The American Jobs Act: High-$peed Rail, Road$ and Green Boondoggle$
President Obama's jobs bill is finally available, you can read it here. See what nuggets you can find in its 155 pages.
The high-speed rail boondoggle costs $4 billion, and is on page 29. Take a look at how California's high-speed rail project is going: It's hideously wasteful and expensive, even according to liberal Kevin Drum. Obama's $4 billion adds to the billions the federal government has already spent, and is in the end just a drop in the lake of spending that high-speed rail will be.
The American Infrastructure Financing Authority, aka the "infrastructure bank," is set up on page 40. That multi-billion dollar entity amounts to a union jobs slush fund as long as any Democrat controls appointments to the board. Think NLRB plus walking around money, courtesy the American taxpayer.
And despite the scandalous green failure that Solyndra has become, the Barack Obama's Job Act continues the trend of spending billions on sundry green initiatives. The AJA text is peppered with references to "green building codes," "green projects," "green roofs" and the like. To the tune of about $25 billion.
All paid for, according to OMB Director Jack Lew, not by cutting any spending elsewhere but by raising taxes on job creators. In the American Jobs Act, President Obama has attempted to set up a "heads I win, tails you lose" scenario with the Republicans. Pass it and his pet projects and favored unions get payoffs while the rich get soaked. Don't pass it, and he'll use that to run against a do-nothing Congress.
Unfortunately for him, he is nowhere near popular enough to pull that off. His speech last week kicking off the sales pitch for the AJA resulted in him losing ground in the polls.