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Tag Archive: Subsidies


Obama’s Prediction Of A Million Electric Cars On Road By 2015 Off By 72%

 

 

 

 

 

” In his 2011 State of the Union address, President Obama predicted that the U.S. would have “a million electric vehicles on the road by 2015.”

  The president backed up his prediction with $2.4 billion in federal grants to companies producing lithium-ion batteries for plug-in cars.

  But reality hasn’t even come close.

  Despite massive federal spending on electric vehicles, which is expected to total $7.9 billion through 2019, there are currently just 286,390 plug-in vehicles on the nation’s roads today, according to the Electric Drive Transportation Association (EDTA).

  That’s 72 percent lower than the million electric vehicles the president predicted four years ago. And with gasoline prices now averaging $2.06 per gallon, the lowest they’ve been since April 2009, that percentage is not likely to change any time soon.”

 

 

   Lord knows he gave away enough of our tax dollars in his attempt to make it happen , and line his crony’s pockets , but his prognostication still came up short … by miles .

 

 

” Although Obama backed up his prediction four years ago with $2.4 billion in federal grants to companies producing lithium-ion batteries to power electric cars, there has been no major breakthroughs that make them economically competitive with gas- and diesel-fueled vehicles, which have become far more fuel-efficient in the meantime.

  In fact, with new advances being made in the internal combustion engine, the U.S. Energy Information Administration (EIA) predicts that gasoline and diesel-powered vehicles will still make up 95 percent of all light duty vehicles sold in 2040. “

 

 

CNS News

 

 

 

 

 

 

 

 

 

 

 

 

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Follow Your Tax Dollars Across This Map To Unfriendly Nations

 

 

BL-export-import-unpaid-loa

 

 

 

” What’s worse than using taxpayer money for special interests and cronyism? Maybe sending taxpayer money to nations that aren’t the best friends of the United States.

  The Export-Import Bank does both. It loans money to foreign companies and governments to buy products from politically favored American companies. Hard-working Americans are backing these loans.

This map shows just a few of the countries where your money is going.”

 

 

The infographic below , also from Heritage.org puts the “lending” in perspective …

 

 

 

ExIm_Infographic_Final_640px

 

 

Call it cronyism international . See also this piece from Heritage:

 

              The Export–Import Bank: A Government Outfit Mired in Mismanagement:

 

” Advocates of the Export–Import Bank (Ex–Im) are lobbying Congress for reauthorization by claiming that its taxpayer-subsidized financing is a safe—and lucrative—investment. But even a mountain of rhetoric cannot bury the facts: The bank is beset by mismanagement, dysfunction, and risk, all of which have been documented for years by Ex–Im’s own inspector general and the Government Accountability Office (GAO). The problems are the inevitable result of government assuming a function far beyond its proper purview and one that rightly belongs to private business alone.

  The bank’s current authorization is set to expire on September 30. Ex–Im provides loans and loan guarantees as well as capital and credit insurance for U.S. exports. The financing is backed by the “full faith and credit” of the U.S. government, which means taxpayers are on the hook for losses that bank reserves fail to cover.

  Allowing the authorization to expire should be an easy call for lawmakers. There is no shortage of private investment: 98 percent of the $2.2 trillion in annual U.S. exports are financed without help from Ex–Im. And despite promises to clean up their act, bank officials persist in underestimating costs, misstating losses, and failing to maintain adequate capital reserves. But even if the bank functioned perfectly, there is no justification for the government to act as financier to favored interests.”

 

 

 

 

 

 

 

   Doug Bandow has a piece in Forbes about this international cronyism underwritten by the US taxpayers that provides the reader with a much better understanding of the true nature of the Export-Import Bank and the love that exists for it in the corporate world …

 

” Nothing brings out the well-tailored lobbyists in Washington quite like a threat to corporate welfare. With the Export-Import Bank’s legal authorization set to run out this year, the Chamber of Commerce recently led a Big Business march on Capitol Hill to protect what is known as Boeing’s Bank. Over the last eight decades ExIm has provided over a half trillion dollars in credit, mostly to corporate titans. Congress should close the Bank.

  ExIm was created in 1934 to underwrite trade with the Soviet Union. The agency piously claims not to provide subsidies since it charges fees and interest, but it exists only to offer business a better credit deal than is available in the marketplace. The Bank uses its ability to borrow at government rates to provide loans, loan guarantees, working capital guarantees, and loan insurance.

