Mudcat Café message #3507975 The Mudcat Café TM
Thread #150244   Message #3507975
Posted By: Songwronger
23-Apr-13 - 07:18 PM
Thread Name: BS: Obama Hate Thread...
Subject: RE: BS: Obama's Budget
I see that a thread addressing Obama's handling of the TVA (Tennessee Valley Authority) was closed. The TVA is the huge hydroelectric system which provides electricity to the southeastern U.S. It was initiated by Franklin Roosevelt and took years to complete. Now Obama wants to privatize it.

"Reform TVA. Since its creation in the 1930s during the Great Depression, the federally owned and operated Tennessee Valley Authority (TVA) has been producing low-cost electricity and managing natural resources for a large portion of the Southeastern United States. TVA's power service territory includes most of Tennessee and parts of Alabama, Georgia, kentucky, Mississippi, North Carolina, and Virginia, covering 80,000 square miles and serving more than nine million people. TVA is a self-financing Government corporation, funding operations through electricity sales and bond financing. In order to meet its future capacity needs, fulfill its environmental responsibilities, and modernize its aging generation system, TVA's current capital investment plan includes more than $25 billion of expenditures over the next 10 years. However, TVA's anticipated capital needs are likely to quickly exceed the agency's $30 billion statutory cap on indebtedness. Reducing or eliminating the Federal Government's role in programs such as TVA, which have achieved their original objectives and no longer require Federal participation, can help put the Nation on a sustainable fiscal path. Given TVA's debt constraints and the impact to the Federal deficit of its increasing capital expenditures, the Administration intends to undertake a strategic review of options for addressing TVA's financial situation, including the possible divestiture of TVA, in part or as a whole."

http://www.whitehouse.gov/sites/default/files/omb/budget/fy2014/assets/budget.pdf

So, Obama wants to privatize the TVA. And note how the TVA is not the only targeted program here. Obama says, "Reducing or eliminating the Federal Government's role in programs such as TVA, which have achieved their original objectives and no longer require Federal participation, can help put the Nation on a sustainable fiscal path."

This opens the door to privatize everything that was built with federal money. Stone cold fascism.