I was stunned when Kentucky's Lt. Governor Jenean Hampton told the Eastern Kentucky University Progress (a paper that I wrote for from 1978 to 1980) that, "I would be looking for degrees that would land a job. I would not be studying history."
Five hundred million dollars seems like a lot, until one realizes that it's only a small part of an approximately $3.6 trillion dollar budget. It is certainly a testimonial to the endurance of earmarks.
Every bailout plan reminds me of an economic re-run of the Iraq war: There is a lot of panic. A hastily written plan sweeps through Congress without scrutiny. The plan is expected to "shock and awe" us.