Obama to spend $7 billion a month on infrastructure
Since February 17,2009 there has been a reported $31 billion spent on projects, such as "infrastructure, high speed rail, broadband and health technology." According to CNNMONEY.com's article entitled:Stimulus: One year later. The same source reports that phase 2 of the stimulus is about to take effect. In which a reported $7 billion per month will be spent on these same efforts. Vice President Biden stated." Many projects are just now getting underway, and will be creating jobs throughout 2010 and beyond. "
I have a couple of concerns about this initiative. First, I don't understand how in a time of mountainous record deficits we can spend so many tax payer dollars on what I believe to be pet projects. I mean isn't this a little like putting brand new counters in a home,where you can't pay the monthly mortgage?
Secondly, all the jobs this will supposedly create. Now, correct me if I'm wrong, but wouldn't all these salaries be paid by the Feds? Aren't the Feds broke? In fact, even worse than broke, but broke and saddled with debt. Maybe I'm just too simple minded, but at this point shouldn't we be looking for ways to cut spending?
Lastly, when this rail system is complete, who will be in charge of it's operation, and maintenance? My best guess, is again, The Feds. Which means more Americans employed by tax payer dollars; Therefore more government spending. Believe me when I tell you, if this project was economically self sustaining, and even prosperous. It would have been done long ago, and not by the federal government.
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