The late Carl Sagan used to use the term "billions and billions" of stars and planetary systems when talking about the cosmos. In a similar fashion, when talking about spending "your" tax money, Barack Obama talks of "billions and billions" of dollars when he speaks of fixing any of social, educational, or financial ills that befall this country. There is no limit to how much of "your" money this man plans to spend.
In today's economic speech in New York, Obama laid out a $30 billion dollar give-away of $1,000 in a tax rebate to every average working family in America. Barack believes that this "buying of votes" should be a permanent stimulus package for America. Of course, what Barack won't tell you is that a similar amount of "stimulus" that is already embedded in the tax cuts of George Bush from 2003 and 2004. However, Obama will let those tax cuts just expire. This way he looks as if he is doing something entirely new and different. A "change" from the past; and, Obama is all about "change"...ya, know!
In addition to the money, Barack says that the next President (Like him!) should do the following: (1) Expand oversight and regulation of any institution or corporation that borrows from the government, (2) toughen capital requirements for an mortgage-backed securities, and (3) eliminate regulatory overlap. While that all sounds nice, much of that is already being worked on. And, by the way, why should we wait until the "next President" to get these things done? Isn't fixing the economy and the credit situation in this country an immediate priority? Isn't Barack Obama an active U.S. Senator? Couldn't he bring a bill to the Senate floor which mandates all those nice things that he has outlined in his speech of today? Of course, that would be too much work for the the half-one-term, Junior Senator from Illinois!
For sure, Barack Obama has deep spending pockets. He's a regular Santa Claus when it comes to your money. And its amazing how the $100 billion that would be eliminated in spending for the Iraq War and the possible $75 billion that would be eliminated in tax cuts for the rich can be "stretched" into so many "billions and billions" of dollars "more" that Barack Obama needs for all his give-away plans! It's as if each dollar of spending in Iraq and in tax cuts for the rich is able to replicate itself, over and over, again! It's pure magic! And, don't forget, Obama plans to reduce spending and the deficit while he's at it!
You can read the Associated Press account of Barack's New York speech at this link: (Click to See Full Story).