Do any of you really think that this so called stimulus package will do the American economy any good? I hope you realize that whatever these knuckleheads in Congress do isn’t going to touch the economy until at the earliest, 2011.
Also, the 7%, or so that does hit the economy right away, is all BS spending that isn’t going to help anything. Peter Ferrara discusses it in more detail.
By Peter Ferrara
Barack Obama and Congressional Democrats are playing the voters for fools with the so-called stimulus package. The massive $825 billion package is not even targeted on programs to stimulate the economy. Instead, it is laced with runaway government spending for increased welfare, overgrown bureaucracy, pork, political payoffs, and other waste. That runaway spending is causing record smashing deficits of $1.5 trillion or more, equivalent to over 50% of the entire federal budget for fiscal 2008.
For example, the “stimulus” package includes $50 million for the National Endowment of the Arts to help “the arts community throughout the United States.” Wouldn’t want our economy to get behind in the international arts competition. The government is going to borrow $50 million out of the private economy to spend on this, which will result in a net loss of economic output rather than a net gain.
Related:
By Matthew Vadum
With a new president ensconced in the White House, it’s time to roll out the goodies for loyal supporters in left-of-center political advocacy groups such as ACORN.
The latest economic stimulus bill promises to do just that by providing a huge bailout –up to $5.2 billion in taxpayer funds — for some of the same liberal groups that helped get Barack Obama elected.
The three relevant fiscal provisions are buried deep in the $825 billion monstrosity known as the proposed “American Recovery and Reinvestment Act of 2009.”
Truth, Lies and In Between 