Obama Doles Out Another $142 Million to “Economically Distressed” Urban Areas

Judicial Watch

In the midst of an epic budget deficit crisis the Obama administration has proudly declared that it’s “making history” for doling out a record $142.3 million for a single program that helps “economically distressed communities across the United States.”

The announcement could not have come at a worse time, as recession-plagued Americans helplessly watch the politicians they elected to represent them sink the country financially with staggering federal deficits and a monstrous $14.3 trillion debt. In the middle of the fiscal disaster, the president continues to redistribute wealth by throwing record amounts of taxpayer dollars at causes that help poor, underserved communities.

This week, for instance, the White House boasted that it issued the single largest round of awards to yet another government welfare program that helps “economically distressed communities across the United States.” Known as Community Development Financial Institutions (CDFI), the Treasury Department program “serves rural and urban low-income communities” that can’t access “affordable financial products and services”…

Announced this week in Chicago, the “historic” $142.3 million allocation will be split among 155 “specialized community-based financial institutions” that will “spur local economic growth” and, as a result, “touch both rural and urban communities”…

A complete list of the “specialized community-based financial institutions” that will share the historic allocation is available from the CDFI, but here are a few examples; the Durham North Carolina-based Minority Support Center and Latino Community Credit Union will each get $1.5 million, the Latino Economic Development Center in Minneapolis will get $100,000 and the National Council on Agricultural Life and Labor Research Fund in Dover, Delaware, will receive $1.5 million.

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Comments

  1. barbiebuns says:

    Just what we need…more money for services that will do absolutely nothing but put money in the pockets of those running the places……..Hello. Anyone remember Acorn, Fannie Mae and her partner, etc., etc., etc.

  2. Betsy K. Larsen says:

    Oh crap. How transparent is that already!? The black community and the latino bunch! Oh for pity’s sake, he is such a butt kisser himself, how can anyone vote for him and hold him in any kind of “respect”? He kisses the butts of only those whose votes he wants! And by the way, where did he get that money? Pull it out of a hat, or what? I thought we are “broke” and can’t afford this stuff, not even pay for the military, the SS or the Medicare, if we are “broke” then where is the money coming from for this, and those sand fleas over there who only want us dead???? He makes more questions than he solves any answers or problems! this ONE has to go away…………into the Hall of Shame, where he belongs! In Kenya, hopefully.

  3. RacerJim says:

    And this POS SOB has the gall to threaten to withold military pay and Social Security checks?

  4. SEAN MURRY says:

    All going to welfare rats.He will be history in 2012.

  5. This right here proves we are not broke. He's using the debt ceiling thing to get re-elected at our expense. Has anyblody stopped and asked "why are they broke"? The people running the place will keep the money in their pocket. This is so in our face. Got to stop!!

  6. The Clown is buying votes with our money. This fool should be placed in Guantanamo along with his Muslim buddies – then lose the key.

    • Edwardkoziol says:

      Jack you are right on target, the clown even gave money to rebuild mosques over in towelhead country.But in this country if he doesn't get his way he'll pout and take his basketball and golf balls and slither back to the white house.

  7. Edwardkoziol says:

    This bird Obummer knows how and who to grease up to get votes.He's good at playing Robin Blackhood rob the working class and give to the lazy.

  8. Why are we letting this S.O.B. give our money to the damn illegals/

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