News on Government Waste coming from Minnesota
- In case you missed it, you can watch CAGW President Tom Schatz’s appearance on CNBC’s “Squawk Box” this morning online. In the weekly “Pork Watch” segment, Tom and CNBC host Joe Kernen discussed the record $2.3 billion loan the Federal Railroad Administration is considering granting to the Dakota, Minnesota, and Eastern Railroad (DM&E) at the behest of Senator John Thune (R-S.D.), a former lobbyist for DM&E.
As Tom wrote to you last week, this corporate welfare handout is a poor credit risk for taxpayers. DM&E’s current yearly revenue is less than the estimated annual service payment on the loan, and the railroad ranks last in safety among the nation’s 43 largest railroad companies!
If you haven’t already, please take a moment right now to tell your U.S. Representative and Senators to oppose this special-interest giveaway that is so risky it’s being compared to the $1.5 billion Chrysler bailout in 1980!
Tom Schatz can be seen every Wednesday on “Squawk Box” at approximately 7:50 a.m. EST. (Please note all media appearances are subject to change.)
Citizens Against Government Waste is the nation's largest taxpayer watchdog group with over one million members and supporters nationwide. It is a nonpartisan, nonprofit organization dedicated to eliminating waste, fraud, abuse, and mismanagement in government.
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