Is Barack Obaam(BO) planning an economic stimulus package or just of pay-off to campaign donors? From Julie Hirschfield Davis, Associated Press :
WASHINGTON (AP) â€” Congressional Democrats and President-elect Barack Obama are laying the groundwork for quick enactment in January of a giant, two-year economic rescue package that will total about a half-trillion dollars.
Some senior Democratic lawmakers put the cost of the package as high as $700 billion, a figure Obama’s team calls premature and several Democratic aides said was unlikely. One top Democratic congressional official, speaking on condition of anonymity because talks on the economic rescue measure are ongoing, said it will probably cost between $400 billion and $500 billion over two years.
“If you’re going to do something that is big and long-run, like a major infrastructure effort that lasts into the future, then you need to offset it some way â€” either with tax increases or other kinds of spending cuts,”[Alice M.] Rivlin said.
So if in order to spend a so-called stimulus dollar on one hand you have either have an offset dollar, speinding cut or tax increase, where is the new money? Where is the economic growth? In short how is almost a trillion dollare spending plan even qualify as an economic stimulus?
This not a stimulus plan. This just more BS from BO.
Hat tip photo: Free Royalty Images.