Monday, January 16, 2012
Closing Commerce is Getting it Backwards
American Obama's plan to eliminate the Commerce Dept is just another deceptive political ploy to make it look like he is cutting spending. Analysis shows he does want to close Commerce to save $3 billion over 10 years. In its place he wants to open a new export agency and does not mention its cost. He wants to put the U.S. Export-Import Bank, Overseas Private Investment Corp, the Trade and Development Agency, the Small Business Administration and parts of the Commerce Department under a new roof. Maybe it would be even cheaper to move those other agencies into Commerce instead. Starting a new bureaucracy is more expensive than altering an old one. So while saving $3 billion over ten years (that's $30 million a year) he will be spending over $100 Million this year to create a new agency. That is no way to cut spending.