Thursday, May 07, 2009

Louisiana Loves the Bailout for Katrian and more.

This morning on Good Morning America they were interviewing the Governor or maybe it was a mayor in Louisiana. He was saying the state was not accepting some of the bailout money for unemployment. Had the state agreed to the unemployment help, the state would have to change the rules on who could receive benefits. Currently his state denies benefits to those who are not willing to work. The money would have helped pay these costs for three years, but at the end the state would be obligated.

They went on to speak about how well the economy was doing. Lots of construction paid for by Federal and State money. Too bad they did not replace Federal and State with Taxpayers. He stated it was stimulating the economy. What happens when the money needs to be paid back? Oh, they do not plan to pay it back, just continue to roll it over and let future generations forever pay interest on the debt that benefited someone else. I call this artificially stimulating the economy beyond what the economy could do on its own. There is a price, but no one seems to want to recognize this.

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