Infrastructure Bank: A Bailout By Any Other Name

The night after a verbal trashing on his handling of the economy from the GOP presidential debate, President Obama took the stage in a Joint Session of Congress to reveal a new jobs initiative aimed at putting "Americans back to work." Gee, where have we heard this before? Included in this jobs plan rests the holy grail of liberal spending: an Infrastructure Bank. According to the teleprompter-in-chief, the Bank will provide "billions" to improve our roads, bridges, ports, and electric grids. Easy translation: "We are going to throw more money at the economy and hope it works.  Please believe in Keynesianism one more time." In an effort to forget one failed stimulus effort, the President is hoping to co-opt both sides of the political aisle to back him on another government enterprise. Unlike his effort to bring the unemployment rate down, Obama is succeeding on this front. Both the AFL-CIO and Chamber of Commerce are backing the Infrastructure Bank.  Since construction...(Read Full Post)