The Congressional Budget Office estimates 20% of the $825 billion "stimulus" bill passed by the House will be spent in fiscal 2009 (year ending September 30). The balance will be spent in fiscal 2010-2011.
Since the plan doesn't include elements that change economic behavior for the better, such as cuts in marginal tax rates, the purported benefits are directly related to what is actually spent.
So stimulus isn't really the issue.
Rahm Emanuel, Barack Obama's chief of staff, said shortly after the election, "Never let a serious crisis go to waste."
I wrote about this at the time, and now events confirm what he meant: pass a bill that gives subsidies to the Democrats' favored groups and pet causes.
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and the 'causes' to which BO chooses to allocate funds, are completely wasted. One of just many examples of this is $70mm to Head Start, a nice feel good program that research has proven time and time again doesn't work. Even when rthere are some small benefits from HS, they don't last across more than a couple fo years. While only $70mm of $850bn, there are many areas where Leftism prevails in start contrast to the needs of our country.
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