Sunday, July 14, 2013

Stimulus Tricksters


Funds removed from one pocket and placed into another pocket of your pants, is the same money. The amount is the same, no matter what pocket it comes from.

In the same way, money can be substituted from one pocket of government to the other, to hide the source of funding. It adds up to the same total outlay.

What the government in Washington called stimulus funds, for the most part, became slush funds. for use by its politically-preferred state governments. These states used the money, to a great extent, to help balance budget deficits.

The reason state budgets are so out of hand can be attributed primarily to their unionized pension obligations. It is estimated this is a major, ticking financial time bomb, waiting for more government bailouts under various guises.

Taxpayers who cannot recognize stimulus sleight of hand will be taken as suckers again. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)

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