Tuesday, August 12, 2008

We have enough federal programs

Uncle Sam will take care of everything, right?

Which is why taxpayers are bailing out Fannie Mae and Freddie Mac, two anthropomorphic bureaucracies that were supposed to protect the nation from bad mortgages.

After 70-plus years, they did the opposite by making it easier for banks and other lenders to lend money to people who did not make mortgage payments.

Another example is the U.S. Department of Energy. It was created in the Carter administration to make the nation less dependent on foreign oil.

We have doubled our dependence since that time, and the nation actually produces less oil than it did 30 years ago.

This is called failure.

It now costs taxpayers $30 billion a year to keep this failure going. [not including the 700B$/yr. going to foreign oil companies]

Let's get rid of it...

READ MORE

No comments: