Tuesday, February 2, 2010


Senator Judd Gregg totally tore into Obama's Budget Director Peter Orszag today.  It was great.  I watched it three times and give it two enthusiastic thumbs up!  I wish that more of our representatives would start calling the administration out on this garbage.  Kudos to you, Sen. Gregg!

Orszag was trying to argue that it was perfectly fine to take the TARP money the banks have repaid and 'redirect' it to pay for the small business incentives Obama touted today.  Sounds great, right?  Small business really needs the help, for sure.  But what the administration is doing is against the law.  Yes, help is desperately needed in the small business sector, but there are other ways to do it.

The law, according to Sen. Gregg, who read it out loud to Mr. Orszag, clearly states that all monies recouped from TARP banks should be used to pay off the public debt and for no other purpose. 

Unfortunately, the Obama administration sees this money as their own personal slush fund.

This Presidential Piggy Bank has become their go-to fund for all of their little schemes - most of them involving reelection smoke and mirrors, such as this latest small business salve. 

This administration has an odd habit of giving with one hand and slapping us silly with the other.  The hijinx going on with the TARP funds is a perfect example of that.  With one hand, they are giving small businesses TARP funded incentives, and with the other they are slapping them down with threats of excessive taxation for health care, cap and trade, and the revocation of the Bush tax cuts, among other things.  The increased taxation and regulation will do far more harm than the offered incentives could possibly make up for. 

The level of ham-fisted deceit is just mind blowing.  They are attempting to cloak themselves in populism, of all things -giving the impression of helping out the little guy (with a dash of fat cat banker hating to illustrate the victimhood, of course), when all the while they really have the little guy by the throat, slowly squeezing the life out of him.  It's like a 1930's B movie film noir shakedown.

Which means this newest show of elitist largesse will have the same result as all the rest of their strong-arm, tax and spend tactics - businesses will hunker down even further, refuse to risk hiring and wait for the wave of redistributive taxation recede.

God willing, that wave will break in November.

BTW - Am I the only one who thinks the term "Obama budget" is an oxymoron?



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