Thursday, January 29, 2009

It's in fact Obama's conduct that's more shameful

"Obama calls $18B in Wall St. bonuses 'shameful'" reads the headline.

Oh really?

First, he paints with an overly broad brush. My employer managed yet another quarter of profit and so paid out bonuses last month. We sure as hell didn't get federal funds, so why should we be called "irresponsible" or have our behavior attacked as "shameful"?

Second, Obama isn't admitting that, uh, these companies that received TARP funds and are paying bonuses could afford to because of...the TARP funds. Obama is right in the thick of that: he not only supported the original TARP but is now promising a second round. So he's an accessory by facilitating the companies' ability to be irresponsible.

Third, Obama is a hypocrite. If $18 billion is shameful, then what is a stimulus of over $800 billion that's effectively 100% pure pork? Actually, it's worse than that: it's 100% stolen money. It has to be stolen, otherwise people would have already voluntarily spent it on these projects, without government forcing them into it.

Shame on you, Barry.

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