Crunch Time: Stimulus 101
Written by Audrie Zettick on February 9, 2009
No matter where you stand on the economic stimulus package, check out this graphic in the Washington Post. Highlights of these numbers pulled from the Congressional Budget Office package on the House-approved version:
- The Democrats claim one-third of the bill is tax cuts. CBO says 22% is tax cuts.
- About 64% of the $819 billion House-approved bill would get into the economy in 19 months, well short of the 75% Obama wants. That’s $294 BILLION that’s clearly not “we-don’t-have-a-moment-to-spare” ideology.
Doubling our national debt is my biggest worry now. See what these economists say about the stim package.
Think for yourself (be a Brain-Jockey). If you can, explain to me why all this “stuff” is in a package designed to be a quick fix to the economy AND why nearly doubling our national debt isn’t going to be harmful to our future. How are we going to fund things we REALLY need and what are we going to do when private investment dries up due to excessive debt?
I reserve the right to deploy my Nerf© bat, should I disagree with any pro-stimulus argument made here.
Posted in: economy
One Response to “Crunch Time: Stimulus 101”
The biggest criticism about the stimulus bill is that it does not seem poised to be able to answer the problems that we are currently facing economically as a nation and that there is significant risk with the debt the government is thinking about backing: http://www.weeklypoint.com/2009/02/09/the-stimulus-plans-big-risk/
The question is then what is really going? Is this nothing more than an opportunity for the Democrats to get some pet projects funded?
What will the voters think of this abuse of power?
By Dan D. on Feb 9, 2009