American Recovery Act: A PONZI Scheme

IN 2009, as a part and parcel of the American Recovery and Reinvestment Act, President Obama allocated $14.7 billion to repair and modernize public housing as well as offer tax credits to builders for financing low income housing construction. Today, this portion of the Act is being hailed as a complete failure…

Of course, the failure is not being blamed on the Act or Obama, but on ‘White Contractors’ and racial prejudice.

It is another form of forcible equality in a world that is and always will be ‘unequal’. Knowing that even a newly constructed modern housing development will soon be left to squalor and decay because maintenance is a foreign concept, it is no wonder that neighborhoods clamor to object when their property values will tank in response.

New York is the perfect example of the throw away ideal in which HUD Housing was left to rot, rents were not collected, and buildings became rat infested homes for squatters.   De Blasio’s response was to shutter them and ask for more money to build new ones that would eventually evolve into the exact same state of deterioration. Why? Because maintenance costs money that De Blasio would rather spend on wealthier initiatives…

Of course the other more glaring hypocrisy of this debate is the fact that HUD housing is comprised mostly of whites in poverty as they make up the largest statistic… Oops.   Second are Hispanics, and third are blacks. This reality rather flushes the obtuse racial discrimination claim as an issue and puts it where it belongs – in the twalette. Trying to foment divide based on race is the number one promotion of Mainstream Media.   Obscuring facts, playing roulette with statistics, and downright lying seem to be the new normal. While they claim to represent The People, their journalistic philandering is rife with corruption.

Part of the problem in the forced housing debacle is the ethical concept of ‘earning what you have’ whereby you are actually rewarded for your efforts… A foreign concept any longer. Free income, free upscale housing, free food, free healthcare, free child care, free transportation… well, why bother to earn a living when you can have everything for free?

But the point is the fact that the class integration was just another failed measure of the American Recovery and Investment Act written before Obama took office by unknown drafters, and pushed through almost immediately in 2009. And like Obamacare, it is an abject failure.

Of the $831 billion dollar package, $155 billion was allocated to Healthcare including, building of VA hospitals…, Medicaid, IT , Research and VA Administration. Mired in cost overruns and mismanagement in the VA core, the $2.3 billion was a failed waste. Interestingly, while the VA got $1 billion for hospitals, NIH got $10 billion. With a $31 billion annual budget, NIH has been scrutinized for less than transparent reporting and vague accomplishments.

In 2009, with the additional $10 billion allocation, their one and only target research was, “how voltage ion channels interact with their surroundings”.   The ultimate impact? Research findings provide ‘perspective’ for a new direction of targeted therapeutic development…

Another challenging use of the $10 billion was to research a new method to measure abdominal pain… Because the pain scale that we all know “on a scale of 1 to 10”, wasn’t definitive enough…

Another $100 billion was allocated to Education with the primary use of the funds directed to “prevent layoffs and cutbacks”. Obviously that hasn’t worked very efficiently either given the latest report states that the US is facing a severe crisis due to a shortage of teachers…

So what exactly did this $831 billion accomplish?

$70 billion was allocated for a one year – 2009 – increase in the Alternative Minimum Tax floor… But the annual revenue raised by AMT per year only amounts to about $35 billion…   So, in other words, we spent $70 billion to reduce receipts by about $10 billion or less given it was only the floor that was altered, not a complete repeal of the tax!

Now that was definitely a worthwhile expense. So where did that money actually go?   We are missing an accounting of the use of these funds… Much of the “USES” were subjective, based on a perceived loss of IRS funds based on credits. So while the cost, the $831 billion, was actually charged to taxpayers, the USE was actually never accounted for or disclosed.

Tch, Tch. Nothing more than a covert Ponzi Scheme, only every single American Taxpayer was the victim. Madoff? Nothing by comparison.

NEXT!

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