Barney Fwank, Uh Frank, and Co. Are Contradicting Themselves. Again.
Why would I post on the same topic just a couple days after one another? Because Congress, and particularly the House Democrats, are hellbent on spending another $300 Billion to 'fix the economy'. Now, if they are going to spend that cash, and they are truly concerned about jumpstarting it ASAP, then they are full of crap. Here's why...
Congress wnats to get this stimulus done before George Bush leaves office. Dont' take my word. George Miller (D-CA) said "It almost appears that nothing can be done fast enough." Why? Well, they say it's to get the recovery ball rolling as quick as possible, but really it's all politics.
By wrapping this up in the next week, the Democrats - who have been the ones in control of Congress for the past two years - can pile it on as the agents of change. I'll agree with everyone - we are in a recession, albeit a small one. However, passing this today or two moths from now doesn't matter much. It all takes time to enact it....
So, if Congress wants this to take effect ASAP, the best way would be to send a second round of rebate checks, right? Wrong. Congress wants to spend it on infrastructure projects. Bridges, roads, schools, etc. Some might be needed, but many of them are likely pork projects. I've chatted about the stupidity of Pork, before, so I will talk specifically about the speed of it's effect solely today....
If Congress is looking to quickly get the economy rolling and making the lives of Americans better in 2009, infrastructure porkjects are not the way to go. Pork needs funding, then all the porkjects need to be bid on, then assigned, then built. Ask Earl for an estimate on the lag time between a decision on building a project, and the time it actually starts. Need an example of it? Remember Florence County's Penny Tax? It was passed tow years ago, and none of the projects are completed, and even the first project has had funding issues...
The theory is always that roads, bridges, etc. produce more jobs than just the construction jobs themselves, and it is true. But, i do find it interesting that Democrats endorse this theory. Infrastucture stimulus is really a variant of Trickle Down Economics - except that you swap the private sector with the government. Hmmmmmm.....
Not if, but when Congress decides to blow more taxpayer cash, rebate checks are still the best way to inject the money into the economy quickly.. If they want to cap it off to avoid the money not being spent, then don't send checks to taxpayers who make over $100k or $150k a year. Anywhere you live, that is solid upper middle class. They are not suffering. Let's not be stupid with the money folks. But , we are talking about Congress here........
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