Tuesday, January 20, 2009

And It Can Get Worse

Much, MUCH worse.
The government wouldn’t be able to spend at least one-fourth of a proposed $825 billion economic stimulus plan until after 2010, according to a new report that suggests it may take longer than expected to boost the economy.

A Congressional Budget Office analysis of President Barack Obama’s plan found that most of the approximately $355 billion in proposed discretionary spending on highways, renewable energy and other initiatives wouldn’t be spent before 2011. The government would spend about $26 billion of the money this year and $110 billion more next year, the report said.

But wait, there's more!
The analysis suggests that much of the stimulus may not come until after the economy has begun to recover. The CBO has previously said it expected a “slow” recovery to begin later this year and that the economy will expand by a “modest” 1.5 percent in 2010.

That clinches it. This "stimulus" has nothing to do with the economy; it has EVERYTHING to do with increasing government spending and is using the recession as an excuse.

(h/t DrewM at Ace of Spades HQ)

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