After many weeks of debate, we finally have a stimulus package. The advertised cost of this package is $787 billion. However, according to an article entitled “Stimulus Verdict: A $3.27 Trillion Porker" written by David A. Patten on Newsmax.com this Saturday, the true cost is $3.27 trillion. This is because there is an estimated $744 billion in cost to service the debt plus $2.527 trillion needed to fund the new programs in the bill over the next decade.
There can be no doubt that an infusion of $787 billion into the economy will have an affect on some economic sectors but we must look at the details of the bill to determine what sectors will be affected. Here is a list of some of the items in the bill according to Mr. Patten’s article.
• The plan has more than $3 billion in “neighborhood stabilization” and Community Development Block Grant funding, much of which may go to benefit ACORN, a low-income housing and voter registration “community” organization that is under federal investigation for its suspicious voter registration practices.
• $1.3 billion to bailout AMTRAK, the perennial money-loser railroad.
• $1 billion for educational programs, including courses on sexually transmitted diseases.
• $30 million for restoration of wetlands to be spent in the San Francisco Bay Area – House Speaker Nancy Pelosi’s district. The money will go in part to protect the endangered salt marsh harvest mouse.
• $200 million for a low-pollution, coal-fired power plant in President Barack Obama’s home state of Illinois.
• $45 million for ATV four-wheeler trails, and government office renovations, according to RNC Chairman Michael Steele.
• $200 million to provide computers to community colleges.
• $50 million for the National Endowment of the Arts.
• Over $650 million in coupons to help consumers buy digital TV converter-box coupons.
• A reported $300 million for hybrid vehicles and electric-powered cars. According to the Washington Times, this item will include buying golf carts for federal workers.
These items represent a small sampling of what is in the bill but they demonstrate what occurs when the government tries to stimulate the economy through spending.
ACORN was an organization that worked extensively to elect Barack Obama. It is suspicious when a bill advertised as a stimulus bill to get the country out of its current economic recession contains $3 billion for an organization, who recently helped the president be elected. Other than those working for or helped by ACORN, this spending will do little to stimulate the economy.
AMTRAK has been losing money for years so why do we suddenly think giving them $1.3 billion is going to help. If they continue to operate at a loss, what will they do when this money runs out? Ask for another bailout.
We have a high illiteracy rate in our nation yet the government feels it should send $1 billion dollars to schools for courses on sexually transmitted diseases. Why not take this same money and spend it on courses to teach these students to read so we can reduce the illiteracy rate. That way these students could find better paying jobs and be contributors to the economy instead of being on the government dole.
It also looks suspicious when the house speaker gets $30 million for wetlands in her district and the president gets $200 million for a coal plant in his home state.
I am sure the ATV riders will enjoy their new trails but why does every one of us who do not ride ATV’s have to pay for it.
Why the government offices should be renovated when people in the private sector are being laid off boggles the mind. I am sure some of these laid-off workers would agree to work in the old office without the renovation using the money the government would spend on the renovation.
I can see a benefit of spending $200 million for new computers since this will enable these colleges to provide a higher quality education. However, why not take the $50 million going to the endowment for the arts and give it to the schools so they can buy additional computers or other equipment they may need to retrain some of the workers displaced by the recession.
It has been widely known that TV was going digital. People have had several years to make the conversion. We have also spent millions already for coupons to buy converter boxes. Before spending more, we need to find out what happened to the money we have already spent.
Finally, federal workers using golf carts. I hope this does not mean that more of our federal workers will be out playing golf while workers in the private sector are losing their jobs.
Do you feel stimulated? I know I do. That is I feel stimulated to vote for some changes in personnel in our government this next election. Especially those personnel holding elected office.
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