Echoes Of Iraq War: White House Claims Bailout Will Pay For Itself
To justify the exorbitant cost of the bailout for the financial industry, Bush administration officials have been repeating the dubious claim that American taxpayers should expect to recover much, if not all, of the proposed $700 billion:
PAULSON: This is not an expenditure. … Money will come back in.
BERNANKE: What’s clear is that the $700 billion is not an expenditure. There’s going to be a substantial amount of recovery.
BUSH: Money will flow back to the Treasury as these assets are sold, and we expect that much, if not all, of the tax dollars we invest will be paid back.
To justify the exorbitant cost of the bailout for the financial industry, Bush administration officials have been repeating the dubious claim that American taxpayers should expect to recover much, if not all, of the proposed $700 billion:
PAULSON: This is not an expenditure. … Money will come back in.
BERNANKE: What’s clear is that the $700 billion is not an expenditure. There’s going to be a substantial amount of recovery.
BUSH: Money will flow back to the Treasury as these assets are sold, and we expect that much, if not all, of the tax dollars we invest will be paid back.
Lousiana Lawmaker Faults Media For Focusing Attention On His Eugenics Proposal
Louisiana State Rep. John LaBruzzo (R) recently stirred controversy by advocating a form of eugenics to decrease the number of poor. “I realized that all these people were in Louisiana’s care and what a massive financial responsibility that is to the state,” he said. “I said, ‘I wonder if it might be a good idea to pay some of these people to get sterilized.’” His plan would also give tax incentives to the rich to encourage procreation.
Appearing on CNN, LaBruzzo defended his proposal by arguing that “the taxpayers of America are kind of getting fed up” with supporting welfare programs. He cited the “totally reliant” residents who relied on government evacuations during Hurricane Katrina. When CNN’s Kyra Phillips asked why he couldn’t invest in education and poverty-reduction programs, LaBruzzo faulted the media for focusing too much attention on his eugenics program:
Louisiana State Rep. John LaBruzzo (R) recently stirred controversy by advocating a form of eugenics to decrease the number of poor. “I realized that all these people were in Louisiana’s care and what a massive financial responsibility that is to the state,” he said. “I said, ‘I wonder if it might be a good idea to pay some of these people to get sterilized.’” His plan would also give tax incentives to the rich to encourage procreation.
Appearing on CNN, LaBruzzo defended his proposal by arguing that “the taxpayers of America are kind of getting fed up” with supporting welfare programs. He cited the “totally reliant” residents who relied on government evacuations during Hurricane Katrina. When CNN’s Kyra Phillips asked why he couldn’t invest in education and poverty-reduction programs, LaBruzzo faulted the media for focusing too much attention on his eugenics program:
Every one of the ideas you brought up were talked about in the brainstorming session. Obviously the media thought this was the one they could get some ratings out of. We talked about getting involved in the community. … We talked about a lot of those issues. This is one that the media grabbed hold of because it gets ratings.
He also blamed the “tremendous influx of illegal aliens” for “bringing down the economy even more.”
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