A report by the US Chamber of Commerce says that the Highway Trust Fund, the fund that allows Congressmen and Senators to get re-elected through pork barrel projects, will be bankrupt by 2008. How you ask? Simple. They are spending more than they will take in.
The Trust Fund is accumulated through Federal Taxes from gasoline sales from you. Over the six year period from 2004-2009, the Fund is expected to take in $231 billion. Incidentally, the bill was not passed and signed until July 2005, because almost every Congressman and Senator had a special earmark or pet project. This caused the House to try and pass a bill for almost $320 billion, but they somehow found a way to get it down to $286 Billion. Yes, your math is correct, they are $55 billion short. Like Social Security, the slush fund will be zero in 2008.
In typical Washington fashion, a fund that was setup to build bridges and highways now helps fund additions on college campuses and other pork projects to make sure that official can say that they got " their fair share". My response goes back to childhood: If your friend builds a bridge, does that mean you have to? This is the exact thought process that has caused the deficit to skyrocket.
This is not a partisan issue. Both parties are losing their minds, because bridges are like supermodels - you can point to them and say, "look what I got!" Voters focus on tangible things they can see. Like your dependable wife, lower taxes and jobs just aren't glamourous enough to show off.
We just had a huge fight on Capitol Hill about spending and tax cuts hurting America. Meanwhile $55 billion that isn't paid for is staring us right in the face. Unfortunately, the slogan in Washington is, "Pork: It's What's for Dinner".
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