  The result is a bad deal for the rest of us. For instance, ExIm is not free, as claimed. Recently made self-financing, the agency has returned $1.6 billion to the Treasury since 2008. However, economists Jason Delisle and Christopher Papagianis warned that the Bank’s “profits are almost surely an accounting illusion” because “the government’s official accounting rules effectively force budget analysts to understate the cost of loan programs like those managed by the Ex-Im Bank.” “

 

 

Roll Call jumps on the end the Ex-Im bank bandwagon too… 

 

” The bank’s erstwhile job is to provide loans and guarantees to banks, which then finance companies attempting to import and export goods. The lion’s share of its money goes to multi-national, multi-billion dollar corporations. Roughly 90 percent of its 2010 loans and guarantees went to ten major corporations like General Electric and Caterpillar. In 2012, Boeing received roughly 80 percent. Small businesses typically receive less than 20 percent of the bank’s loans by dollar amount.

  These large, usually publicly traded companies would have no problem securing funding from elsewhere. After all, U.S. exports wouldn’t have reached a record high $2.2 trillion last year if there weren’t plenty of private finance opportunities available. Yet thanks to the Export-Import Bank, these companies can avoid the risk by using public money to guarantee private profits.

  This generosity results in significant taxpayer exposure. American taxpayers are currently on the hook for approximately $134 billion in outstanding Ex-Im loans. This is a more than 100 percent increase since 2007, the year after the bank’s most recent congressional re-authorization. Every year, more companies realized that they can benefit from this arrangement. Last year’s 4,061 deals marked a 33 percent increase over the bank’s 2009 total.

  In recent years, Ex-Im has given loans to such politically well-connected companies like Enron, First Solar, and Solyndra. None of these loans went well for the taxpayer; all three companies have since gone bankrupt. Meanwhile, most of the bank’s current beneficiaries can afford teams of lobbyists to keep the money flowing.”

 

 

 

    If you still harbor doubts about the corporate cronyist nature of the ExIm , ponder this fact , in 2012 fully 44% of the “bank’s” loans were awarded to just three very well connected corporations , GE , Boeing and Black and Veatch International .  

     Given these facts it is difficult to see the Export-Import bank as anything other than taxpayer subsidy of private corporations on an international scale .Contrary to Obama’s rhetoric , he’s never met any crony capitalism he didn’t like .

 

 

 

 

 

 

 

 

 

 

 

 

 

Agribusiness Political Donations And Farm Bill Votes

 

 

mitchell-agribizz-small

 

 

 

” When governments dispense privileges such as insurance subsidies, price supports, or protection from foreign competition, they create incentives for firms to invest large sums of money in obtaining and maintaining these privileges, as the farm bill demonstrates.

  The fact that members who ultimately voted for the bill received so much more than those who opposed it may indicate that interest groups prefer to donate to members who are likely to support their issue. This is known as the “political man” theory of interest group behavior. On the other hand, the pattern of giving may indicate that political donations actually affect the final votes that members cast. This is known as the “economic man” theory of interest group behavior. Economists and political scientists have studied these questions extensively, and the balance of evidence suggests that there is some truth to both theories: interest groups do tend to give to candidates that already agree with them, but they also give to candidates in order to sway their votes.

  The final farm bill is expected to cost taxpayers $956 billion over ten years, but the economic costs will be much larger. These costs include not just the explicit taxpayer subsidy and the money wasted in seeking these privileges but also the higher prices that consumers will pay for some food and the resulting misallocation of capital.”

Catfish Oversight, Weather Radios And A Christmas Tree Tax: Meet The Pork-Filled $956 BILLION Farm Bill

  • ” The massive five-years agriculture spending plan, signed Friday by President Obama, includes a $3 million plan for Christmas tree taxes
  • Most of the bill covers food stamps, with the number of benefit recipients doubling since Obama took office
  • The U.S. will spend $1 billion per year loaning money to sugar barons so they can keep prices stable and avoid overseas competition
  • Another $100 million will go to study how to get Americans to buy more maple syrup
  • $1 million will buy weather radios for rural Americans, despite plunging hundreds of weather apps for smartphones and plunging access rates”

 

” The federal government pays for a $15 million ‘wool trust fund,’ runs a $170 million program to protect catfish growers from overseas competition, sets aside $3 million to promote Christmas trees, funds another $2 million to help farmers sell more sheep, and plunks down $100 million researching how to get Americans to buy more maple syrup

  And that spending is just three one-hundredths of one per cent of the Farm Bill that President Barack Obama signed Friday in Michigan.

