Spendapalosa '09 keeps on rolling. It's hard to imagine a dumber group of people that the the idiots we have running our country. No one but ourselves to blame though.
Source: QUICK FACTS ON THE DEMOCRAT STIMULUS PROPOSAL
"A government big enough to give you everything you want, is big enough to take away everything you have." - Thomas Jefferson
Total Cost of Stimulus Legislation: $825 billion
How does this compare?
- In 1993, the unemployment was virtually the same as the rate today (around 7%). Yet, President Clinton’s proposed stimulus legislation *only* contained $16 billion in spending
- The total cost of this one piece of legislation is almost as much as the annual discretionary budget for the entire federal government.
- This
legislation nears a trillion dollars. President Reagan said the best
way to understand a trillion dollars is to imagine a crisp, new stack of $1000 bills. If you had a stack four inches high, you’d be a millionaire. A trillion-dollar stack of $1000 bills would measure just over 63 miles high.
-
In $20 bills, a trillion dollar stack would be 3150 miles high. That’s
about the distance between DC and Trujillo, Peru.
President-elect
Obama has said that his proposed stimulus legislation will create or
save 3 million jobs. This means that this legislation will spend about
$275,000 per job. The average household income in the U.S. is $42,000 a
year.
This bill provides enough spending to give every man, woman, and child in America $2,700.
This bill will cost each and every household $6,700 in additional debt, paid for by our children and grandchildren.
Although this
legislation has been billed and described as a transportation and
infrastructure investment package, but only three percent ($30 billion)
of this package is for road and highway spending.
Much of
the funding within the proposed stimulus package will go to programs
which already have large, unexpended balances. For example, the draft
bill provides $1 billion for Community Development Block Grants (CDBG),
which already has $16 billion on hand. And, this year, Congress has
plans to rescind $9 billion in highway funding that the states have not
yet used.
Deficit spending
will not expand the economy. If that were true, then the current $1.2
trillion deficit -- the largest in history -- would already be rescuing
the economy. $800 billion more will not change that.
Trade groups
state that every $1 billion in highway “stimulus” can be spent creating
34,779 new construction jobs. But Congress must first borrow that $1
billion out of the private sector. The private sector then loses or
forgoes roughly the same number of jobs.
Japan
responded to a 1990 recession by passing 10 “stimulus” bills over 8
years (building the largest national debt in the industrialized world).
Their economy remained stagnant and their per capita income went from
the second highest in the world to the tenth highest.
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