Saturday, July 14, 2012

Harry Reid and the Burning Yellow ap-Peril.

The US Olympic Team is outfitted in uniforms made in China. This has some people upset. Senate Majority Leader Harry Reid, D-Nev., for example:
I think they should take all the uniforms, put them in a big pile and burn them and start all over again.
House Speaker John Boehner, R-Ohio, said, "You'd think they'd [The US Olympic Committee] know better." It's John and Harry who should know better.

My first thought was to put all the Senators and Congressman in a big pile. But I couldn't figure out if Barney Frank would be on the top or on the bottom, and I quickly stopped thinking about it.

But what's the problem? The president and Congress gave a loan guarantee of $529 million to a foreign competitor of US automobile manufacturers. The president and Congress spent at least a billion and a half taxpayer dollars to create jobs overseas, sending a lot of it to places who don't do much for us at all. The Chinese, at least, have lent about a trillion dollars to the US. And whose fault is that?

In any case, the US Olympic Committee is privately funded, so it isn't even taxpayer dollars Harry wants to burn. It's private funds, like the more than $40,000 Ralph Lauren has donated to Democrats since 2008.

What's Ralph Lauren got to do with it? He is the guy who outsourced the uniform production. Harry should raise his objections with Ralph about this, give back the money, and then get in the pile.

Update 4:16PM. Similar thoughts at Cafe Hayek and RealClearMarkets.

Update 5:01PM Jul 15. More thoughts at FutureOfCapitalism.

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