RSSCAGW Highlights More Failed “Stimulus” Spending
CAGW | September 5, 2010
A week before President Obama signed into law an additional $26 billion in “economic stimulus” spending on August 10, CAGW highlighted a new report by Sens. Tom Coburn (R-Okla.) and John McCain (R-Ariz.) questioning the efficacy of the Obama administration’s original “stimulus” package, the $862 billion American Recovery and Reinvestment Act (ARRA). The report reveals that some stimulus programs led to job losses, instead of job creation. For example, ARRA dollars went to construction projects that blocked access to local businesses – which laid off employees as a result. The report also details more questionable uses of stimulus money, including $1.2 million to convert an abandoned train station into a museum in New Jersey, $762,372 to develop interactive dance software in North Carolina, and $554,763 for new windows at a visitor’s center in Washington that closed in 2007. “The stimulus is part of a large down payment on a long-term legacy of fiscal woe, as the national debt will nearly double in the next 10 years,” declared CAGW President Tom Schatz. “In the prescient words of CAGW co-founder J. Peter Grace, ‘we’re mortgaging our children’s future…we’re robbing piggy banks, we’re taxing our defenseless children without representation. … It’s unforgivable.’” Read more about the findings of Sens. Coburn’s and McCain’s report on the “stimulus.”
Contributor's website: http://cagw.org
Content posted by users from other sites is posted for commentary and news purposes under fair use and each author is responsible for their own postings and a particular posting should not be construed as being endorsed by this site or its owner.
Leave a Reply
Loading ...Recommended Reading:
