I'm a Pundit Too

Thursday, May 7, 2009

Who Is Watching How Our Money Is Spent?

Back in February, after President Obama and the Democratic majority in Congress passed the $787 billion stimulus bill, we were told no to worry about massive fraud and waste because they government was going to closely monitor where the money was going. Vice President Joe Biden even went out and threatened the local and state government officials that if they spent the stimulus money unwisely, he would personally go out and name names of the wasteful spenders. We were assured that the government would set up a website so that we could check for ourselves where the money was going. Shockingly, the truth is that the government has no clue as to where the money is going and the elected representatives who signed the check don’t seem to care.

This week the House subcommittee tasked with oversight of the massive amounts of money hemorrhaging from the Treasury Department, held a hearing to get an update on the progress of the website and other tracking methods. The chairman of the Recovery Act Accountability and Transparency Board, Earl Devaney, told the panel that the website is not ready and probably will not be ready until maybe next year. One would think that this news would raise some eyebrows of the Congressman on the panel, but unfortunately the most of the members decide dthat it was not important to even show up for the hearing. Of the 10 members only 3 showed up in the beginning, with 1 other member showing up late. I suppose that this should not be surprising, especially when you consider that no one in either chamber of Congress actually read the “stimulus” bill before voting on it.

At least we can count on the President to follow through on his promise of going through the federal budget line by line to find areas to cut the spending. This week the President did come out and announce his proposed budget cuts from his $3.55 trillion budget. He plans to make more than 100 cuts in his budget that will save the taxpayers $17 billion. To put it in perspective, if the federal budget were just $355, the President’s cuts would equate to $0.17. How excited would you be if you were buying a new TV and the salesman told you that he could save you 17 cents? Obama’s proposed budget cuts out of his budget amount to less than .5% of his total budget proposal. Do you feel that the government is effectively watching out for your hard earned money?

With a Federal budget deficit forecasted to be more than $9 trillion by the Congressional Budget Office over the next decade when can we expect the President’s promise of fiscal responsibility to be fulfilled? I suppose we could just hope that Congress and the President will change the drunken sailor spending habits. Then again, didn’t thousands of people show up in cities across the country to protest the ludicrous spending and overbearing taxation? Maybe elected officials will take notice of the groundswell of discontent over the tax and spend policies of the current administration. I believe members of both parties need to wake up and see the disastrous future they are preparing for our children. Otherwise they will all find themselves out of work in 2010.

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