Yet, during the fifth year of Obama's presidency, we are told that we can't cut spending, that we need even more government "investments."
The Department of Energy, for example, has sponsored loans of $34.5 billion to tenuous “green” companies, many of which have political connections to the Obama White House.
Let’s call in those loans.
The government’s venture into venture capitalism doesn’t seem like such a good idea to me when classroom teachers are going to get the axe.
Or maybe we could get General Motors to make due on the $15 billion that taxpayers are in the hole on the public stock offering of GM? Or perhaps we could ask the auto companies to get back the $27 billion that the government wasted on shoring-up the United Auto Workers union in the bailout plan?
Do we really need to save a union with declining membership and relevance, rather than pay teachers?
We can talk healthcare too.
Before we let the government take over the whole healthcare system, they could first clean up the estimated $48 billion in fraud and abuse that the government’s own General Accounting Office says haunts the part of healthcare that the government controls now-- Medicaid and Medicare.
“In 2010 the Government Accountability Office (GAO) released a report claiming to have identified $48 billion in what it termed as ‘improper payments,’” reports Forbes. “That’s nearly 10 percent of the $500 billion in outlays for that year. However, others, including U.S. Attorney General Eric Holder, suggest that there is an estimated $60 to $90 billion in fraud in Medicare and a similar amount for Medicaid.”
Holy tamoly: That’s at least $120 billion savings right there.
So if we can find an alternative to the green loans, tell GM to give us back the $42 billion that we wasted on the auto bailout- they have $26 billion in cash today…they can owes us the rest- that $60 billion in savings. Then if we clean up fraud and abuse in the healthcare system that the government runs we could save all told about $180 billion this year, with ongoing savings of $120 billion.
All of this before I cooked dinner, even.
Shouldn’t we do that first before raising any taxes or firing any teachers?
I mean cut spending- and waste- not cook dinner.
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for September 1st, 2014 | John Ransom
In Other News: Mary Landrieu Connects with Millennials; Lists Parent’s Basement as Louisiana Address | Michael Schaus
In Other News: Warren Buffet's Secretary Unavailable for Comment on Burger King Tax Move | Michael Schaus