on Thursday, March 19, 2009

When Bush handed the reigns to King Obama the national debt totaled about $10.7 trillion. Keep in mind that that's the entire amount of debt we have accumulated from the time George Washington ran the show all the way up until D-Day when Rookie-in-Chief Obama took over.

And in 8 short weeks, Obama has spent the following:

  1. $1.2 trillion (including interest) on his pork-laden spending bill

  2. $1.5 trillion to implement his universal health care reform

  3. $2 trillion on new cap-and-trade regulation

  4. $1 trillion created out of "thin air" to purchase Treasury bonds and mortgage securities

  5. TOTAL SPENT IN 8 SHORT WEEKS: $5.7 trillion - more than half of the total debt accumulated in the first 225+ years of this country's existence

So I ask: Why then is Congress and the White House freaking out about a measly $160 million in bonuses (which they all authorized) - only 0.0028% of the total amount spent by Barack Obama to date on complete crap?

Answer: Because it is a populist technique designed to make a crappy administration look good in the eyes of the uninformed American public.

Sure, the AIG guys probably don't need the extra cash and shame on them for taking my tax dollars as a bonus, but there's a bigger point that people are missing here. We have reached a terrifying new era in American politics. That is, to punish people after the fact for an act which was 100% legal and authorized by the government when it was committed.

Imagine you are driving down the freeway today at the correct speed of 65 MPH. Now imagine that three years from now Congress decides that the new speed limit is 55 MPH. So they go knock on your door and try to issue you a ticket for speeding that same three years ago. You argue that when you were driving 65 MPH three years ago it was perfectly legal. They reply that that may be true, but now they like lower speed limits and want to exercise ex post facto and punish you anyway.

That is EXACTLY what is happening here. And once this is done, what's to stop them for punishing gun owners who legally purchased firearms in years past? Or folks whose great-great-great-grandaddy was slave owner?

Semi-related exit thought: It's nice to know that, while the economy is collapsing all around us, Barack Obama still has time to pick his NCAA bracket and go showboating on Jay Leno. Way to prioritize there, Chief.

PS - Did you know that Fannie and Freddie execs get big-time bonuses too? Where's your outrage over that, Obama?