$750 Billion more for Big Money in Obama budget, but not one cent for single payer
The official, speaking on condition of anonymity, said the White House hasn’t decided whether the $750 billion in additional aid to the financial industry will be needed. He said it will be put in the budget as “placeholder.”
The official said the aid would appear in the budget as about $250 billion because the rules require policymakers to record the plan’s net cost to taxpayers. The government anticipates it would eventually recoup some, though not all, of the money expended to help financial companies.
Of course, of course. That's why Big Money can't find a bigger fool (except the taxpapers, of course) to buy its toxic assets -- because they really are worth more than $0.00. Uh huh. Somebody with more accounting expertise than I have will have to tell me whether this accounting is "funny" or not.
But funny or not, the accounting is hilarious. Why? Because it shows priorities so clearly.
The administration is willing, nay eager, to spend $750 billion dollars on Big Money, even though we don't know what the trillions we already spent went for, or to whom, since the entire process completely lacked transparency and accountability.
Meanwhile, the administration isn't even willing to put single payer on the table, although single payer is proven to work, and would save $350 billion dollars a year. They are, however, willing to spend $60 billion dollars a year to shore up the insurance companies' business model of denying care for profit.
The priorities couldn't be more clear, could they?
NOTE This is good, however, even if the story and, I suppose, the leaks lack detail:
More like this, please.
The administration official said Obama plans to pursue deficit reduction by cutting spending on defense, an area with “significant” opportunities for savings. Agriculture subsidies also are targeted for reductions, with the administration pushing to phase out payments to farmers earning more than $500,000 annually.