Three contractors are bidding to
fix a broken fence at the White House.
One is from Chicago, another is
from Tennessee, and the third is from Minnesota.
All three go with a White House
official to examine the fence.
The Minnesota contractor takes out
a tape measure and does some measuring, then works some figures with a
pencil.
"Well," he says, "I
figure the job will run about $900: $400 for materials, $400 for my crew and
$100 profit for me."
The Tennessee contractor also does
some measuring and figuring, then says, "I can do this job for $700:
$300 for materials, $300 for my crew and $100 profit for me."
The Chicago contractor doesn't
measure or figure, but leans over to the White House official and whispers, "$2,700."
The official, incredulous, says, "You
didn't even measure like the other guys! How did you come up with such a high
figure?"
The Chicago contractor whispers
back, "$1000 for me, $1000 for you, and we hire the guy from Tennessee
to fix the fence."
"Done!" replies the
government official.
And that, my friends, is how the
new stimulus plan works!
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Wednesday, September 28, 2011
Bidding to fix a broken fence at the White House
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