Free Markets, Free People


Stimulus II? Ponder This ….

You’ve just witness the unimaginable – Congress passes a 789 billion dollar pork-laden spending bill disguised as a “stimulus” bill and they may be contemplating “Unimaginable II”:

Despite the enormous size of the $787 billion stimulus plan, some economists worry that it won’t make a big enough dent in unemployment and that lawmakers will have to work on another stimulus in short order — something members of Congress are loathe to discuss.

“That’s possible,” said Alice Rivlin, a former Clinton administration budget director. “I think the economy is getting worse quite rapidly and this may not prove to be enough.”

And why is that, Ms. Rivlin? Why might it not be “enough”?

The stimulus got “less stimulative,” Rivlin said, as it passed through the Senate and some of the things that offered “the biggest bang for the buck” were scaled back, such as more money for food stamps.

*Gasp*

You mean it was exactly what those mean old Republicans said it was – more relief than stimulus. More social spending than jobs? That, in fact, any stimulative part of the bill was watered down or eliminated in favor of special interest spending on programs which are either years in the future or will provide no immediate jobs with which to help get the economy moving?

You mean, despite all the rhetoric and nonsense to the contrary by Obama and the Dems, we are on the road to repeating the mistakes Japan made that brought them their “lost decade”?

No kidding?

And I doubt many would call Ms. Rivlin a right-wing reactionary economist spouting Republican talking points, would they?

So now that the Dems have fulfilled their 40 year social program spending spree, it appears they may now try to actually stimulate the economy with a few more hundred billions of your great, great, great grandchildren’s money.

More future theft.

“Son of Stimulus”, coming to a wallet near you soon?

~McQ

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8 Responses to Stimulus II? Ponder This ….

  • “some economists worry that  won’t make a big enough dent in unemployment”

    Hah! I guarantee that it won’t make a big enough dent. In spite of all the blather by economists and political scientists, nobody has found a cure for recession. Like the common cold, it lasts as long as it lasts. You can make it worse, turn it into pneumonia, but you can’t cure it. They give out Nobel prizes for things like that, and I don’t recall hearing about one being given out for curing recessions.

  • The stimulus got “less stimulative,” Rivlin said, as it passed through the Senate and some of the things that offered “the biggest bang for the buck” were scaled back, such as more money for food stamps.

    i.e. The GOP (snarl!) managed to ruin – RUIN! – the stimulus package, and so we’ll have to have another one and hope they don’t screw that one up, too.
    At least, that’s how further deterioration in the economy will be pitched by the filthy dems and MiniTru.

  • There could be no better investment in America than to invest in America becoming energy independent! We need to utilize everything in out power to reduce our dependence on foreign oil including using our own natural resources. Create cheap clean energy, new badly needed green jobs, and reduce our dependence on foreign oil. The high cost of fuel this past year seriously damaged our economy and society. The cost of fuel effects every facet of consumer goods from production to shipping costs. After a brief reprieve gas is inching back up.  OPEC will continue to cut production until they achieve their desired 80-100. per barrel. If all gasoline cars, trucks, and SUV’s instead had plug-in electric drive trains, the amount of electricity needed to replace gasoline is about equal to the estimated wind energy potential of the state of North Dakota.  There is a really good new book out by Jeff Wilson called The Manhattan Project of 2009 Energy Independence Now.

    • Yes, well, does that mean covering an area the size of North Dakota with windmills? Do the calculations include transmission losses? Does the cost-benefit include the amortized cost and maintenance of a zillion windmills? The manufacture and disposal of zillions of car batteries?

      I’m all in favor of energy independence. The fact that the odious House of Saud and the Iranian mullahs hold any significant power in the world distresses me. However, every single time I’ve taken the time to analyze proposals that were supposed to make us energy independent, they were infeasible, and many were merest fantasy.

      My best hope these days is cheap solar, facilitated by advanced in nanotechnology. But at best it might contribute 10-15% of our energy load, and it still needs storage mechanisms for large scale use (hydrogen?).

      So we are where we are, and the last thing I want is tons of money poured down ratholes in the pursuit of ridiculous energy programs that will *never* be cost effective. I’ve been down that road with Carter and his synfuels.

  • They was bill for government expansion and paybacks.  Under the guise of a stimulus bill, Obama grew government in a month what would have taken several months or a few years to grow program by program.  It was a success on that level.  But its cost Obama and the Democrats in congress in terms of public support and confidence. 

    There will be a new stimulus bill.  The next one with be designed to buy support back from the public.  I am certain most people will get a check next time out.

  • This post has been linked for the HOT5 Daily 2/16/2009, at <a href=”http://unreligiousright.blogspot.com/”>The Unreligious Right</a>

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