Government Stimulus Package
It’s been around a year since this was originally published so I thought I’d go back and tell a little of what has happened. Unless you have been hiding under a rock, you know that our Congress eventually passed this bill and President Obama signed it into law. You may have heard Obama talking since then about how this was necessary and that it saved or created 1.5 million jobs. That sounds great on TV when he’s giving the State of the Union address, but in reality it is a pathetic waste of our taxpayer dollars.
When it was passed they said it would keep unemployment from rising beyond 8%. It is at 10% now. Doing a little math shows you how much they wasted. The cost to the taxpayer was around 862 Billion dollars. That is 862,000,000,000. That is a lot of zeroes. The jobs, not just new jobs but also “saved” jobs, were 1.5 Million by the White House’s own accounting. That means that we spent an average of about 575,000 dollars per job. Mind you most of these jobs are construction or maybe teaching jobs making around 30K a year. This is simply a great example of government waste and not much more.
The real problem is that in Obama’s recently released budget there is 300 Billion more dollars modeled on last years stimulus package. For those that don’t know, the definition of insanity is repeating the same behavior expecting different results. I don’t think they are insane though (usually), I just think they are happy with a government stimulus package. They are happy spending more and more of your money because that means power. If they can make you believe that you need them to help, they have accomplished their goal. Just to make it clear, you don’t need the government stimulus package to help you find a job.
Congress currently has a “stimulus package” in the works. Unfortunately the only thing it is really going to stimulate growth in is government. There is so much pork in this bill, the Wall Street Journal said this about it, “This is a political wonder that manages to spend money on just about every pent-up Democratic proposal of the last 40 years.” Suffice it to say there is more money in “pet projects” than there is in any sort of economic stimulus. That is why every single Republican representative voted against the stimulus bill. This is apparently the change we can believe in.
Here are some of the, shall we say, not very stimulating proposals in the government stimulus package:
$1 billion to Amtrak who hasn’t made a profit in 4 decades
$2 billion in child-care subsidies
$50 million for the National Endowment for the Arts
$400 million for global-warming research
$2.4 billion for carbon-capture demonstration projects
$650 million to pay for digital TV conversion coupons
$600 million for the federal government to buy new cars. Their current budget already includes $3 billion a year on its fleet of 600,000 vehicles
$252 billion is for income-transfer payments - i.e. Medicare, unemployment, and food stamps
$66 billion for education
As the WSJ put it:
This is supposed to be a new era of bipartisanship, but this bill was written based on the wish list of every living — or dead — Democratic interest group. As Speaker Nancy Pelosi put it, “We won the election. We wrote the bill.” So they did. Republicans should let them take all of the credit.
Thankfully it looks like the Republicans are going to give this joke of a government stimulus package to the Democrats. All but 11 of them voted for this bill. At least a few were smart enough to see this for what it is, a waste of money sending America even further into debt.
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