Governor Jennifer Granholm ebulliently introduced Vice President Joe Biden today at NextEnergy in Detroit, during a dog and pony show arranged to announce the awarding of more than $1B in grants from federal stimulus funds that will go to Michigan-based manufacturers for investment in hybrid vehicle battery production [link].

Granholm introduced Biden by shouting, "He's personally a friend of me [[sic). I love this guy! The man with the cash....."

Vice President Biden responded with, "Would the governor love me if I had no money?"

Lost in all the jocularity was the fact that Biden has no cash or money to fund these grants. The money being used to fund these grants comes from the US Treasury and if it is to be attributed as coming from anyone, it should be rightly acknowledged that it is the US taxpayer's money which is being redistributed to Michigan businesses. Of course, it's actually the massive government borrowing that is making the funds available and it is the US taxpayer and their descendants who are on the hook for paying the interest and eventually repaying the principle. But it must be so much fun and quite an ego trip to be able to shamelessly stand in front of the cameras and fawning press and pretend otherwise.