Democrats in Congress finally have what they wanted for years – a blank check.
Currently proposed – the other $350 Billion in “TARP” money – not to be used for the intended TARP purposes of course, but for anything.
$825 Billion and counting “stimulus bill” that includes the following:
“Increased spending on food stamps, unemployment insurance and job training. It also proposes an increase in Pell Grants for college students of $500.
The measure calls for $87 billion to help the states meet the rising cost of providing health care for the poor in the recession, and another $39 billion to subsidize coverage by out-of-work wage-earners who cannot afford the cost of their employer-covered health care.
More than $100 billion is ticketed for education, including money for school districts to shield them from the effects of state cutbacks in services.
$30 billion for highway construction and $10 billion for mass transit and rail.
Funds for energy-related programs were sprinkled throughout the legislation.
Included is $32 billion to upgrade the nation’s electrical distribution system, more than $20 billion in tax cuts to promote the development of alternatives to oil fuels, and billions more to make public housing, federal buildings and modest-income homes more energy efficient.
Other items in the measure include funds for state and local law enforcement funds, extending broadband service to rural and other underserved areas, and money to computerize health records”
I defy you to find any media reporting, or details from Congress – explaining how any of this will “stimulate” the economy. Construction projects will have economic benefits – years down the road. But not this year. Money for law enforcement? Money from the federal government to state governments to pay for health care?
Its just a grab-bag of favored Democratic projects.
Or – truth be told – the mechanism for Democrats to force major portions of the economy, and millions more people, to be dependent on the government. The socialist welfare state is closer within the liberals’ grasp.
Whatever happened to the ‘root causes’ of the financial crisis?
Already in extreme debt, the Democrats are going to sink unprecedented amounts of new debt on the country without any claim of financial responsibility. And if other countries, like China, decide to stop buying out debt, all bets are off.
It’s a high stakes game as the Democrats bet that they can spend the country into prosperity.