  Liberal and conservative watchdogs alike are hopping mad at what they say are pork-barrel projects included in the five-year agriculture spending law as home-state perks to lawmakers that are  unneeded or redundant.

  There’s a new 15-cent levy on every live-cut Christmas tree, a proposal that Agriculture Secretary Tom Vilsack had blocked but will now be beyond his control. Tree growers will put the money into a fund for ‘industry-funded promotion, research, and information program[s],’ but the cost will inevitably be passed on to consumers.”

   While there is plenty of pork to feed Congress’  corporate cronies the lion’s share of the “Farm” bill goes to foster government dependency for the individual …

 

 

 

One in five American households receive food stamps today. More than 1 million people were added to the rolls in 2013, including residents who live in the country illegally.

  In the year 2000 the entire food stamp program cost $17 billion. Last year that figure was $78 billion.

  The rest of the Farm Bill, all $200 billion of it, includes some subsidy payments to members of Congress and their families who are engaged in agriculture.”

Read the rest if you can stomach it .

 

 

 

 

 

 

 

 

 

 

 Mercatus Center At George Mason University

 

 

 

 

For further reading on the complete corruption of Congress see these … 

 

Farm Bill Replaces Conspicuous Subsidies With Inconspicuous Subsidies

The Farm Bill: A Lesson In Government Failure

 

” As a consumer and as a taxpayer, the farm bill is a monstrosity. But as someone who teaches public finance and public choice economics, it is a great teaching tool.

  Want to explain the concept of dead-weight loss? The farm bill’s insurance subsidies are a perfect illustration of the concept. They transfer resources from taxpayers to farm producers; but taxpayers lose more than producers gain.

  Want to illustrate the folly of price controls? Sugar supports which force Americans to pay twice what global consumers pay are a fine illustration.”

 

    Big Government means Big Money … Big Money means Big Corruption … It’s been the same since the beginning of the State and WILL NOT CHANGE !!!

 

 

 

 

 

The Farm Bill vs. America

Published on Feb 4, 2014

” Opening Line: “This Farm Bill is a monument to every dysfunction Washington indulges to bend our politics and twist our economy to benefit itself at the expense of the American people.” “

 

 

 

 

 

 

 

 

Stop The American Hustle

 

 

 

” In 2012, the people of North Carolina paid Marvel Studios $20 million to shoot Robert Downey Jr.’s latest comic-book sequel, “Iron Man 3,” in their state. It was just one of many movies and television shows taxpayers subsidized in North Carolina that year. Among them were season 8 of“The Bachelorette” and Jennifer Aniston’s “We’re the Millers” — a film that The Fresno Bee said “aims for mediocrity and hits it with a dull thud.”

  Subsidies like these for the entertainment industry exist all over the country, in Florida and Michigan and Ohio. Georgia taxpayers in 2012 funded “Tyler Perry’s Aunt Bam’s Place,” “Tyler Perry’s I Don’t Want to Do Wrong” and the latest Vince Vaughn–Luke Wilson buddy flick, “The Internship.”

  With so much public money going toward these ventures, it’s reasonable to question whether they bring the public any actual benefit — and there are plenty of reasons to be skeptical. In 2010 in Michigan, the state Senate authored a report on film industry incentives and found that, in one year, the state had spent $100 million to create only $60 million in economic activity. Of the spending stimulated — by the production of such gems as “A Very Harold and Kumar Christmas”— the report found that almost half occurred out of state. Such doubts were compounded by a November report from the office of New York Gov. Andrew Cuomo, which could not find “sufficient justification for the size of the film credits.” The amount of public money spent on a production company, it said, was the equivalent of paying a factory 40 times what it owed in taxes.

