While the Democrats are making emotional appeals, fighting the Republicans with straw man arguments, and continuing to pretend that the issue is already settled (have you noticed how Dems love pretending there’s a consensus?), Republican House Leader John Boehner’s blog details some serious problems with the “stimulus” and backs them up with hard numbers. Highlights:
- The final agreement will cost each and every household more than $6,500 in additional debt.
- The “Making Work Pay” tax credit at the center of the plan amounts to $1.10 a day, not even enough to ride the bus one-way to work.
- The final agreement is almost as much as the annual discretionary budget for the entire federal government.
- The $789.5 billion final agreement slated for a House vote either today or tomorrow will exceed more than $1 trillion when adding in the interest of approximately $300 billion between 2009-2019.
- Apparently included in the final “jobs” bill is money for plug-in vehicles, money for STD prevention, and money for ACORN (via the Neighborhood Stabilization Program and CDBG program).
Not that I am under some illusion that Republicans have suddenly come back to sound fiscal policy — how many Austrian economists could there possibly be in Congress?— but the points he makes are excellent nonetheless.
And while I’m at it, I should note that I cannot find a single, non-partisan economist who thinks this thing is a great idea. (Not to mention that this stimulus bill is so bloated beyond direct monetary injection it looks nothing like the specter of a bill that they’re arguing in favor of!) Obama sets up an awfully good argument that “[t]here is no disagreement that we need action by our government, a recovery plan that will help to jump-start the economy.” Except with all due respect Mr. President, that is just not true. There is serious disagreement with the President on this.
What about you? Are you too partisan to see beyond this ruse, or are you willing to look at the facts, listen to the experts, and make a rational decision based on common sense? If artificially low interest rates, astronomical government spending, corporate and personal welfare, and unchecked printing of the dollar is the key to prosperity, why are we in this mess?