Tuesday, February 17, 2009

Welfare State

This can't be good: According to the Treasury Department,
North Carolina is receiving more funds from the TARP bailout than any other state except New York: $28.5 billion!

Of course, to say that North Carolina is receiving it is a huge misstatement. Almost all of that money is going to Bank of America. The mega-bank is essentially being rewarded for unfair competition - using unsustainable business practices to put all our homegrown local banks out of business. Now it's up to the taxpayer to sustain the Charlotte empire. They're taking us over with our own money.

Meanwhile, Gov. Perdue just appointed career bureaucrat Dempsey Benton to oversee the new federal "stimulus" money coming into the state. [This after Benton's dismal failure as Director of Health and Human Services during which, among other things, the state's mental health system was revealed to be a giant scandal.]

The State of North Carolina gets $6 billion (not the $25 billion that Bank of America gets, showing us exactly where we fit in the pecking order) to "rebuild the state’s infrastructure, including highways and schools." Again, North Carolinians are coughing up tax dollars to the federal government, which it uses in return to take ownership of our critical infrastructure. Evidence of this is that one of Benton's assignments will be to "establish lines of communication with federal and state agencies." In other words, he will be working to make our state agencies part of the federal government.

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