Oh no, how will they survive?
Better prepare another round of targeted tax cuts.
Exxon Mobil Corp.’s quarterly profit fell 18% from last year, but the oil and gas giant still made nearly $8 billion…
It was Exxon’s second-smallest quarterly profit since mid-2010, beating only this year’s second-quarter earnings of $6.86 billion. Still, the results exceeded expectations.
But in these austere times, where will we find the money to help a poor multinational out?
the food-stamp program is now set to downsize in the weeks ahead. There’s a big automatic cut scheduled for Nov. 1, as a temporary boost from the 2009 stimulus bill expires. That change will trim about $5 billion from federal food-stamp spending over the coming year.
Funny how Exxon/Mobil could pick up the tab on that and still have $3 billion in profit, yet I’m pretty sure we’re going to find a way to give them even more.