House “Jobs” Bills – Addiction To Pork Wins Over Fiscal Responsibility
You remember the headlines Senate Majority Leader Reid got last week when he threw out a bipartisan jobs bill effort crafted by Sen’s Baucus and Grassley with a price tag of about $100 billion for a very scaled down version costing$15 billion?
Not to worry – the House’s version of the job bill is much more like the Baucus/Grassley version than the Reid bill – and even more. In fact it comes in at 10x times the Reid bill and has the usual cornucopia of porky spending and subsidies for perpetual money losing programs we’ve all come to expect from our out-of-touch legislators. This list is classic – subsidies for programs of marginal worth with many completely unconnected with jobs or job creation as well as the usual unemployment benefit extensions. And don’t forget the Medicare “doc fix” – critical to creating jobs [/sarc] – which also finds its way into the bill. Here’s the list:
* $27.5 billion for roads and bridges
* $8.4 billion for public transit
* $800 million for Amtrak
* $500 million for airport improvement projects
* $100 million for maritime interests
* $2.1 billion in Clean Water funding
* $715 million for Army Corps of Engineers projects
* $2 billion in Energy Innovation Loans
* $4.1 billion in School Renovation Grants
* $1 billion for the National Housing Trust Fund
* $1 billion for the Public Housing Capital Fund
* $23 billion for an Education Jobs Fund for states
* $1.18 billion for law enforcement jobs
* $500 million for firefighters
* $200 million for AmeriCorps
* $500 million for Summer Youth Employment programs
* $300 million for the College Work Study program
* $270 million for Parks and Forestry Workers
* $750 million for competitive grants in “High Growth Fields”
* $41 billion to extend expanded jobless benefits for six months
* $12.3 billion to extend COBRA health insurance aid for jobless workers
* $354 million in Small Business Loans
* $2.3 billion in expanded Child Tax Credits
* $305 million to keep certain people eligible for federal aid programs
* $23.5 billion to extend a higher federal match for some Medicaid payments to doctors
If you carefully peruse the list you realize this is “Stimulus II” and will have just about the same effect “Stimulus I” – drive us into a deeper debt hole and create nothing in terms of jobs. Small business creates about 80% of the jobs in America. The $150 billion bill sets aside $354 million for Small Business Loans. $354 million. Even Summer Youth Employment programs got more. Yup – a real “serious” jobs bill.
A poll today said that only 6% of Americans believe the $787 billion stimulus bill (which was promised to keep unemployment down to 8%) has had any positive effect whatsoever in creating jobs. It should be clear that such messages from the unwashed masses has still yet to penetrate the “clueless bubble” many members of the House continue to live under inside the beltway.
[ad] Empty ad slot (#1)!