Barack Obama’s New Deal – But Who The Hell Is Going To Pay For It?

In his weekly address to the nation, President-elect Barack Obama outlined a “New Deal” or a series of initiatives to address American job loss.

It is one thing to reward your constituency groups who supported your party and candidacy for the Presidency as each of the major initiatives does:

• ENERGY: “[W]e will launch a massive effort to make public buildings more energy-efficient. Our government now pays the highest energy bill in the world. We need to change that. We need to upgrade our federal buildings by replacing old heating systems and installing efficient light bulbs. That won’t just save you, the American taxpayer, billions of dollars each year. It will put people back to work.”
• ROADS AND BRIDGES: “[W]e will create millions of jobs by making the single largest new investment in our national infrastructure since the creation of the federal highway system in the 1950s. We’ll invest your precious tax dollars in new and smarter ways, and we’ll set a simple rule – use it or lose it. If a state doesn’t act quickly to invest in roads and bridges in their communities, they’ll lose the money.”
• SCHOOLS: “[M]y economic recovery plan will launch the most sweeping effort to modernize and upgrade school buildings that this country has ever seen. We will repair broken schools, make them energy-efficient, and put new computers in our classrooms. Because to help our children compete in a 21st century economy, we need to send them to 21st century schools.”
• BROADBAND: “As we renew our schools and highways, we’ll also renew our information superhighway. It is unacceptable that the United States ranks 15th in the world in broadband adoption. Here, in the country that invented the Internet, every child should have the chance to get online, and they’ll get that chance when I’m president – because that’s how we’ll strengthen America’s competitiveness in the world.”

It is another to pay for them.

The labor unions both private and governmental win; as does the teacher union lobby and the high technology sector. All of these groups played a major roll is supporting the winning Democrat Party majority and Obama’s winning campaign.

But, who the hell will be paying for all of this government spending? And, how will the federal government do it?

Tax increases for the rich?

Are there enough rich folks who can pony up enough cash? Doubtful – even if they pay 100 % more.

What about the entitlements like Social security and Medicare which in a few years will be scrambling to fund their mandated costs?

The fact is Barack Obama is a PANDER bear.

All of this sounds good on YouTube,is smart and politically correct to repair schools, roads, bridges,  etc., etc. but the funding will have to come from American taxpayers and business who will have their quality of life subjugated to the grandiose plans of the state – the “New Deal” or “Great Society” Obama wishes to create.

We have been down this road before in the 1960’s and the 1970’s with disasterous results to the economy. Remember inflation and stagflation?

America is travelling the road again.

Exit question: Who will be the next Reagan?

Technorati Tags: Barack Obama, New Deal