Obama and Joe Biden want to spend $53 billion on high speed rail systems. Amazing.
As John Lott points out, if it made economic sense, the private sector would have done it. This is how Obama thinks American economics (and stimulus) should work:
Project selection parameters:
- It has to be very expensive.
- It has to be something the private sector hasn’t done. (It never occurs to them to wonder why that is. It is because this would be a money pit.)
- It has to be something that will directly subsidize unions.
- It has to be something with national scope.
- It has to be something the government can control, both during construction and during operation.
- It has to be something that will take many years to complete.
- It has to be a project for which Obama will get to pick the contractors.
- It has to make the U.S. more like Europe in some way.
- Oh, and it has to be something that is “environmentally friendly”.
In his State of the Union, Obama mentioned trains, and said you wouldn’t have to get patted down or x-rayed to get on one. How long do you figure that would last? The only reason the feds aren’t doing it now is that they haven’t gotten around to it yet.
And the biggest reason not to do something like this? WE’RE BROKE.
You’d think Obama would have got that part by now, but, nope; he doesn’t see any reason to back off on the profligate spending. Debt means nothing to him.
We need to kick these bums out and find an adult or two to run things.
Of all the candidates, my favorite package would be Sarah Palin and Paul Ryan. An honest pro-energy, pro-gun, pro-life conservative and a fiscal conservative who identified and outlined the real pickle we’re in before most of congress had a clue.