HEY BIG SPENDER
It'll never work. That's really all you need to know, but for the sake of credibility, I will explain in more detail. First, I think it should be considered a "clue" when even President Obama himself tells us that this "stimulus bill" is not going to work right away and will be a hard pill to swallow. Hey, here's a wacky thought, if you know your own plan sucks, why not try one that doesn't.
Second, if the plan for creating wealth and prosperity in a lagging economy were as easy as spending massive amounts of money, then I think it's safe to assume that we would all be filthy rich.
Third, the business community did not get to where they are by being retarded. They know how to create wealth and prosperity, and they know that this is not the way to do it. Why do you think the DOW has remained in a low level holding pattern since Obama's election? It's because they know better than to invest or spend significant amounts on new development when Obama has more or less declared war on the free market. They are in panic mode waiting to see how Obama is going to stick it to them next. Not only are they not going to invest, but they are going to tighten their belts in hope of weathering the coming Obama storm. We see this already by virtue of layoffs and other cutbacks.
Fourth, so much of this bill is nothing more than pork and earmarks...you know, what Obama promised he would not have in his administration? Of coarse, there is always the chance that Frisbee parks and ATV trails create more jobs than what I realize.
Fifth, I remember how not too long ago, Democrats howled about the massive deficit spending that was happening during the Bush administration. They whined obsessively about how it will destroy the economy. Now that they are in charge, deficit spending is brilliant. As if all laws of economics have somehow changed, simply because of who resides in the White House. Basically, they want to "double down" on the same thing they used to make fun of Bush for doing.
Sixth, by the time most of the proposed public works projects proposed in the bill actually see broken ground, we will be driving flying cars, and roads will be obsolete anyway. People forget about appropriations, union negotiations, arbitration, the bidding process, land acquisition issues, material procurement, planning, societal impact studies, environmental impact studies, inevitable litigation etc, etc. The bureaucracy alone will take ten years to sort out.
Seventh, the first stimulus package didn't work, so why would a bigger one do the trick?
If one trillion dollars will fix the economy, then why don't we spend two trillion? Better yet, let's spend ten trillion and dominate forever. It defies logic to think we can spend our way out of this.
The day after this bill passes, if the DOW goes up 1000 points or more, I'll eat my Bush/Cheney hat.