Dig­ging deeper

The Washington Times Weekly - - Letters To The Editor -

Pres­i­dent Obama’s “Amer­i­can Jobs Act” (Stim­u­lus II) is a po­lit­i­cally-in­spired $447 bil­lion in additional spend­ing for 2012 us­ing bor­rowed money.

It’s “more of the same” from Mr. Obama, who has added $4 tril­lion in additional debt since tak­ing of­fice. Mr. Obama has al­ready sup­ported and signed $830 bil­lion for Stim­u­lus I, $3 bil­lion for Cash for Clunkers, $30 bil­lion in small busi­ness loans, $30 bil­lion for mort­gage mod­i­fi­ca­tions, the GM-Chrysler bailout, Oba­macare, Dodd-Frank fi­nan­cial reg­u­la­tion, credit card price con­trols, Build Amer­ica Bonds, and job­less ben­e­fits for 99 weeks.

Gallingly, Mr. Obama’s re­quest for hundreds of bil­lions in fur­ther “stim­u­lus” came at the same time we learned de­tails about the first batch of stim­u­lus be­ing squan­dered. The bank­ruptcy of so­lar panel man­u­fac­turer Solyn­dra in­cluded the loss to tax­pay­ers of $535 mil­lion in loan guar­an­tees. The Solyn­dra fi­asco un­der­scores both Obama ad­min­is­tra­tion fi­nan­cial in­com­pe­tence and po­lit­i­cal crony­ism in­volv­ing the com­pany’s in­vestors who were also large Obama cam­paign con­trib­u­tors. Why should we bor­row more money and have that mis­used as well? Jim Hartman Berke­ley, Cal­i­for­nia

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