Hey, spending is the Keynesian way. Never mind the fact that spending for AIG didn't improve the company (it just posted a big loss.) Spending on GM only managed to sucker in a bunch of new investors (investors have lost close to 10 percent of their money.) Bailing out foreclosure victims has only prolonged the pain and kept housing prices artificially HIGH. And that spending money that has been stolen from those who rightfully earned it is UNETHICAL.
Never mind all that. Spending is the Keynesian way, and spending is all that our government knows to do.
It won't work. The U.S. is on its way to economic annhilation. It's nice, though, that California's many unemployed will have such an attractive place to bed down each night. (see artist's rendering, below)
Kudos to Florida for having refused this blood-money.
California gets federal high-speed rail funds
May 9, 2011
Latimesblogs.Latimes.com
California, Illinois and 13 other states, along with Amtrak, will share $2 billion in federal grants aimed at developing high-speed rail service, money that had been rejected by Florida, officials announced Monday.
California Sens. Dianne Feinstein and Barbara Boxer praised the award. In February, the senators urged U.S. Transportation Secretary Ray LaHood to send their state the money Florida had rejected.
"This is great news for Californians, who have already made strong financial commitments to infrastructure projects," Feinstein said. "I applaud Secretary LaHood for responding to our request and allowing the state of California to utilize these funds to advance high-speed rail. No other state is as ready and able to lead the way in demonstrating the viability of high-speed rail."
"I'm thrilled at this latest investment in California's high-speed rail system, which will create thousands of jobs and help us build a cleaner and more efficient transportation system to move people all across our state," Boxer said.
The grant will be awarded to the California High Speed Rail Authority to extend the currently proposed Central Valley route an additional 20 miles, they said. The Central Valley route would eventually provide 220 mph high-speed rail service from Los Angeles to San Francisco.
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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