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Old 02-09-2009, 06:47 AM
 
Location: Tennessee/Michigan
28,192 posts, read 47,507,934 times
Reputation: 19697

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The Obama administration's economic stimulus plan could end up wasting billions of dollars by attempting to spend money faster than an overburdened government acquisition system can manage and oversee it, according to documents and interviews with contracting specialists.

If Spending Is Swift, Oversight May Suffer - washingtonpost.com
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Old 02-09-2009, 07:07 AM
 
216 posts, read 509,023 times
Reputation: 47
Quote:
Originally Posted by John1960 View Post
The Obama administration's economic stimulus plan could end up wasting billions of dollars by attempting to spend money faster than an overburdened government acquisition system can manage and oversee it, according to documents and interviews with contracting specialists.

If Spending Is Swift, Oversight May Suffer - washingtonpost.com


That is an understatement....this entire bill is wasted money. They are doing nothing to actually stimulate the economy and everything to pay back their political allies.

300,000 jobs to illegals????? Are you freaking kidding me??? But, they do generally vote Democrat, they are just building their voter base.

Want to stimulate the economy? 6 month tax holiday for all "tax paying" Americans, reduce business tax to 15%, eliminate capital gains tax.

6 month tax holiday puts more money in the consumers hands to spend.
15% business tax reduction stimulates business growth and will bring more businesses/jobs back to the US

Elimination of capital gains tax will bring investors back to the market.

Government needs to GET THEIR HANDS OFF our kid's money...because that is who will carry the burden of this horrible spendulus.
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Old 02-09-2009, 07:19 AM
 
5,210 posts, read 9,098,772 times
Reputation: 5879
Congress and the Prez want to push this thing through as fast as possible because they don't want to give the American people time to read it. Because it is scary stuff:

Lobstercams, yet another Florida theme park, studies on the horse shoe crab...
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Old 02-09-2009, 07:37 AM
 
216 posts, read 509,023 times
Reputation: 47
Go to www.nostimulus.com to sign the petition! This petition has serious support..... thousands of new signatures a day. Said that petition would go to Sen Demint.

They had a report just a few minutes ago on Fox News. May want to wait a while before trying to access the site!
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Old 02-09-2009, 07:39 AM
miu
 
Location: MA/NH
17,098 posts, read 34,524,599 times
Reputation: 16140
No surprise to me. I had a very bad feeling about the stimulus bill. I don't understand why the rush to get it signed. What was wrong with waiting another week or two to work on the details? It's too big and ambitious.
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Old 02-09-2009, 07:45 AM
 
419 posts, read 538,483 times
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Quote:
Originally Posted by madisonmamma View Post
Go to www.nostimulus.com to sign the petition! This petition has serious support..... thousands of new signatures a day. Said that petition would go to Sen Demint.

They had a report just a few minutes ago on Fox News. May want to wait a while before trying to access the site!
I dont know what it is but I cant get the link to open up for me it says this link appears to be broken
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Old 02-09-2009, 07:52 AM
 
Location: Londonderry, NH
41,505 posts, read 51,222,776 times
Reputation: 24606
One man's pork is another man's paycheck. Let's get on with this.
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Old 02-09-2009, 08:28 AM
 
12,625 posts, read 18,123,176 times
Reputation: 2989
This is so shameful!
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Old 02-09-2009, 09:33 AM
 
10,543 posts, read 11,983,230 times
Reputation: 2798
Obama says the goal of the stimulus is to create 3 million jobs. If you divide the $900 billion by 3 million jobs, you see that this stimulus will cost $300,000 per job - if it's successful.

If we decided that we wanted to create 3 million jobs that paid $50,000, we could give businesses that money as long as they employed people for at least a year. The cost of that would be $150 billion.
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Old 02-09-2009, 09:35 AM
 
34,990 posts, read 34,655,861 times
Reputation: 6163
Quote:
Originally Posted by John1960 View Post
The Obama administration's economic stimulus plan could end up wasting billions of dollars by attempting to spend money faster than an overburdened government acquisition system can manage and oversee it, according to documents and interviews with contracting specialists.

If Spending Is Swift, Oversight May Suffer - washingtonpost.com
Obama plans to set up stimulus oversight board | Business News | Jerusalem Post

The OP's WaPo article details that they're aware of the pitfalls and are organizing to meet the challenges. Page 2 is interesting, details past squandering of billions that this Admin firmly intends to avoid.

Panic led to waste after 9/11 and Katrina. "Government contractors interviewed job applicants at five-star resorts and hotels, where auditors found they paid $1,180 for 20 gallons of Starbucks coffee, $1,540 to rent extension cords at one hotel and $5.4 million for nine months salary to the head of the event-planning firm that ran the show." "In the rush to respond to the devastation of Hurricane Katrina, federal authorities issued more than $10 billion in contracts, only about 30 percent through full-and-open competition, studies have found. The government ended up spending $2.7 billion on mostly no-bid contracts for 145,000 trailers and mobile homes, including 8,000 that were never used and 41,000 now being sold at 40 cents on the dollar."

"Multiple causes -- including poor planning, noncompetitive awards, abuse of contract flexibilities, inadequate oversight and corruption -- have all played a part."

That's what the Obama Admin plans to avoid. The WaPo article just gives some fretting that this or that might go wrong, but it also gives information on the efforts being made to get this right.

Last edited by delusianne; 02-09-2009 at 09:46 AM.. Reason: more information
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