Summary
The $787 billion economic stimulus package that Congress passed Friday, with the support of no House Republicans and only three GOP senators, is a hideous caricature of what its sponsors promised. It was originally advertised by President Barack Obama as something that would create or save 3.5 million jobs and would be timely, targeted, and temporary. The final package clearly flunked the latter two descriptions - it was 1,073 pages of scattergun spending, with much of it extending for a decade - and it offers a "cure" to the jobs hemorrhaging that may be far worse than the disease.
Before Mr. Obama has even submitted his first budget later this month, he and congressional Democrats have increased spending for multiple programs that will be in place for the next 10 years before expiring - a multiyear practice virtually unheard of in American politics that may cost $2 trillion more to fund. The nonpartisan Congressional Budget Office estimated that the full cost of this bill, including its $348 billion debt service and the out-year financing, will reach $3.2 trillion by 2019.See the full content of this document
Extract
Stimulus Package Flunked Test
There are countless handouts that are nice (especially for the direct recipients) but question...
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