Tuesday, February 17, 2009

Here it is. Transparency & Accountability. Recovery.gov

"Your money at work."

Ok. I'm willing to believe this statement from President Obama's website. My tax money and your tax money presumably is at work. As long as we won't ever learn again that OUR money is helping a bunch of bankers "relax" at an exclusive resort or that bailout money is paying for private jets, I'm cool.

For the time being.

The problem is, I don't know how much time I should give the "recovery program" before I begin to doubt it's success.

You do notice the semantics, right?

Bush's bailout and Obama's recovery.

Please pardon my skepticism, but we've all seen the results of Bush's plan.

On the other hand, Obama's plan is different.

Let me get the intro to the website out of the way. Here it is:

The American Recovery and Reinvestment Act will be carried out with full transparency and accountability -- and Recovery.gov is the centerpiece of that effort. In a short video, President Obama describes the site and talks about how you'll be able to track the Recovery Act's progress every step of the way.

Welcome to Recovery.gov

Recovery.gov is a website that lets you, the taxpayer, figure out where the money from the American Recovery and Reinvestment Act is going. There are going to be a few different ways to search for information. The money is being distributed by Federal agencies, and soon you'll be able to see where it's going -- to which states, to which congressional districts, even to which Federal contractors. As soon as we are able to, we'll display that information visually in maps, charts, and graphics.


Ok, now you and I can click away our discontent over the secrecy of the Bush administration and see first-hand where Obama and our tax dollars are going.

Will this plan work or not?

Patience, I remind myself...knowing full well I have none.

Just as a reminder, check this link for a quick look at at the New York Times which gives an overview up to February 10th of the $8.8 TRILLION dollars of OUR MONEY already committed to propping up the financial system.

Adding Up the Government’s Total Bailout Tab

Beyond the $700 billion bailout known as TARP, which has been used to prop up banks and car companies, the government has created an array of other programs to provide support to the struggling financial system. Through Feb. 10, the government has made commitments of nearly $8.8 trillion and spent $2 trillion. Here is an overview, organized by the role the government has assumed in each case.


Obscene, isn't it?

A couple of questions.

Why isn't anyone being held accountable for this financial mess? (I want names.)

Why haven't we seen anyone responsible hauled in front of a judge like Bernie Madoff? (Madoff apparently made off with only $50 billion. Since the entire world is affected anyone care to put a figure on the collapse of the world's finanical system?)

Bush's plan did nothing, nada, zip as far as I'm concerned. Is there an Obama Plan B if the "recovery program" doesn't restore some semblance of normalcy?

I truly, sincerely, and almost desperately hope President Obama's recovery plan succedes in a world-wide economic boon.

But, I still think giving every adult over 21 in the US a nice check for say a $100,000 would have produced economic recovery in a flash.

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