Washington has long since been hallmarked by hypocrisy, and Obama is only beginning to really get in on the action. As Peter Boettke noted two days ago on The Austrian Economists blog,
The Inauguration is expected to be the most expensive one we have ever had – four times more expensive in some estimates. This is all at a time when we are also claiming that the US economy is facing the most severe economic crisis since the Great Depression, and we are engaged in an orgy of public spending.
He goes on to question why Obama’s extravagance in endorsing a celebration of this size (the price is estimated at $160 million) has gone uncriticized, while similar lavishness on the part of the CEOs of the bailed-out auto industry, for example, was met with outrage. Aren’t both displays of a lack of prudence funded by taxpayers?Published in