Wednesday, January 28, 2009

The Democrat’s Earmark Stimulus Plan

Writing in Politico, Rep. Darrell Issa of California, the ranking Republican on the House Committee on Oversight and Government Reform, reveals that only 7% of the so-called American Recovery and Reinvestment Act will be “injected into the economy by the end of fiscal year 2009. More than $200 billion of “stimulus” funds will be spent between fiscal year 2010 and fiscal year 2019 — long after the recession is projected to be over.”

“Instead of injecting new life into the economy, we’re seeing a massive expansion of government. The bill by Speaker Nancy Pelosi and Appropriations Committee Chairman Dave Obey contains $137 billion for the creation of 32 new programs — that’s 38 percent of all spending in the current bill. Seventeen of these new programs have never been authorized by the Congress. This is on top of the $76 billion being spent to expand 60 existing government programs — 19 of which have been described as ‘ineffective’ or ‘results not demonstrated’ by the Office of Management and Budget. It’s just another example of good money after bad.

The proposed Pelosi-Obey $825 billion economic stimulus is nothing more than an $825 billion earmark that will do little but expand the federal government at the expense of America’s long-term economic health.”
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