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It's difficult to visualize a million dollars, much less a million million dollars. But that's the true threshold cracked by the "$825" billion "stimulus" bill, when you include $347 billion in estimated interest costs associated with the incremental borrowing required.
So how big is the resulting $1.2 trillion spending package? Big enough to dwarf any government program in history, even after adjusting for inflation. It's bigger than the New Deal and the Iraq War combined. The interest alone will be costlier than the Louisiana Purchase or going to the moon. The $18 billion in bonuses paid legally by private Wall Street firms in 2008 - decried by the President as "shameful" - is vanishingly small in comparison (smaller even than the bill's incremental food stamps expenditures).
The only relatively modest component of the spending bonanza is the money tagged for infrastructure and energy efficiency (the ostensibly stimulative part), which accounts for less than 14% of the total.
Can we at least all agree that there is nothing stimulative in this massive expanse of government pork, waste and abuse?
Check the last practically identicle thread you started a couple of days ago!
Yes,noticed that.... allot of not necessary items,, such as new GSA vehicles for some gov't facilities....Yes this will surely help the average american get a job or save their home, gov't ppl driving new american automobiles while on the job...and there are many more "goodies" above the top....OMG
It's absolutely disgusting. Obama should be ashamed. What kind of leadership is this?
I agree with this: it's a game.
"Not one person felt his or her district needed to have any of this assistance?" one Connecticut Democrat told the New York Times. "That can't be."
Of course not. Republicans have acknowledged as much. In notes jotted down during a Tuesday meeting with Obama, one GOPer noted: "We expect the vast majority of House Republicans to oppose the package tomorrow, but we are optimistic that after the bill passes the House there may be a real opportunity for a bipartisan package." In other words, we will come around.[*] But at this moment, unanimous opposition was the smartest stance House Republicans could have taken—both politically and ideologically.
Voting against the bill was good politics because it shows that the GOP can't be persuaded by charm alone, presidential or otherwise. Sure, Republicans risk coming off as stubborn in the face of Obama's ostentatious magnanimity. But at this stage, there's nothing wrong with playing hard to get. There will be time for bipartisan necking later.
It's absolutely disgusting. Obama should be ashamed. What kind of leadership is this?
Blame the House (of Representatives). It was their pork.
Obama is out of the picture till it gets passed by both the House & Senate.
He has nothing (at this point) to be ashamed of.
Can we at least all agree that there is nothing stimulative in this massive expanse of government pork, waste and abuse?
So far, i agree with you (except that its the House-Pork Bill at this point)
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