It is no secret that many of the Obama Administration’s transportation initiatives have taken taxpayers for a ride. The culprit has been the tens of billions of dollars in funding for high-speed rail projects that the federal government has attempted to force down states’ throats.
Taxpayers Charged Billions to Anoint Green Car Manufacturing Winners
In an effort to alleviate the burden of rising gasoline prices on the economy and reduce vehicle emissions, Congress passed the Energy Independence and Security Act (EISA) in 2007. The legislation ramped up fuel economy standards and encouraged the use of renewable fuels.
California High-Speed Rail: Way Off Track
In November 2008, California voters approved Proposition 1A, a $9.95 billion bond measure to fund part of the state’s share of the proposed high-speed rail line from Anaheim to San Francisco. The bond was approved by a narrow margin of 52.7 percent of the 12.6 million votes. The railway was supposed to be up and running by 2020, and the total cost was estimated by the California High-Speed Rail Authority (CHSRA) at $33 billion. While it was easy to see why some balked at the price estimate, one could also understand its support, at least among potential beneficiaries. After all, taxpayers outside the rail corridor, both in California and across the country, were supposed to pick up $6.8 billion, or one-quarter of the railway’s $27 billion initial segment.
Don’t Get Fooled Again – Auto Bailouts Still Stink
On Tuesday, May 24, 2011, the Democratic National Committee (DNC) unveiled a video that can only be described as the first Obama-for-President advertisement of the 2012 election cycle. The video purports to skewer likely presidential candidates Mitt Romney, Tim Pawlenty, and Newt Gingrich over their opposition to the auto industry bailouts of 2009. Since General Motors (GM) and Chrysler have graciously paid back some of the money that taxpayers were forced to loan to them two years ago, Democrats are seizing this opportunity to try to make critics of the bailouts look bad. In so doing, they ignore the case against bailing out private companies, misleading claims by Chrysler, and the remaining losses that will come from the taxpayers’ investment in GM.
High-Speed Rail off the Tracks
When stumping for Rep. Tim Bishop (D-N.Y.) in October 2010, Vice President Joe Biden made a telling statement regarding the government’s role in investments. He credited the government with “every single great idea that has marked the 21st century, the 20th century and the 19th century,” adding that “in the middle of the Civil War you had a guy named Lincoln paying people $16,000 for every 40 miles of track they laid across the continental United States. … No private enterprise would have done that for another 35 years.”
All Signs Point to a Waste of Tax Dollars
A strange unfunded mandate from the federal government is slated to cost taxpayers millions of dollars over the next few years. A new regulation by the Department of Transportation dictates that all street signs must be in a mix of upper and lower case font, and must meet new higher reflectivity standards. Local governments must pay for the replacements themselves. Each sign typically costs more than $100, so high-density areas face huge costs. For example in New York City, the cost is projected to reach $27.5million. It will cost smaller cities, like Milwaukee, approximately $2 million.
Carolina on Taxpayers Minds
Rep. James Clyburn (D-S.C.) has never been accused of being a fiscal hawk. In fact, he is quite well known for bringing home the bacon. CAGW’s 2010 Congressional Pig Book documented 41 earmarks worth $55 million requested by Rep. Clyburn.
GM’s “Claims” of Repayment
During the economic crisis that unfolded over the last few years, the federal government became the lender of the last resort, not because it had any money, but because it had the ability to borrow money on behalf of the taxpayers to lend to struggling businesses.
Taxpayer Money Flying Out the Door
Even if many Americans don’t think that the stimulus package is working, there is still a desire to ensure that the money is being spent wisely rather than being thrown down a rat hole. But, the news that is trickling out from the states does not look good.
Let the Sun Shine In on How The Government Spends Your Money
The nation just marked the six-month anniversary of the American Recovery and Reinvestment Act (ARRA), or the stimulus law, that Congress passed hurriedly in February. Billions of our hard-earned tax dollars were injected into the ailing economy. In that mad rush, we were told there wasn’t time to work out all the details.