Here is how the Chicago Tribune repeats White House PR about this bogus program to buy influence with Federal funds:
Obama will officially announce the Chicago hub Tuesday at the White House. The initiative follows Obama’s new playbook for dealing with an oppositional Congress unlikely to enact any part of his economic vision.
The announcement also delivers on the president’s pledge in his 2013 State of the Union address to set up three new manufacturing institutes from existing government programs. The administration launched the competition last spring.
Yes, three new “manufacturing institutes.” Three new Solyndras. If there was an opportunity to make a profit with improved manufacturing in Chicago, how likely is it that no entrepreneur would have any interest in sinking their own money into the project? In the meantime, there are opportunities (though not as many as there should be) to invest and make money. But every time the government takes money out of the economy, or drags it down with more debt, that means there is less money for private investment.
The President’s “economic vision” does not involve real productivity that would add wealth to society. He only sees ways to implement new forms of corporate welfare. More crony “capitalism.”
The President is making good on his promise to funnel federal funds into the neighborhoods of liberal mayors.
In addition to Chicago’s Digital Manufacturing and Design Innovation Institute, Obama will announce that Detroit has won an institute focused on lightweight and modern metals manufacturing. The administration set up a pilot site in Youngstown, Ohio, in 2012, focused on 3-D printing, and a few weeks ago it announced a new institute in Raleigh, N.C., targeting energy-efficient electronics.
If you think North Carolina is too “red state” to confirm the obvious truth that this is all public financing for the Democrat Party, note that the mayor of Raleigh, Nancy McFarlane, endorsed Obama for 2012.
Of course, in addition to Federal funds, Obama’s handlers have arranged a network of “private” companies to help.
The $70 million grant will come from the Defense Department. But far more was at stake, as city officials and business leaders quietly raised private commitments in excess of $5 million each from General Electric, Rolls-Royce, Procter & Gamble, Siemens, Lockheed Martin and Dow Chemical Co., according to World Business Chicago.
Lockheed Martin? Do you think they might be hoping for a federal contract or two from the defense Department? In fact all of those companies are lobbying the government for business or other needs all the time.
The institute also will receive $16 million in state funds, according to Gov. Pat Quinn.
Translation: money taxed from conservatives across Illinois will be used to enhance Democratic power in the Chicago area.
That is also the whole point at the Federal level. Red State America is expropriated to fund Blue State growth.
Could we have stopped or slowed this? Sure. If we had demanded a real budget instead of the borrow-and-spend monstrosity that Ryan cooked up. But Republicans empowered Obama with a fat wallet of “walking around” money to use to buy influence for 2014, 2016 and beyond.
Democrat mayors and governors will point to these “initiatives” as if they were the triumph of their “economic policy.” But the only policy they have is 1) support Liberal President, and 2) get lots of Federal money to spend in the region from Liberal President.
There is no real production here. Just plunder.