Erik Larson

Feb 10, 2009

Snookered

We’re getting snookered. This is bad. Who remembers the “Troubled Assets Relief Program” (TARP), 700 billion in spending approved just months ago? Well, that’s not interesting anymore. Silence on TARP. Now another 800 billion from the latest American Recovery and Reinvestment Bill. This will work!

TARP was supposed to right the ship. That’s how it was sold, to the sceptical public (remember?). And yet, no discussion anymore, nothing. And now a new bill presumably because we have a new administration (TARP was Bush, and therefore failed), and it’s another 800 billion. What about TARP? Sold to us in the same way: huge spending necessary to avert disaster. Months later we can’t even remember what happened to the money, or why it was approved.

In the meantime our debt grows to proportions never seen before, and our elected officials play these games with the public. Why not, the public has a short memory…