Obama Signs $26 Billion "Jobs" Bill for Public Union Workers

which in fact was a bill for the modernization of the FAA (H.R. 1586). Go figure.

Obama Signs Measure for $26 Billion in State Aid (8/10/2010 Bloomberg)

"President Barack Obama signed into law legislation providing $26 billion in aid to cash-strapped state governments amid fears the U.S. economy is stalling just months before this year’s midterm elections.

"The House, taking a one-day break from the campaign trail, returned to Washington today to approve the measure 247-161 before lawmakers adjourned once again for their August recess.

The bill, designed to prevent thousands of layoffs of teachers and other public service employees, cleared the Senate last week after a pair of Republicans joined Democrats in breaking a filibuster.

"“We can’t stand by and do nothing while pink slips are given to the men and women who educate our children or keep our communities safe,” Obama said earlier today in a White House Rose Garden appeal for passage." [The article continues.]

Hahahaha that's rich. He has no problem seeing nearly half a million Americans go unemployed every single week. For many non-ruling class people who have been unwillingly footing the bills for his government, pink slips to these public union employees aren't coming fast enough.

$26 billion, of which $16 billion will go to Medicaid help and $10 billion for education, is supposed to help save 150,000 jobs, according to Mark Zandi, chief economist at Moody's who avers, "Even with the $26 billion, they are going to be cutting into real bone".

Hahahahaha that's even richer. $26 billion divided by 150,000, that is $173,333 per "saved" public union job.

This is nothing but recycling the campaign donation. Dems want to distribute this money to their core supporters (public unions) so that these supporters will donate to the Dems campaigns.

Obama defends that it won't add to the deficit. Uh huh. This $26 billion is to be funded by cutting the funding for a renewable energy loan program and ditching $12 billion worth of food stamps, and taxing multinational corporations to the tune of $10 billion. Further burdening the businesses in an economy threatening to go "double-dip" and taking away from people who are struggling so that the public union employees get to keep the jobs and benefits (and in gratitude they will vote Democratic come November). Make sense, doesn't it?

In case you aren't aware, the federal help for public union workers like teachers, firefighters, and police have been scattered all over the bills that this Congress have passed. Tens of billions here, another tens of billions there.

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Obama Wants $50 Billion More for Teachers, Police, Fighterfighters

Government workers earning almost twice as much as private sector workers is not enough for him.

Wait, is this $50 billion on top of the provisions in the latest jobs bill ($23 billion) and FY2010 Supplemental Appropriations Bill ($25 billion) that would be used to 'save' those same jobs? If it is, Obama wants to give away another $100 billion total for these public union workers.

Obama pleads for $50 billion in state, local aid
(Lori Montgomery, 6/13/2010 Washington Post)

"President Obama urged reluctant lawmakers Saturday to quickly approve nearly $50 billion in emergency aid to state and local governments, saying the money is needed to avoid "massive layoffs of teachers, police and firefighters" and to support the still-fragile economic recovery.

"In a letter to congressional leaders, Obama defended last year's huge economic stimulus package, saying it helped break the economy's free fall, but argued that more spending is urgent and unavoidable. "We must take these emergency measures," he wrote in an appeal aimed primarily at members of his own party.

""I think there is spending fatigue," House Majority Leader Steny H. Hoyer (D-Md.) said recently. "It's tough in both houses to get votes."

"Democrats, particularly in the House, have voted for politically costly initiatives at Obama's insistence, most notably health-care and climate change legislation. But faced with an electorate widely viewed as angry and hostile to incumbents, many are increasingly reluctant to take politically unpopular positions.

"Obama asks lawmakers to be patient on the deficit, noting that a special commission is at work on a comprehensive deficit-reduction plan.

""It is essential that we continue to explore additional measures to spur job creation and build momentum toward recovery, even as we establish a path to long-term fiscal discipline," Obama wrote. "At this critical moment, we cannot afford to slide backwards just as our recovery is taking hold."" [The article continues.]

I'm sure his commission will come up with a winner. (How about disbanding itself to save money?)

So to summarize: to help save the jobs of teachers at public schools which are not educating kids, and police and firefighters who will retire with fat pensions courtesy of tax payers will spur job creation and boost the economic recovery.

Make sense, doesn't it?

Maybe the 'newly discovered' $1 trillion mineral deposits in Afghanistan will pay for all this and more. (Remember, oil from Iraq was supposed to pay for the recovery of Iraq.)

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Dem Senators Want to Pass Another Jobs Bill

As the financial markets wobbles under the weight of debt (sovereign and otherwise, around the world), the tone-deaf US Senate is trying to come up with enough votes to pass a 'jobs bill' to the tune of $100 billion.

The bill is awkwardly titled "The American Jobs and Closing Tax Loopholes Act".

Senate Democrats have come up with a new talking point to push their bill: It will reduce deficit!

(Yeah right. Do they even know how much deficit they've racked up already?)

Jobs Bill Will Help Reverse Deficit, Say Senate Democrats
(6/9/2010 Talk Radio News Service)

"The Senate continued to look for ways on Wednesday to muster the votes needed to pass a jobs bill filled with tax breaks, unemployment benefits and aid packages to states.

"With the House having passed a jobs bill before the Memorial Day recess, Senate Democrats this week have proposed making changes to their bill, such as restoring $24 billion in Medicaid funds, money that was dropped from the House’s package. Additionally, in a move designed to court moderate support, the Senate bill now features a softer approach on taxing investments than does its counterpart legislation.

"... At stake are several programs that need funding legislation to stay alive. In addition to the Medicaid dollars for states, there are matching $23 billion initiatives to prevent education layoffs and to reimburse physicians that accept Medicare. Stabenow said she supports the so-called “Doc-Fix,” and added that she plans on putting forth an amendment to extend COBRA benefits for the unemployed. She also downplayed concerns that the bill, totaling over $100 billion in cost, would add to the nation’s already-massive deficit."

Medicaid support, tens of billions going to save public union jobs (teachers), Medicare reimbursement, extension of COBRA. Other than saving union jobs, how are the other programs going to create jobs and reduce federal deficit?

According to Sen. Debbie Stabenow (D-Mich.),

“The reality is that this legislation is part of turning things around and I would argue lowering the deficit,” she said. “When people are working, they are paying taxes…and that’s part of how you lower the deficit.”

(Who voted for this woman?)

According to CNN, this 'deficit reducing' job bill will add $50 billion to the federal deficit.

I happened to be looking at FY2010 Supplemental Appropriations Bill summary, and I noticed that funding for saving the pubic union jobs like teachers, police, firefighters was already included in the bill. Lucky for teachers, policemen, and firefighters. With this 'jobs bill', they'll get double.

Securing the government jobs is a matter of national security, I suppose.

I have a better idea on how to reduce deficit and create jobs. Well, not really reduce but more like "not add". DO NOTHING, GET OUT. Don't crowd the capital market with huge issuance of debt that sucks up available money only for the federal government to squander. Don't create more bureaucracy to manage ever-growing subsidy and wealth-transfer schemes, which actually help keep the poor remain poor.

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