"Peterson [rich guy] has well over $1 billion in wealth. Let's suppose that he has 10 percent or $100 million in government bonds. This means that he would be getting around $3.5 million in interest checks each year from the government. By comparison, the total payments -- SCHIP, food stamps, EITC -- going to support a poor kid would probably not even sum to $10,000. This means that the taxpayers are giving Peter Peterson $350 for every dollar that we give to poor kids. Isn't that an outrage?"
Dean Baker is absolutely right, by the way. So, who has convinced politicians to go into debt to rich people?
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