In 1986 Congress created the Oil Spill Liability Trust Fund for events exactly like the Deepwater Horizon and the Exxon Valdez oil spills. Since that law's enactment, we have been paying into that fund with each gallon of gasoline, kerosene, Diesel oil and home heating oil we purchase.
Why wasn't that fund tapped on "Day One" of this spill? Where is it?
According to that law, there is $1,000,000,000,000.00 (Billion) Dollars
immediately available per spill event.
With that amount of money, why wasn't everything necessary contain and remediate such an entirely predictable event perpetually on station?
Why were containment booms left sitting in a warehouse in Maine?
Why wasn't the protectionist Jones Act waived as GWB had done immediately following Hurricane Katrina?
Why was foreign aid from countries like Saudi Arabia, Denmark, The Netherlands who have had experience with spills of this magnitude, declined?
That answer came during Obama's, slightly revised "
Malaise Speech"; another "Clean Up Trust" to be funded by British Petroleum to the lawless detriment of its shareholders. (Just another example of Frederic Bastiat's
Broken Glass Theory?)
We are not witnessing a noble event on the part of President Obama but the total collapse of Federalism. It is the complete dissolution of the principle of "
Three Separate but Equal Branches", gone.
POOF!
The firewall between Legislative Branch and the Executive Branch was dissolved with President George W. Bush's signature on the three page long TARP Bill. This Bill created Obama's stash. (Didn't you wonder why Pelosi, Frank & the Democrats were smiling like Cheshire cats?) That was the first leg of the Federalist's stool lost.
POOF!
The second leg was actually stolen by Obama during the government take over of GM & Chrysler by Obama and the unions. Why weren't the normal bankruptcy laws and procedures followed? Again, there was barely an objecting whimper.
POOF! (Again.)
The Obama Presidency has now successfully co-opted all three branches of our government.
So there you have it, a "Two-fer" for the Left. They have collapsed Federalism and they have another "Twenty Billion (plus) Dollar Trust Fund" to rob, just as they have done with the Social Security Trust Fund, Big Tobacco Trust Fund, Medicare and Medicaid Trust Funds. They have all been lost to the General Fund and
pissed away.
It is an estimated $120-130,000,000,000,000.00 (TRILLION) theft.
Where is the outrage? That only seems to be coming from the Left and they are apparently too ignorant to understand what Obama has accomplished for them.
What are the rest of us going to do about it?
Welcome to the F.S.A. - The
Fascist's State of America--without a shot being fired.
Hamilton Federalist #9:
Oil Spill Liability Trust Fund:
Obama Speech text:
Bastiat:
Mussolini on Fascism:
