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Granholm-Cherry administration to unveil most hypocritical budget of their careersBy Nick, Section News
Four months after billions of taxpayer dollars began pouring into many of the country's banks, Michigan has yet to see any major tangible benefits from the government bailout program.
That's the word this morning in the Ivory Tower. Democrats on Capital Hill are in the process of raking bank presidents over the coals this week because the billions of taxpayer dollars they gave them seem to have up and disappeared. They plugged budgetary holes, they erased red ink and they kept banks afloat... all well and good and nice and pleasant but not exactly what was expected of them. That initial bailout was supposed to stir job creation and open up the lending spigots. None of the banks seem to know if it has. Alas, it appears the money was used as a one-time fix. Welcome to Thursday, February 12, 2009, the day the Granholm - Cherry administration is expected to reveal their budget for the coming year. To reveal their budget and to commit the exact same bailout-spending-sin that has Congressional Democrats foaming at the mouths this morning! Read on...
A few key facts, courtesy of the Associated Press:
Republican lawmakers don't want to rely on the federal money to fill budget holes. Granholm has pledged not to use the extra dollars to increase spending. Four sentences that could do with plenty of unpacking. That $1.6 billion budget shortfall... that is, remember, in spite of the Democrats' insistence that a $1.5 billion tax hike in 2007 would solve our budget problems long-term. Sold a bill of goods, much? Sound like maybe government spending was and continues to be the problem? The second sentence... Congressional Democrats are going to give Michigan Democrats billions of additional taxpayer dollars. Swell of them to help. Graph two, sentence one... You can just retype that one: Republican lawmakers are tired of one-time tricks and gimmicks, especially after Jennifer Granholm so successfully blamed the tax hike of 2007 on over-long reliance on one-time tricks and gimmicks. The thing about tricks and gimmicks, they don't address the fundamental structural budget problems. And problems, we've got plenty. Graph two, sentence two... Granholm has dramatically and suddenly reversed course and is now a fan of one-time tricks and gimmicks. The unwritten subtext in that last sentence is something along the lines of... "and the MSM won't bother reminding anyone of her hypocrisy, either." If the Democratic administration is serious about fixing Michigan's chronic budget problems they will propose a budget today that balances out perfectly without a single new federal dollar. In other words, it will be $1.6 billion less than it was last year, reflecting the dramatic drop in revenue (funny what happens to tax receipts when you suck the life out of an economy with the largest tax hike in history). I'm thinking that's a long shot. Hypocrite, thy name is Granholm. And I DARE someone in the MSM to do a bit of honest reporting on this back peddling.
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