The 50 State “BIG DIG”

I went to my sisters last night for dinner. I could tell my brother in law was on edge as he place Christmas ornaments on the tree. My sister pulled me aside when he wasn’t looking and told me that my brother in law had just learned that his father retired in Nevada, had lost his life savings of $250,000.00 which he had placed with the now defunct ” too big to fail” AIG.

Many people don’t know that “AIG” creditors were paid by taxpayers, but investors lost everything.  Goldman Sachs’ headed by the Caesar Paulson was the largest creditor, and the taxpayer’s saved Goldman with the bailout. See http://www.thefirstpost.co.uk/45505,features,aig-rescue-and-the-goldman-connection-philip-delves-broughton

To whom did the “AIG” taxpayer TARP money go to?    Certainly not American retirees who lost it all. If you have connections “it’s all good”.

Today,  I read that many retired elected officials including N.Y former Senator Al D’Amato were hired  ny Fannie and Freddie to lobby Congress and stop proposed legislation to protect the taxpayers. See http://hosted.ap.org/dynamic/stories/T/THE_INFLUENCE_GAME_FREDDIE_MAC?SITE=1010WINS&SECTION=HOME&TEMPLATE=DEFAULT

President Elect Obama ,admitted that the economy is going to get worse, something I have believed for the past 2 years.  See http://apnews.myway.com/article/20081207/D94TUJ4O0.html

I am deeply troubled that the fat cats took all the boats and the Titanic US economy is slowly sinking. Can Obama repair it? Obama is an attorney and politican he has gathered the facts and believes that a major public works program will stimulate the economy and right the economy. See http://www.nytimes.com/2008/12/07/us/politics/07radio.html?partner=permalink&exprod=permalink

Will this work, I don’t know but this is the Paul Krugman economic theory which Obama is a disciple of. See http://www.nytimes.com/2008/11/10/opinion/10krugman.html?partner=permalink&exprod=permalink

One aspect that won’t be corrected is our trade defecit which is also causing us problems.

us_trade_deficit_sept112008 This Christmas season is predicted to be poor, and consumption of LCD and Plasma televisions manufactured overseas, does little to put Americans back to work.

Given, our Congress and State elected officials are pawns of the Lobby community, do you really think this new ” public work program”  can evade there  influence peddling and unbridled greed. Can our elected officials avoid bribes or are we creating another ” BIG DIG” . The Big Dig, see ; http://en.wikipedia.org/wiki/Big_Dig_(Boston,_Massachusetts) in essence documents how, favoritism, unions, cost overruns, poor planning, cronyism, and government inept managerial supervison cause a noble public works program to become a disaster. ( Katrina???)

So, in summary I don’t think an infusion of cash to the states for public works programs is workable given our past failures  and why create a 50 state big dig debacle.

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