7ony (7ony) wrote,

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.
  • Post a new comment


    default userpic

    Your reply will be screened

    Your IP address will be recorded 

    When you submit the form an invisible reCAPTCHA check will be performed.
    You must follow the Privacy Policy and Google Terms of use.