Wednesday, February 04, 2009
Free Enterprise Project Director Tom Borelli on the Stimulus PlanStatement by Tom Borelli, PhD, director of the Free Enterprise Project of the National Center for Public Policy Research on the stimulus plan:
The adage 'haste makes waste' applies to Obama's massive stimulus plan. In response to our economic crisis the liberal majority is rushing to spend taxpayer money without regard to the consequences of its plan. We've seen this movie before - when Congress panics, taxpayers suffer. Just a few months ago, billions were spent on TARP with little effect on the economy.
In reality it's a left-wing spending plan masquerading as economic stimulus. Only about 5 percent of the current bill will be used for infrastructure costs while millions of dollars are earmarked for other pet projects, such as renovations for the Department of Commerce headquarters, digital television coupons, the National Endowment for the Arts and the liberal group ACORN.
Even worse, according to the Congressional Budget Office, most of the infrastructure projects for roads and bridges will not happen for two years or more. This spending will not provide immediate help to our floundering economy.
The plan is really a rewards program for the left-wing groups that got Obama elected. The only thing stimulating about this plan is the anger it's arousing among Americans.
Posted by Amy Ridenour at 3:08 PM