Still lining up

by thoughtfulconservative

Coming up: A huge pension bailout?

Falling markets and a sour economy have opened a gap of more than $200 billion in the pension plans of S&P 500 companies, including Ford and GM. Will taxpayers get stuck with the bill?

“We’ve got to take care of these people.”

Colin Powell said basically the same (this is a half hour section of the full CNN “GPS” interview–no transcript yet the transcript is here. The quote comes fairly early.), while attempting to explain “Share the wealth.” We have to use the wealth of the country to help those who need help. UPDATE: Here’s the exact quote:

That’s what sharing the wealth also means, not just giving to people who are, you know, not deserving of it. But sharing the wealth through taxes means that you take the wealth of the nation, the wealth of all the people in the nation, and you use it for a common good. And so, in that regard I am probably left-of-center. [Emphasis mine]

UPDATE 2: I should have included this piece also. He names the home building industry, states, newspapers, home owners, things that have been mentioned before.

But there’s this quote,

Investment firm Bridgewater Associates, in a report this week titled “The Shock and Awe That Is Necessary,” estimated that the government would have to boost its spending to 25% of gross domestic product, from about 20% earlier this year and just 18% in 1999, “to offset the collapse in the private economy.” And that would just get the U.S. to a zero growth rate, not back into expansion mode.

The era of small government is over,” the firm said.[Emphasis mine]

UPDATE 3: OK, here’s another,

With estimates of the package, which will be considered by the new Congress starting in January, topping out at anywhere between $500 billion and $1 trillion, ailing sectors such as home builders and sellers, airlines, railroads — and, yes, the auto industry — view the stimulus as a means to get healthy again.

That includes the air conditioning industry, America’s libraries and even catfish farmers.

All of them, and many more, have deployed lobbyists to Capitol Hill in hope of benefiting from the spending spree.

There follows a litany of industries and their wish lists.


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