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President Obama signs spending bill, hails "the beginning of the end"
Well, the fight is over. The Democrats’ pork-laden $3.27 Trillion spending monstrosity is now law. BOHICA.
DENVER – President Barack Obama put his own indelible imprint on the nation’s distressed economy Tuesday, signing the huge recovery package into law, readying a $50 billion proposal to help homeowners fend off foreclosure and awaiting emergency restructuring plans from flailing automakers. Obama said the sprawling legislation, which congressional Democrats pushed to passage last week over near-unanimous opposition from Republicans, would “set our economy on a firmer foundation.”Obama’s first major piece of legislation, it’s a $787 billion mix of tax cuts and one of the biggest public spending programs since World War II.
“I don’t want to pretend that today marks the end of our economic problems. Nor does it constitute all of what we have to do to turn our economy around. But today does mark the beginning of the end, the beginning of what we need to do to create jobs for Americans scrambling in the wake of layoffs,” Obama said.
The setting for the signing was the Denver Museum of Nature & Science, with solar panels on its roof, underscoring the investments the new law will make in “green” energy-related jobs. Workers in solar, wind, and other renewable-energy industries joined Obama and Vice President Joe Biden at the bill-signing ceremony.
Well, President Obama was partially right: it’s the beginning of the end.
Time for Atlas to shrug.
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UPDATE: Based on an analysis by the nonpartisan Congressional Budget Office, The Washinton Post has created a very good diagram showing a graphic representation of where all our money will be wasted over the next ten years.
Oh, and by the way, the final bill contained 78% spending and only 22% tax cuts, significantly less than the one-third falsely claimed by President Obama.
Posted by FullMetalPatriot
12th gen. American, Constitutionalist, Harley-riding Texan, gun owner & NRA member, blogger, illustrator, Florida Gator alumnus. #TCOT
12th gen. American, Constitutionalist, Harley-riding Texan, gun owner & NRA member, blogger, illustrator, Florida Gator alumnus. #TCOT
[...] President Obama signs spending bill, hails “the beginning of the end” Share this:Share Posted by FullMetalPatriot 12th gen. American, Constitutionalist, Harley-riding Texan, gun owner & NRA member, blogger, illustrator, Florida Gator alumnus. #TCOT [...]