From the Wall Street Journal:
According to Congressional Budget Office estimates, a mere $26 billion of the House stimulus bill's $355 billion in new spending would actually be spent in the current fiscal year, and just $110 billion would be spent by the end of 2010. This is highly embarrassing given that Congress's justification for passing this bill so urgently is to help the economy right now, if not sooner.
Phew! And I thought the stimulus package would be misguided and inefficient!
Don’t I feel foolish!
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4 comments:
You do understand that debt spending has gotten us out of every recession/depression since the 30's, right?
You cons sure loved to tout how awesome the Reagan and Bush Jr economies were, yet they were both accomplished through debt spending.
You need a new hobby. Economics and politics aren't your strong suit.
I don't think he's arguing the topic of debt spending. He's arguing that "stimulus packages" don't work. People save the money or pay off credit cards with it.
I didn't work when Bush did it last time, why would it be any different now?
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