Wednesday, March 04, 2009
The following quote by our Secretary of the Treasury is disconcerting. Note the use of language, the subtle use of the word "subsidize". Are tax breaks "subsidies" in a real economic sense? Why is this news? What is it attempting to convey to the American Public and for whose benefit? Why does the Treasury think unilaterally changing incentives will add to the country's general welfare?
I am becoming more and more cynical of this administration...
"We don't believe it makes sense to significantly subsidize the production and use of sources of energy (like oil and gas) that are dramatically going to add to our climate change (problem). We don't think that's good economic policy and we think changing those incentives is good for the country," Geithner told the Senate Finance Committee at a hearing on the White House's proposed budget for the 2010 spending year.