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To: Bokababe
It wasn't a stimulus bill. We were lied to and told it would go to "shovel ready" construction projects.

Instead, most of the money was "shoveled" to state and local governments to cover their deficits. The main effect was to cover state and local deficits, in effect transferring debt they cannot legally incur onto the federal balance sheet. Besides being bad policy it has no stimulative effect on the economy even by Keynesian standards.

11 posted on 07/22/2010 10:28:28 AM PDT by colorado tanker
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To: colorado tanker

Hahahaha....Massachusetts has spent $500,000 so far on signs touting the stimulus bill. You drive by and see a sign that says another stimulus funded project....and all of the trucks have license plates from Michigan!


13 posted on 07/22/2010 11:05:07 AM PDT by Boardwalk
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