December 8th, 2009


Good News on the US Stimulus Spending

A report on the US stimulus by Tom Coburn (OK Republican), well-known US Senate fiscal watchdog, and John McCain (AZ Republican), Senator and 2008 presidential wannabe, details only $7 billion in what the pair consider wasteful spending. This is out of the roughly $220 billion spent thus far. By my calculation that amounts to a waste of 3 percent; not bad for a government program.

I've always considered the program to be misnamed. Rather than an economic stimulus, it is actually a program to sustain the country until the economy recovers naturally. It provides funds for state and local governments, police, etc., extends unemployment benefits, and funds infrastructure projects in addition to a few energy-related efforts.

I suppose calling it a sustenance program would have been a hard-sell among the politicians.