Trump Is Selling a Privatization Scam, and Calling It an Infrastructure Plan (AlterNet)
Scorning serious proposals, the White House offers a Trump University plan for employment.
By Jefferson Morley / AlterNet
June 5, 2017, 3:45 PM GMT
President Trumps original proposal for a $1 trillion infrastructure jobs plan was, in principle, a worthy idea, a practical way to create jobs and improve the countrys highways, bridges, railways, and airports. In reality, Trumps jobs agenda is a sham that does not involve a trillion dollars, won't do much for the country's infrastructure and wont create many jobs.
That became obvious Monday during the first installment of what the Trump White House billed as infrastructure week: a televised event designed to look like a signing ceremony. Before the cameras, the president made only a very modest proposal calling on Congress to split air traffic control away from the Federal Aviation Administration and place it under a private, non-governmental entity. Trump made a show of signing two documents as if they were legislative bills or executive orders. In fact, they were merely statements of legislative principles, according to the White House.
Trump's still-vague proposal bears all the marks of a large-scale bait and switch sales pitch like the one Trump perfected in sellling fraudulent enterprises like the now-defunct Trump University to unsuspecting consumers.
The Bait
The bait was the trillion-dollar figure, which suggested Trump would launch a massive effort that could have real stimulating effect on a $13 trillion-a-year economy. The switch is found in a fact sheet distributed by the White House. Trumps 2018 budget involved the expenditure of no more than $200 billion toward the goal of infrastructure jobs.
The bait was that Trumps plan would be new. The switch is that his privatization proposal recycles an old idea, opposed by Democrats and Republicans alike.
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more: http://www.alternet.org/news-amp-politics/trump-selling-privatization-scam-and-calling-it-infrastructure-plan
Not too long an article, but informative on the details.
Wellstone ruled
(34,661 posts)they went down this road and guess what,they ended up bailing it out of Bankruptcy.
muriel_volestrangler
(101,322 posts)through the private sector. More profits for the banks and construction companies, and bond-holders in them, at the taxpayers' expense, who will get far larger repayment bills in future decades than if the government borrows the money directly (which would be at a lower rate, and without the middle men). So why do governments do it? Because the borrowing doesn't appear on the government books, so they can claim in elections that they've kept government debt down.
British governments, both Labour and Tory, have done this, and in the long term, it impoverishes a country. But they get bogus figures they can use in elections.