America at its best; Just kidding. December 27, 2015Posted by hslu in Congress, Debt and deficit, Oil, Politics, US Government.
Tags: DRIVE Act, Federal budget deficits, Import-Export bank trust fund, The Highway Transportation Bill, US National Debt
This is an example of the United States government at its best: spending our tax money!
Have you heard of the new highway bill that US Senate has introduced about six month ago? I bet that you haven’t.
Do you know what the bill was called? I am sure that you don’t know.
How much money are we talking about？I know you don’t have a clue。
Do you know what that highway bill was for? You might have guessed it but you may only be partially correct.
Wells, here are the answers you are dying to find out.
The new highway bill was fittingly called the “Developing a Reliable and Innovative Vision for the Economy Act.”
Yes, you are right; it is may be cited as the “DRIVE Act” according to the language in the Bill.
As far as I can tell after adding up all funding for 14 programs, the total appropriation for the bill is $193,532,100,000.00 for the next six years. For those math challenged individuals, that’s $193.5321 billion dollars.
The highway bill is to:
- Fix interstate highways, bridges, tunnels and other federally funded highway infrastructural projects.
- Recapitalize the Highway Trust Fund, one of many Trust Funds managed by the United States government. As you might be aware that the Social Security’s “Old Age Survivor’s Insurance” and “Disability Insurance” are two infamous ones. In case you don’t know, the Highway Trust Fund has run out of money for a while now.
- Re-authorize the Export-Import Bank which was designed to promote international trades. You might treat it as subsidies to Boeing, General Electric and other big companies in America.
- National Park Service
- United States Fish and Wildlife Service
- Federal Lands Access Program.
- Bureau of Transportation Statistics.
- Highway research and development program.
- Technology and innovation deployment program
So where does the U.S. Senate plan to get the funding from to pay for the DRIVE Act?
From the tax money you and I paid to the IRS, of course.
But, that’s not entirely correct.
The Senate plans to steal $300 million from the Leaking Underground Storage Tank trust fund (Yes, you guessed it: it is called LUST fund.) However, there isn’t any money in the LUST fund. But that’s okay with the senators.
Some money will come from selling 100+ million barrels of oil from the Strategic Petroleum Reserve. But wait; did any Senator watch CNBC recently? If any of them has, he or she must know that oil price have tanked recently; dropping from $100+ per barrel about a year ago to about $35 per barrel now.
Looks like the Senate is desperate now.
There you have it, folks. This is your government. This is America at its best.
Oh, did I mention that if you owe tax to the IRS; $50,00 or more, you better stay home at all times starting from January 1, 2016. This is because that the good Senators have authorized IRS and the Immigration office to confiscate your passport at the airport until you cough up the tax, interest on the tax and penalties.
Now, how do you like that?
BTW, how much does the American government owe and how much does the American government have to borrow just to pay its bills?
The funny thing is that most of them get to come back to Washington DC after each election. Whoever voted for these clowns please stand up and let us see who you are.