This chart is from Ask Heritage, a website of the Heritage Foundation.
I suspect these are the numbers from the bill that was passed by the House of Representatives, but please understand, the bill that will come out of the final committee will be substantially the same as the bill that passed th House of Representatives. What you saw yesterday was political theatre on the the part of Democrats aided and abetted by some liberal Republicans. Generally speaking, a Northeast Republican (if you can find one) tends to be more liberal (more tax and spend) than a Southeast Democrat.
Just a note on all the 'sky is falling' reporting on the unemployment figures for January and February. According to the Bureau of Labor Statistics, the unemployment rate in January was 7.6 percent. That is equal to the unemployment rate in 1981. In 1982, the unemployment rate was 9.7. If you are reading this and have lost your job, I know these are just numbers and they don't solve your immediate crisis--but neither does the stimulus plan. If you look at when the spending happens, it has more to do with the fact that a Congressional election happens in 2010 than what the situation is now. It also places a drag on the economy (where is the money going to come from?) and a debt on each of our children and grandchildren. Congress has now revealed that they can't account for a sizeable amount of the original 'bailout' money and how it was spent. Why in the world do we want to give them more money?
Leave a comment