Posted on 01/29/2009 8:29:26 AM PST by Sub-Driver
Almost Half the Spending in Stimulus Bill Would Not Happen for at Least Two Years, Says CBO Analysis Thursday, January 29, 2009 By Matt Cover
(CNSNews.com) – Although the argument for quickly passing the $800-billion-plus stimulus bill now before Congress is that pumping money into the economy immediately will spur economic growth and create jobs, almost half of the new spending—as opposed to tax cuts—being proposed in the bill would not be spent until at least two years from now, according to an analysis published by the Congressional Budget Office.
The tax cut provisions in the bill would take effect more quickly, according to the report, which was initially published Monday and has been updated during the week.
According to the CBO analysis, timely spending of the money will be hampered by bureaucratic delays and the inability of state and federal agencies to efficiently and effectively spend the massive inflows of new money.
In a statement commenting on the CBO’s report, House Speaker Nancy Pelosi (D-Calif.) highlighted the speed with which the money would be spent.
“The Congressional Budget Office’s first analysis of the entire House recovery bill makes clear that what experts have been saying all along: the American Recovery and Reinvestment Act provides immediate stimulus to help create jobs and makes long-term, targeted, and responsible investments to keep our nation’s economy growing for years to come.”
(Excerpt) Read more at cnsnews.com ...
Just in time for the Mid Term Elections.
Exactly what I was thinking. When stimulus would kick into gear and have the people thank how obozo saved them.
Since it doesn’t kick into gear for 2 years, then the country isn’t as bad off as the politicians are making it.
It gives the RAT insiders more time to figure out how to siphon more of it off for their own pockets. You know, start or buy appropriate businesses which will get funds, etc.
There is no tax cuts in this pork bill. They are sending 500 dollar welfare checks mostly to people who do not pay taxes.
The “Stimulus” will occur when we are likely to be recovering, adding to inflationary pressure.
This is a classic mistake of Keynesianism, which has been repeatedly pointed to as yet another reason Keynesianism doesn’t work.
But the Ds will do it again, because the “Stimulus” is really a Democrat Spending Blowout, and economics has nothing to do with it.
I don’t know about that. The average American is expecting to see results NOW, not two years from now, since Congress was stressing the urgency. And frankly, judging from how the Porkulus is to be spent, I wonder just now much “relief” the average American is even going to see. They are going to be faced with higher state/local taxes, raises in transit fares, credit interest, etc., none of which is relieved by the Porkulus bill.
The time may be ripe two years from now for a new form of Contract with America. After all, Republicans can run on a “we didn’t vote for this - we wanted to put money directly into YOUR pocket” mantra and if the average American is still struggling (and while I hope we’re not, I have no reason not to believe we won’t be), it might just strike a chord — too early to tell.
“idiots..... “
And what does that make the voters who voted for the Democrat clowns?
Thomas Sowell says this is like mailing the fire dept a letter when your house is on fire.
I’m not convinced this country will survive until the 2010 elections. The home bulders were trying like hell to get something done in congress. No bail out for the builder. They offered a plan that would get people to buying again with little tax payer money. They were turned down flat.
When all these big builders start going bankrupt this country will be in big trouble. And I think the bankruptcy filings will start very soon.
The Porkulus trillion dollar boondoggle will not help the economy, so the Democrats will be in major fingerpointing mode in 2010.
“The time may be ripe two years from now for a new form of Contract with America.” Time is ripe NOW for an alternative, but very good point.
Wait until you read Directive 10-289.
Right. The Dems are artful and skilled political operatives. They are always planning for new ways to hoodwink the electorate and rape the taxpayers.
At the same time, the GOP leadership continues to stand there like deer in the highbeams of an oncoming tractor trailer.
Are the tax cuts for the 2008 tax year? Or do they not take effect until you do your 2009 taxes?
I completely agree, but at present, we can’t provide alternatives, at least in the House. Pelousy has the votes and she is brooking no opposition across the aisle.
What made Contract with America work was that it was formulated at the start of the election cycle, and was getting some decent attention as people were going into the voting booths. The trouble for the Dems in their fingerpointing on the stimulus is that the conservatives can counter - well, you wouldn’t let us give the people back their own money to spend because you needed this big Porkulus bill to save the economy. WE sure as heck didn’t vote for it!!
RINO’s in the Senate, however, who have sided with Pelousy, Reid and Zero are going to have a tough go with the conservatives in their districts.
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