  The film industry, now under scrutiny for engaging in these practices, is just one example of a much larger problem. Tax credits for businesses, in theory, are meant to be a means of using public money to stimulate private-sector growth and create jobs. Yet many subsidies don’t pay off in the form of public benefits, and few come with any measures for accountability, preventing the public from ever knowing if it’s getting its money’s worth. Walmart, for instance, has used “more than $1.2 billion in tax breaks, free land, infrastructure assistance, low-cost financing and outright grants from state and local governments around the country,” according to Good Jobs First’s Wal-Mart Subsidy Watch website. Sports franchises frequently approach cities and suburban regions with proposals for new stadiums funded by public dollars, touting them as job creators.”

 

 

 

Read more

 

 

 

 

 

 

 

 

Who’s Buying Obamacare, In Three Charts

 

 

” More than 2.1 million Americans selected private health plans through healthcare.gov and state-run websites through Dec. 28, the Obama administration announced today. Another 1.6 million were judged eligible for Medicaid, the federal-state insurance program for the poor. Most of the new enrollees in private health plans—1.8 million—signed up in December, after the White House relaunched the Affordable Care Act’s stuttering website on Dec. 1.

  Most of the people who bought coverage on the exchanges this fall got subsidies to help them afford the premiums. That’s in contrast to the first month of the program, when less than one-third of buyers were subsidized. People earning up to four times the poverty rate—as much as $96,000 a year for a family of four—can get help buying coverage.”

 

Business Week has more

 

 

 

 

 

 

 

 

AIR AGENCY PUSHING NEW-CAR PLAN FOR POOR

 

 

” The California Air Resources Board is now embarking on a program that would help poor people buy energy-efficient vehicles. In one scenario posed by the agency, a “voucher” might even pay the full price for a Nissan Leaf, an electric car with an MSRP above $21,000, or for used cars with lower price tags.”

 

   The list of “entitlements” grows by the day … food , housing , education , medical care and now California is floating the idea that people have a “right” to a car . Where does it end ? Or is that the point ? It doesn’t end until the incentive to provide for one’s self is banished once and for all , thus insuring government dependence in perpetuity . There is already ample evidence on how well that works out . Just look at all the “help” the State has provided the black community over the past two generations . 

 

” In a staff report released on Nov. 19, the agency analyzes its Enhanced Fleet Modernization Program authorized in 2007. Funded by a $1 surcharge on vehicle registrations, the $30-million-a-year program is essentially a “cash for clunkers” deal. It provides motorists with $1,000 to $1,500 to retire their high-polluting vehicles.”

 

 

    Given the fact that the original “Cash For Clunkers” program from the feds worked out so well it’s no surprise that the moonbats that rule California would decide to try to emulate that success . In the name of the environment , of course .

 

 

 

 

 

 

 

 

 

 

Big Government Doesn’t Work … Never Has , Never Will

 

 

 

” People shouldn’t be surprised about the botched roll-out of Obamacare and all the damaging effects of the law that are now generating headlines. Over the decades, federal efforts to subsidize and manipulate the economy have failed over and over again.

That lesson has been driven home to me in researching Downsizing Government. Farm policies, for example, have been an ongoing boondoggle for more than eight decades. President Herbert Hoover’s Federal Farm Board blew $500 million trying to stabilize crop markets, but it did the opposite by inducing overproduction and depressing prices. Every farm bill since then—including the one moving through Congress right now—has been based on two very dumb ideas: that farm businesses need welfare and that agriculture needs government central planning.

I recently came across “The Sickness of Government,” (PDF) a 1969 essay by famed management theorist Peter Drucker. It is strikingly relevant to the problems we see in Washington today from Obamacare, to farm programs, to IRS abuse, to NSA spying. Unlike, say, Ayn Rand–who at the time was writing about government from the standpoint of individual freedom–Drucker was writing from the practical perspective that Big Government simply wasn’t working.

Modern government has become ungovernable. There is no government today that can still claim control of its bureaucracy and of its various agencies. Government agencies are all becoming autonomous, ends in themselves, and directed by their own desire for power, their own narrow vision rather than by national policy.” “

 

 

 

   In simple terms , big government runs contrary to human nature . Competition , ambition and self-interest are the motors of the human spirit and government is the antithesis of all . Big government , by it’s very nature , contradicts the natural order of things as it attempts to do FOR the individual that which should be done BY the individual . 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Since The RINO’s Caved On Spending Can We Expect Any Less On Amnesty And Pork ?

 

 

 

” Fresh off his no-compromise victory against Republicans during the one-sixth government shutdown, the president has some more divisive issues in store for the American people. Wow, what a shock.

