The View From 1776
Wednesday, January 28, 2009
Stimulus, Or Squealing Pork?
Only about 12% of the proposed $825 billion stimulus bill will go for purposes that arguably may stimulate job creation. The rest is additions to standard welfare-state handouts. More than $265 billion, 32% of the total, is transfer payments, i.e., the government takes $265 billion of your taxes and gives the money to someone else, for a net effect of zero in economic stimulation.
Read the Wall Street Journal’s editorial analysis of the proposed stimulus plan.