Stimulus plan my ass:<\/p>\n
In selling the plan, President Obama has said this bill will make “dramatic investments to revive our flagging economy.” Well, you be the judge. Some $30 billion, or less than 5% of the spending in the bill, is for fixing bridges or other highway projects. There’s another $40 billion for broadband and electric grid development, airports and clean water projects that are arguably worthwhile priorities.<\/p>\n
Add the roughly $20 billion for business tax cuts, and by our estimate only $90 billion out of $825 billion, or about 12 cents of every $1, is for something that can plausibly be considered a growth stimulus. And even many of these projects aren’t likely to help the economy immediately. As Peter Orszag, the President’s new budget director, told Congress a year ago, “even those [public works] that are ‘on the shelf’ generally cannot be undertaken quickly enough to provide timely stimulus to the economy.”<\/p>\n
Most of the rest of this project spending will go to such things as renewable energy funding ($8 billion) or mass transit ($6 billion) that have a low or negative return on investment. Most urban transit systems are so badly managed that their fares cover less than half of their costs. However, the people who operate these systems belong to public-employee unions that are campaign contributors to . . . guess which party?<\/p><\/blockquote>\n
If President Obama or the Democrats in Congress were really interested in getting the economy moving again they being about commonsense measures to free up capital. No amount of government spending is going to the that… Drastically reducing or suspending capital gains taxes for couple of years and cutting the corporate tax rate would have a far more dramatic and immediate effect than the Democrats so called stimulus bill.<\/p>\n
We can’t spend are way out of a recession no amount of government bailouts or stimulus packages are going to change that, in fact they may make things worse.<\/p>\n","protected":false},"excerpt":{"rendered":"
Stimulus plan my ass: In selling the plan, President Obama has said this bill will make “dramatic investments to revive our flagging economy.” Well, you be the judge. Some $30 billion, or less than 5% of the spending in the bill, is for fixing bridges or other highway projects. There’s another $40 billion for broadband […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[26,7],"tags":[57,59,168],"class_list":{"0":"post-1406","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-economy","7":"category-politics","8":"tag-barack-obama","9":"tag-democrats","10":"tag-stimulus","11":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pfpI7-mG","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":498,"url":"https:\/\/www.jasetaro.com\/blog\/2008\/09\/26\/crash-burn-harry-reid%e2%80%99s-56-billion-stimulusoil-shale-ban-bill-augers-in\/","url_meta":{"origin":1406,"position":0},"title":"Crash & Burn: Harry Reid\u2019s $56 Billion Stimulus\/Oil Shale Ban Bill Augers In.","author":"Jeff","date":"September 26, 2008","format":false,"excerpt":"Reuters is reporting that Harry Reid's $56.2 Billion economic stimulus\/oil shale ban bill has failed in the Senate: WASHINGTON (Reuters) - The Senate on Friday blocked a $56.2 billion economic stimulus package that would have extended unemployment benefits, increased food aid and funded new construction projects to create jobs. The\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2481,"url":"https:\/\/www.jasetaro.com\/blog\/2009\/07\/07\/will-obama-push-for-a-weaker-dollar\/","url_meta":{"origin":1406,"position":1},"title":"Will Obama Push for a Weaker Dollar?","author":"Jeff","date":"July 7, 2009","format":false,"excerpt":"Ugh, this is not good... former Clinton trade official and current member of the Obama administration's economic advisory panel Laura Tyson said in Singapore today that the $787-billion plan Congress passed in February \"will have a positive effect, but the real economy is a sicker patient.\" She went on to\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1419,"url":"https:\/\/www.jasetaro.com\/blog\/2009\/01\/29\/smoot-hawley-rides-again\/","url_meta":{"origin":1406,"position":2},"title":"Smoot-Hawley Rides Again???","author":"Jeff","date":"January 29, 2009","format":false,"excerpt":"The Washington Post has a detailed report on protectionist language in the Democrat's pork laden stimulus bill that could trigger a trade war: The stimulus bill passed by the House last night contains a controversial provision that would mostly bar foreign steel and iron from the infrastructure projects laid out\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1457,"url":"https:\/\/www.jasetaro.com\/blog\/2009\/02\/05\/tom-coburn-the-stimulus-package-is-more-debt-we-dont-need\/","url_meta":{"origin":1406,"position":3},"title":"Tom Coburn: The Stimulus Package Is More Debt We Don’t Need","author":"Jeff","date":"February 5, 2009","format":false,"excerpt":"I wanted to mention Sen. Tom Coburn's Op Ed in the Wall Street Journal yesterday, but I didn't get chance. Coburn gets right to the heart of the matter this pork stuffed crap sandwich \"will not only fail to stimulate the economy, but could seriously delay economic recovery.\" As the\u2026","rel":"","context":"In "Politics"","block_context":{"text":"Politics","link":"https:\/\/www.jasetaro.com\/blog\/category\/politics\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1466,"url":"https:\/\/www.jasetaro.com\/blog\/2009\/02\/10\/porkulus-passes-61-37\/","url_meta":{"origin":1406,"position":4},"title":"Porkulus Passes 61-37","author":"Jeff","date":"February 10, 2009","format":false,"excerpt":"The senate voted 61-37 in favor of the $838 billion pork stuffed stimulus package. Erstwhile republicans Arlen Specter, Olympia Snowe and Susan Collins joined democrats in supporting the bill. Judd Gregg abstained. God Save us from bipartisanship!","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1536,"url":"https:\/\/www.jasetaro.com\/blog\/2009\/02\/18\/healthcare-provisions-of-stimulus-law-not-well-understood\/","url_meta":{"origin":1406,"position":5},"title":"Healthcare Provisions of Stimulus Law Not Well Understood","author":"Jeff","date":"February 18, 2009","format":false,"excerpt":"CNSNews.com has two must read pieces on the stimulus laws healthcare provisions... The first deals with the plans National Medical Records System provisions: Stimulus Law Does Not Require All Americans to Enter Their Medical Records into National System, Dems Say By Josiah Ryan, Staff Writer, CNSNews.com, Tuesday, February 17, 2009\u2026","rel":"","context":"In "Health Care"","block_context":{"text":"Health Care","link":"https:\/\/www.jasetaro.com\/blog\/category\/health-care\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts\/1406","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/comments?post=1406"}],"version-history":[{"count":0,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts\/1406\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/media?parent=1406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/categories?post=1406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/tags?post=1406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}