George Sarant

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THE “STIMULUS” PROJECT

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In connection with the entry below, we should ask where the great public projects are of today. Congress rushed through a $787 billion “stimulus” package that has stimulated nothing, as unemployment continues to rise. That’s not surprising given that most of the spending will occur in future years. But spending on what? It largely throws more money at areas where we are already spending, simply jacking it up and expanding government and the deficit to no good end.

At least during the depression we built dams, bridges, and roads. What will we have to show from this huge stimulus expenditure? What tangible legacy will it have? This shows nothing more than a failure of imagination and common sense in literally throwing money away. While it is increasingly likely that we will see some turnover of this mischievous congress in 2010, it is an open question as to how much of the damage they are doing can be undone.

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Written by georgesarant

July 21, 2009 at 10:32 PM

Posted in economy, government

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