Congress Helps Its Own
Diana Furchtgott-Roth, RealClearMarkets
WASHINGTON-Although private sector employment has declined by 7.8 million since December 2007, on Tuesday President Obama signed into law the Education Jobs and Medicaid Assistance Act, a bill that would spend $10 billion on state and local government workers and $16 billion on state Medicaid payments. Not a penny for the private sector.The $26 billion will be funded primarily by higher taxes beginning in 2011 on multinational corporations ($10 billion over the next decade) and cuts to the Food Stamps program in 2014 ($12 billion). No one seriously thinks that the Food Stamps cuts will...
http://www.realclearpolitics.com/2010/08/12/congress_helps_its_own_239563.html
