red states rule
04-25-2009, 11:00 AM
I remember Richard Pryor made a movie where he had to spend $30 million in 30 days and have NOTHING to show for it at the end of the 30 days
Looks like Pbama is taking that idea to new heights
Libs were always screaming about Pres Bush's spending and his defiicts - now Obama has spent in 30 days what Pres Bush spent on Iraq, Afghanistan and Katrina COMBINED and the left are silent
First 100 Days: Obama's Federal Spending Spree Raises Management Concerns
President Obama's spending spree in his first 100 days in office has initiated the largest expansion of federal government since World War II and set up a massive challenge for his administration.
By Stephen Clark
FOXNews.com
In the early months of his presidency, President Obama has shown he isn't afraid to spend billions of dollars on corporate bailouts or to run up trillions of dollars in U.S. debt to battle an economic crisis.
But in doing so, he has initiated the largest expansion of federal government since World War II and set up a massive challenge for his administration -- one that officials are already warning will be fraught with peril.
During the first 100 days of his presidency, Obama has signed a $787 billion stimulus bill into law, proposed an eye-popping $3.6 trillion budget for the next fiscal year, taken over a massive $700 billion Wall Street bailout program and created other billion-dollar programs to help grease the economic wheels.
Analysts call the spending spree "unprecedented" when the nation is not in a declared war, and they say the challenges that accompany it are a logical result.
"You take any organization in the world and you double its size in 90 days, it's going to have a hard time managing that transition," said William Gale, vice president and director of the economic studies program at Brookings Institute.
"The sheer management issues that come up are very important," Gale said, "because I can imagine the people running those projects that are about to be doubled may not want to see their face on '60 Minutes' as the poster child for government waste and useless spending."
Among the warning signs: The Government Accountability Office said Thursday that states need help covering the cost of overseeing their share of the massive federal stimulus program.
Treasury Secretary Timothy Geithner told a congressionally appointed oversight panel this week that America's banks are still broken, despite all their bailout billions. And an inspector general assigned to the bailout program concluded this week that a private-public partnership designed to buy up bad assets is tilted in favor of private investors and creates "potential unfairness to the taxpayer."
http://www.foxnews.com/politics/first100days/2009/04/23/obamas-federal-spending-spree-raises-management-issues/
Looks like Pbama is taking that idea to new heights
Libs were always screaming about Pres Bush's spending and his defiicts - now Obama has spent in 30 days what Pres Bush spent on Iraq, Afghanistan and Katrina COMBINED and the left are silent
First 100 Days: Obama's Federal Spending Spree Raises Management Concerns
President Obama's spending spree in his first 100 days in office has initiated the largest expansion of federal government since World War II and set up a massive challenge for his administration.
By Stephen Clark
FOXNews.com
In the early months of his presidency, President Obama has shown he isn't afraid to spend billions of dollars on corporate bailouts or to run up trillions of dollars in U.S. debt to battle an economic crisis.
But in doing so, he has initiated the largest expansion of federal government since World War II and set up a massive challenge for his administration -- one that officials are already warning will be fraught with peril.
During the first 100 days of his presidency, Obama has signed a $787 billion stimulus bill into law, proposed an eye-popping $3.6 trillion budget for the next fiscal year, taken over a massive $700 billion Wall Street bailout program and created other billion-dollar programs to help grease the economic wheels.
Analysts call the spending spree "unprecedented" when the nation is not in a declared war, and they say the challenges that accompany it are a logical result.
"You take any organization in the world and you double its size in 90 days, it's going to have a hard time managing that transition," said William Gale, vice president and director of the economic studies program at Brookings Institute.
"The sheer management issues that come up are very important," Gale said, "because I can imagine the people running those projects that are about to be doubled may not want to see their face on '60 Minutes' as the poster child for government waste and useless spending."
Among the warning signs: The Government Accountability Office said Thursday that states need help covering the cost of overseeing their share of the massive federal stimulus program.
Treasury Secretary Timothy Geithner told a congressionally appointed oversight panel this week that America's banks are still broken, despite all their bailout billions. And an inspector general assigned to the bailout program concluded this week that a private-public partnership designed to buy up bad assets is tilted in favor of private investors and creates "potential unfairness to the taxpayer."
http://www.foxnews.com/politics/first100days/2009/04/23/obamas-federal-spending-spree-raises-management-issues/