Friday, March 11, 2011

Ways and Means Democrats: Let's Add New Debt

Leading Ways and Means Democrat Sander Levin (MI) has submitted H.R. 992, the Building America Jobs Act, to support bonds enabling $181 billion in infrastructure spending. The bonds would subsize spending at about 30% on hospitals, water and sewer systems, intracity buses and similar infrastructure assets and continue tax incentives for Recovery Bonds, municipal water and sewer bonds and low-income housing.

Apparently Mr. Levin did not get last November's memo on the present level of Federal spending and Federal debt. While many of the proposed items may have value in a vacuum, the present U. S. financial position hardly qualifies as a "vacuum" these days.

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