Fresh on the heals of Obama’s White House Jobs Summit, Obama has announced he’s going to use unspent TARP money to tackle two issues that are dragging on the economy.
- Provide incentives for small businesses.
- Pay down the debt.
Part one sounds good, but I think most small businesses are too distracted with this headline to fool with figuring out what TARP will do for them:
Team Obama is going to regulate carbon dioxide even without Cap and Trade
Fresh on the heels of Climategate, which throws the underlying concept of global warming into doubt, Obama has directed the EPA to declare carbon dioxide is a threat to life on Earth.
So, this is how it’s shaking out as of today: Obama is borrowing money to pay off borrowed money in order to address the exploding debt and unemployment. In addition, he’s now protecting us from a gas that is critical for life on Earth to exist.
He made these announcements at a conference that he flew a large jet to, and has ridden in limousines for a week.
So far, business doesn’t seem to be buying into his concept of borrowing money to pay for higher utilities and paying off the debt. Fresh on his encouraging words, the Dow Jones tanked 100+ points.
Several pundits are already speculating this latest bizarro action will be challenged legally. The logic just doesn’t make any sense. Carbon dioxide is a gas critical for the survival of life on Earth. Therefore, it can’t be a health risk. The science behind the assumption that carbon dioxide is a threat has been thrown into a state of flux. I’ve seen no evidence that supports the assumption carbon dioxide is a risk. Quite frankly, this is one of the stupidest moves I’ve ever seen.
However, that one may be more dangerous, but borrowing money to pay off the debt is probably equally as stupid.
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