Stimulus Won’t Stimulate for Years

by Sal on January 21, 2009

in Economy,Politics

Inauguration festivities over, Congratulations to President Obama, time to get back to policy and regular politics.

Michelle Malkin has a post this morning on the Congressional Budget Office’s analysis of the $825 billion Economic Stimulus Package.  It seems the plan would barely release any of the money this year, and indeed only half of the highway infrastructure spending that is being proposed would even be released in the next four years.  This year, the CBO estimates that only 7% of the money being allocated for fixing roads and bridges and highways will be spent.

Additionally, the programs that the money is being spent on is growing far and wide, and have little or nothing to do with economic stimulus.  Already, money is being allocated for National Public Radio, the National Endowment for the Arts, more coupons to upgrade people to Digital TV, with more useless spending on the way.  Is this the HopeAndChange that Obama Promised?

Democrats are already having second thoughts and arguing amongst themselves.  Blue-Dog Democrat Rep. Heath Shuler (D-NC) is concerned about the bill becoming a “Christmas Tree” for pork, and Sen. Kent Conrad does not think the bill will reduce unemployment by more than 1%.

The HopeAndChange is looking like more of the same.  Not only is the stimulus plan based on debunked Keynesian economics, but now even the government spending promised in the bill is years from being spent.  The bill is nothing more than window dressing that will do nothing for the people of this country, cost the tax payers billions of dollars over many years, and increase the baseline so that future spending will be easier to allocate.

Welcome to Year Zero.

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Republican Stimulus | Axis of Right
January 23, 2009 at 1:33 pm

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