The Obama administration still plans to spend tens of billions of dollars reviving the nation's financial system, even after the government's unexpected finding that major banks need only a little bit more direct government aid.Actually, with the goverment "flush" with cash, perhaps now might be a time to send out tax rebates, which at least puts money in the hands of workers themselves, rather that strengthen the Democratic Party's big-spending agenda.
The initiatives being crafted include helping municipalities borrow money, providing insurers with new capital and after a long delay buying troubled assets from financial firms. Senior officials see signs that the recession may be bottoming out, but they say they continue to think big actions are necessary to spark an economic revival.
Officials overseeing the federal bailout suddenly find themselves flush with cash, just months after saying they might run out. Rather than needing to spend what remains in the bailout to shore up weak banks, some government officials say they now expect the healthy ones to return well more than $35 billion. That would give the Treasury Department at least $145 billion for other initiatives.
But nope, as Fox News reports, "Obama to Propose More Taxes From Estates, Firms to Fund Health Care Reform" (via Memeorandum).
God, give us a few drunken sailors any day over this mess!
See also, Gateway Pundit, "Late to the Party-- Some Rich Obama Supporters Realize He's a Class Warrior."