Tuesday, February 3, 2009

More reasons NOT to like the "stimulus" package from FRC

#TCOT - A Day Late and a Trillion Dollars Short

According to Gallup, the only thing growing faster than America's debt is popular displeasure with Obama's stimulus plan. Although a slim majority of voters approved of the idea last week (52%), confidence in the package is plunging--and fast. Today, according to the Gallup poll, only 38 percent of respondents said they support the pork and payoff bill, and most are doubtful that creating 32 new government programs will help the economy this year--if ever.

Perhaps they, like us, are concerned by President Obama's statement yesterday. "Once it's passed, you will be able to see how every penny in this plan is being spent."

By then, Mr. President, it will be too late!

For an idea of just how much this boondoggle basket will cost compared to past government expenses, Bianco Research did some number crunching. Not one of the following projects came remotely close to topping Obama's $1.1 trillion stimulus plan.

Marshall Plan: Cost: $12.7 billion (adjustment for inflation $115.3 billion)
Louisiana Purchase: Cost: $15 million (adjustment for inflation $217 billion)
Race to the Moon: Cost: $36.4 billion (adjustment for inflation $237 billion)
Korean War: Cost: $54 billion (adjustment for inflation $454 billion)
The New Deal: Cost: $32 billion (estimated), (adjustment for inflation $500 billion, approximately)
Invasion of Iraq: Cost: $551 billion (adjustment for inflation $597 billion)
Vietnam War: Cost: $111 billion (adjustment for inflation $698 billion)

A new post on the FRC Blog itemizes what a trillion dollars could buy, with help from the book What We Could Have Done with the Money.

Instead of giving tax breaks to Hollywood or sponsoring transgender beauty pageants, Congress could give every man, woman, and child in the U.S. a check for $3,400. Now that's real economic stimulus!

Additional Resources FRC Blog: What Would You Buy with a Trillion Dollars?


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