More Dissension Over Stimulus

by Sal on January 28, 2009

in Economy,Politics

The case against the stimulus keeps growing and growing.  Dan Mitchell (who created the popular YouTube video debunking Keynesian economics) of the Cato institute has recently produced a YouTube video on the effects of the Obama Stimulus Package, and how it is a disaster in the making (H/T:  Up North Mommy).

Gary Gross at California Conservative has a post highlighting some of the recent dissent over the stimulus.  He points to last night’s Fox News All Stars panel with Charles Krauthammer, who sums up the bill quite nicely:

Look, this is one of the worst bills in galactic history. It’s not only on the timing of it–as we saw from the Congressional Budget Office, more than half of the infrastructure stuff with the bridges and roads will not be spent until two years hence when the recession will be likely over or coming out of it, and it will only add to inflation, not jobs.

And it’s the content of this. We heard earlier in Major’s report, a third of a billion for contraception, a billion to states to help them collect child support, nursing training–all this is worthy, but it ain’t stimulus.

If you look at what was left behind after last year’s stimulus, $160 billion, it didn’t have any effect on the economy. It left nothing behind.

This bill has a fifth of a billion for grass at the Jefferson Memorial. FDR left behind the Hoover dam and Eisenhower left behind the interstate highway system. We will leave behind, after spending $1 trillion, a dog run in East Potomac Park.

With the growing dissension on this current stimulus bill (which was largely written by the House of Representatives) upon passage this will become the Obama-Reid-Pelosi stimulus.  When it doesn’t work, there will only be one party to blame.

{ 1 comment… read it below or add one }

elementaryfinance January 28, 2009 at 1:33 pm

I have been watching certain financial networks all day today and writing pieces on my website about the stimulus. One thing that comes to mind is that Washington is constantly talking about how things need to change. Education needs to change, tax law needs to change, lobbyists need to change. If we’re all about change, why is Washington still running the same way. Partisan this and that. Kids do what their parents do and not what they say. If Washington wants change, then Washington needs to do it first. How about coming together on something and not voting down party lines on everything.


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