Among these: amnesty for illegal immigrants, passing a $3.8 trillion budget, raising taxes, and more kickbacks for Democrat allies. Anybody really surprised about this coming from the “professional activist” president?

Here’s a novel idea: Why don’t we let the American people determine their own agenda for a change, instead of giving more power to corrupt and inept Washington politicians to do it for us?”

 

 

 

 

 

 

 

Bad News For Wind Energy

 

 

 

” It’s generally been  recognized that using wind to generate electricity is inefficient, costly, and unreliable.

Now the news is getting out that it’s even worse than previously thought.

The report, The Performance of Wind Farms in the United Kingdom and Denmark, issued by the Renewable Energy Foundation in London, established that capacity factors for on-shore wind farms decline from 24% in the first year of operation to 15% in year ten, and 11% in year 15.

These results are amazing, in that the literature usually indicates a consistent capacity factor of 30%, which is what financial projections are typically based on.

The report holds even worse news for off-shore wind farms.

In Denmark, output declined from 40% in the first year of operation to less than 15% in year 10.”

 

 

 

 

 

 

 

Immigration Reform Is Dead And Obamacare Implementation Killed It

 

 

” Something did change in the immigration debate last week. But it wasn’t the realization that there is no “trigger” to force the House to act. That has been true since the beginning of the debate. What changed this week is that Republicans lost all trust in President Obama’s ability faithfully to execute the laws of the United States.

On Tuesday of last week, news broke that the Treasury Department was about to announce its intention to delay implementation of Obamacare’s employer mandate for a year. Nothing in the law gives the Obama administration authority to delay the mandate, but he did it anyway.

As bad as that blow to the rule of law was, the Department of Health and Human Services followed it up with 600 pages of regulations Friday, one of which also delayed a requirement that states verify the eligibility information submitted by applicants. Not only is this also not authorized in the statute, but, as National Review’s Yuval Levin notes, it is also an open invitation for those wanting health care subsidies to defraud taxpayers.”

 

 

 

 

 

 

 

 

 

THE 2013 FARM BILL

 

 

 

 

” The Farm Bill is currently moving through Congress, and it’s bigger and more bloated than ever. This year’s version will spend nearly a trillion dollars on broken food and farm welfare over the next decade. Unfortunately, Congress is poised to rubber-stamp this bloated welfare bill known as the Farm Bill.

Americans For Prosperity strongly encourages Capitol Hill to consider real reforms and meaningful savings to the 2013 Farm Bill.” 

 

 

Related articles :

 

Members of Congress Get Millions in Farm Subsidies

Rural Broadband Program in Farm Bill is Woefully Broken

No Farm Bill? No Problem

Update on the Farm Bill: Good News and Bad News

What savings? 2012 Farm Bill is agribusiness as usual (The Hill)

New farm bill: Welfare in disguise (POLITICO)

End direct payments to find spending savings (Real Clear Policy)

Farm Bill is Welfare Bill (Des Moines Register)

The Farm Bill is Bloated (Billings Gazette)

 

 

 

 

 

 

 

Elderly Lose Milk and Butter Because Of Rising Cost Of Muslim Immigrants

 

 

” This story is about a municipality in Sweden, but it could be about any number of countries in Europe, and for that matter it could also be about the United States.

Muslim immigration leads to high costs in violence and welfare, and the elderly end up suffering as all the money goes to pay for integration course for violent Muslim teens and their father and his four wives and their nineteen kids.

The money has to go somewhere and the social safety net paid into by the natives is embezzled, hijacked and looted to pay for the medical and criminal expenses of the Islamic colonists and settlers.”

 

 

LG Chem Michigan Has Little To Show After Spending Most Of $150M Federal Grant

 

 

 

” LG Chem Michigan, which received a $150-million federal grant in 2009 and more than $175 million in state and local tax relief, has not sold any battery cells to automakers, but has paid more than $1.6 million to workers who volunteered for animal shelters and charitable groups and watched movies and played video games or cards, according to a report an inspector general for the U.S. Department of Energy released today.

“We found that work performed under the grant to LG Chem Michigan had not been managed effectively,” wrote Gregory Friedman, the DOE inspector general. “Our review revealed that LG Chem Michigan inappropriately claimed and was reimbursed for labor charges incurred by a variety of supervisory and staff employees for activities that did not benefit the project.”

