So the president is going to spend billions rebuilding New Orleans. He didn’t say where the money is coming from. We still have a massive deficit, and are spending billions in Iraq. Does Bush just plan to borrow more money? He didn’t say anything about taxes. Will he continue to push for additional tax cuts or will he admit that we have to cancel some of the cuts to help pay for the rebuilding.
He made a pitch for home ownership, wanting more families to own rather than rent their houses. But to own your home you have to have a good job. However, Bush has suspended application of the Davis-Bacon Act, a federal law that would require government contractors to pay prevailing pay. The suspension will allow contractors to take advantage of the high unemployment and pay low wages, even for work on no-bid contracts. The contractors can save on wages and not pass the savings to the government.