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There are more millionaires being created in Washington than by Apple. Even more fascinating is the speed at which the millionaires are being created. It takes just two years to become an Obama millionaire.
Apple millionaires put their money on the line and take huge risks as Apple’s shares gyrate with the market. Contrast that with Obama millionaires that are simply getting rich, super rich, on the tax dollars of hard-working Americans.
CNBC reports that military construction in 2005 totaled $5.3 billion, the peak of the Bush years. Under Obama, in 2010 it was $23.7 billion. Likewise, procurement went from $82 billion to $147 billion. Go figure.
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wow!
Comment by SVAA — August 18, 2011 @ 10:49 AM
It is my understanding that Obama has 38 appointed czars, 32 of which have not been confirmed firmed by congress. I wonder if any of these czars are millionaires.
Comment by James — August 18, 2011 @ 11:12 AM
Those who are unconfirmed are not working for the government and not collecting salaries, so if any of them are millionaires, they had their money before being appointed.
Comment by GringoViejo — August 18, 2011 @ 11:58 AM
Is there any such thing as an Obama millionaire? If so, it's not supported in this article or in the Washington Post story, nor is the notion that "it takes two years" to become one.
It *is* shocking to see how much money is being wasted on military construction and procurement. No doubt there are plenty of what used to be known as war profiteers getting wealthy at taxpayer expense. Even there, however, it would be useful to see figures for, let's say, 2008 as well as 2005 and 2010, and it would be lovely to see some names, party affiliations, political donations, etc. Dollars to donuts there are few liberal Democrats among them.
Comment by GringoViejo — August 18, 2011 @ 12:13 PM
The "Apple millionaires" to which you refer bet their money in the stock market. They aren't investing it in innovation or job creation. They aren't stimulating the economy. They are buying and selling lotto tickets.
Comment by random observer — August 18, 2011 @ 12:32 PM
Maybe they are buying lotto tickets, but they are using their money and not tax payer money to create inefficiencies that benefit them.
Comment by Gordon — August 18, 2011 @ 12:36 PM
I wonder if all of this construction/procurement has been going on for the last decade, but like everything else Bush spent on, never bothered to include it on his budgets.
Comment by All Amer Guy — August 18, 2011 @ 4:19 PM
Very interesting topic , appreciate it for posting . “Stranger in a strange country.” by Sophocles.
Comment by hosting — August 30, 2011 @ 10:16 AM