Who Really Needs a Bailout

You've heard of the auto bailout, the bank bailout, the second auto bailout, the second bank bailout, the third auto bailout...bailout has now become a joke. Yet I want to talk about a group that really needs a bailout.

Local governments and transportation agencies

Recently, PBS did a special entitled Blueprint for America. The special points out that ridership for many major transit agencies is at levels not seen since the 1950s, when many big-city streetcar systems were in place. Even though ridership has increased, it is still not enough to keep agencies from being reliant on subsidy money, especially for new construction. Subsidies are largely based on gas and sales tax revenues, which have been down due to the recession and falling oil prices, and overall government spending, which has been cut in states that have balanced budget amendments (stupid) and 2/3 majorities (stupider). The federal government should swoop down and pick up most of the tab, probably now somewhere in the billions of dollars, to stop the rate cuts and fare increases and allow them to build much-need light rail and subway expansions. And I know that Republicans will kick and scream, but this is necessary for the good of the country...the bailouts for the bank industry and the auto industry benefited primarily shareholders and executives, who generally are more wealthy than the average American. A transportation bailout would benefit all Americans by continuing service to people without. So stop worrying about AIG and Wachovia and start worrying about the transit problems faced by ordinary, downtrodden working-class Americans. Plus, according to Gavin Newsome in the interview, a strong transit system. And I agree with him, citing what the Gold Line has done to Pasadena and what's gone down in Charlotte. And that's this week's blogpost.

Senate Bill Passes Senate...On to Conference Committee

Yes, the stimulus package passed the House by a vote of 61-37, with only Collins, Snowe and Specter supporting it (the total does not add up to 100 because Gregg sat it out and the Minnesota seat is still vacant). Though the only Senators to support the measure (Snowe, Collins, Specter) came from states that comfortably voted for Obama last November, this means that part of Boehner's gamble hasn't paid off. In a post-passage news conference, Sens. McConnell (R-KY) and Kyl (R-AZ) attacked the bill for turning the United States into a Socialist county like the rest of the industrialized world, and roasted the amount of (including "pork" for improving our schools and energy grid!). You can view it here, or you can also get the link by clicking on the picture of the vote.

Coverage by the Los Angeles Times
Coverage by C-SPAN
Coverage by National Public Radio

Now that the bill has passed, it goes to conference committe, where the major differences between House and Senate versions, deliniated below


Personally, I hope the conference committee sides with the House on most of the issues--you'll note that the House has allocation more money for infrastructure (the actual subject of this blog), as the bipartisan committee decided to cut the spending on infrastructure improvements suchs as roads, schools, and broadband technogoly. This is very unfortunate, since sectors that would be put to work by those measures (i.e. home construction) have been among the worst hit by the recession. The elite chamber also slashes funding to states, which are in worse shape than the federal government and have to fund most of the infrastructure projects not funded by the feds. The one thing I side with the elite chamber on is increased spending to bring our green energy grid into the 21st century, curtail our dependence on foreign oil, and decrease the trade deficit that is a major cause of the recession.

Yes, readers, I tend to side with BIGGER numbers, because I'm a big-government tax-and-spend hippie Greepeace Liberal pinko Commie Socialist...and I feel that bigger spending will give the First Tiger the appearance of actually doing something.

And that's today's rant. Coming up, I report on the conference committee's findings, and I channel Prometheus.