February 9, 2009

All You Need to Know About the ‘Stimulus’ Bill: It’s 47% Earmarks, 80% ‘Doesn’t Create Jobs’

Filed under: Economy,Taxes & Government — Tom @ 6:30 am

Based on Nebraska Senator Ben Nelson’s own description, it’s at least 47% earmarks (courtesy of Political Calculations):

EarmarksStimulus0209

Based on Idaho Democratic Congressman Walt Minnick’s assessment, the bill is five times as big as it should be (HT Red State):

Minnick’s bill is called The Strategic Targeted American Recovery and Transition Act (START Act) of 2009.

“The biggest difference is that I’ve cut out everything that doesn’t create jobs in this year and next,” Minnick said Thursday. “It’s only $174 billion, $650 billion less than what the House passed and probably $750 billion less than the trillion dollar bill the Senate is talking about. It focuses on infrastructure spending, there’s $70 billion on bridges, roads and school construction and there’s $100 billion on tax cuts to middle and low income people.

Minnick said his proposal would spend all the money by the end of 2010, while the White House proposal would only spend 30 percent of the larger amount they’re proposing.

The price tag for the House bill that passed a couple of weeks ago is $824 billion ($174 + 650). That’s 4.7 times larger than Minnick’s proposal.

If we use the “$750 billion less” figure cited above, the Senate bill is $924 billion ($174+750), which is 5.3 times larger.

Minnick was one of 11 Democrats who voted against the House version of the bill.

Bottom line: A member of the Party of the POR (Pelosi-Obama-Reid) Economy has called out the fact that roughly 80% of the mislabeled stimulus bill “doesn’t create jobs in this year and next.”

Paraphrasing a statement made yesterday on the lack of oversight in the bill (“This is dereliction of duty on a scale never seen”): This is false advertising by government on a scale never seen.

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1 Comment

  1. Stimulus bill brings back welfare without limits…

    Read the following text buried in the House version of the Generational Theft Act of 2009 (emphasis mine): EMERGENCY FUND. — ”(1) ESTAB-LISHMENT. — There is established in the Treasury of the United States a fund which shall be known as the ‘Emer…

    Trackback by Brain Shavings — February 9, 2009 @ 9:04 am

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