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Wednesday, December 17, 2008

FromDC2Iowa: A car in every garage

Excerpted from this post at FromDC2Iowa

Harkin Didn't Write Again Today ... Iowa's Senator Tom Harkin is drawing
on the politics of fellow Iowan Herbert Hoover, who once promised "a
chicken in every pot, a car in every garage" -- but you have to get
your own chicken. If all a CEO wants to do is keep her company from
going bankrupt laying off workers makes economic sense -- especially
if the top priority is hanging on to her multi-million-dollar salary
and benefits package. And if she's a friend of yours, and you are a
government official with the discretionary ability to dispense
trillions of dollars, giving her a few billion also makes sense. But
if what you're trying to do is turn around the economy, it doesn't
make a lot of sense to give money to the CEOs who are trying to sell
stuff rather than the consumers who would like to buy stuff, have the
power to drive 70% of our economy, and are out of work because of some
CEO's decision.

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