The department reimbursed the company for questionable labor costs incurred in the third quarter of 2012, but Friedman was unable to calculate the exact loss to the government because LG Chem Michigan did not track labor activities in detail.”

 

 

When it comes to scams , the most pertinent question to ask is ” Who Benefited ? ” 

Over a hundred million taxpayer dollars and no batteries yet ? 

” Other findings included that:

• The plant has not yet made battery cells that could be used in electric vehicles sold to the public.

• Only about 60% of the capacity agreed to when the grant was received was constructed, even though nearly $142 million of $151 million of the Energy Department’s share of the project’s funding had been spent.

• LG Chem Michigan officials estimated that the government would need to spend $22 million more to complete the five production lines called for in the agreement, an amount that would significantly exceed the remaining funds available.

• LG Chem Michigan had significantly underestimated labor costs.

• Documentation to support the grant indicated that production of battery cells would transition from LG Chem’s South Korean facility to the Michigan plant beginning in 2012, but that didn’t happen.

• Fewer than half of the 440 expected jobs had been created to support the project.”

Gun-Hating New York Pols Paid $6 Million to Bushmaster Rifle Manufacturer

 

 

 

” New York state has spent nearly $6 million over the past three years on subsidies for Remington Arms Co., the two-century-old factory in Ilion that makes firearms including semiautomatic rifles used by the military and police and like those used in the recent mass killings in Connecticut and Webster, N.Y.

A message for my gun-hating fellow New York taxpayers: This is just another example of how big government will always offend your values. Hate baseball, or the Yankees in particular? Too bad, you’re paying for ’em. Can’t stand junk food? You’re subsidizing the stuff, from producer to consumer. The more government takes, redistributes, regulates, and insures, the more you are footing the bill for behaviors, industries, and practices you abhor. A first step toward protecting your bruised values is to stop supporting the use of tax dollars to “save jobs.” ”

 

 

 

Big Bird Strikes

Tea Party News Network

 

Foreign Aid:

 ‘It’s Not actually Going To the People’

 ” Speaking at a conference at Bethel College, Acton’s Director of Media, Michael Miller, told the audience that while good intentions are necessary in the fight against poverty, they simply aren’t enough. Miller spoke directly on the topic of foreign aid to developing nations:

Western countries providing financial aid to developing nations seems to make sense, but there is no correlation between the extent of aid and economic progress in those countries, Miller said.

Much of the aid goes to foreign governments and helps subsidize corruption, Miller said. “It’s not actually going to the people,” he said, referring to that system as “crony capitalism.”  “

” It doesn’t matter what Obama meant . Here’s why.”

  “Conservatives suspect that President Obama sees government as the solution to everything. Only someone who thinks government is the answer would describe a stimulus program that cost at least $185,000 per job as successful. I can’t think of a starker difference between the liberal and conservative worldviews than the Life of Julia slide show. Liberals look at that video and see a woman
aided by a social safety net. Conservatives look at it and are creeped out by the fact that liberals
think the very-capable-seeming Julia can’t do anything without government help.

That same sentiment comes through in the “You Didn’t Build That” speech. Obama’s words
contain an undertone that business owners are selfish, that they are ungrateful toward those teachers who helped them along the way. And that is where Obama’s misunderstanding of small business, real or perceived, shines
through.”

Biden’s ‘good friend,’ donor receives $20M federal loan to open foreign luxury car dealership in Ukraine

  ” In late July, John Hynansky — a longtime friend of Vice President Joe Biden , and a major donor
to Biden’s campaigns as well as President Barack Obama’s — was awarded a $20 million taxpayer loan to build a foreign-car dealership in Ukraine. “

DANIELS: I won’t just shut up
and sing

  “Where I come from, a redneck is
just a hardworking man who gets up before the sun does and spends the day working outside, getting the
back of his neck rosy in the process.
I happen to think those folks are the
salt of the earth… – C. Daniels”

less than 2 percent of all federal spending

That’s some investment Barack .

” which includes not just spending on highways, but subsidies for Amtrak and Obama’s high-speed rail plans as well. ”

   It’s even less significant when you consider that it includes underwriting that perennial money loser Amtrak AND Obama’s pipedream highspeed to nowhere rail plans .

   Yes our Dear Leader has a fine grasp of economics and job creation .