The 2009 Stimulus Package: A $787 Billion Horror Story
Friday February 13, 2009
Call it the "St. Valentine's Day Massacre Part II" or "Revenge of the Democrats," but no matter how you look at the 2009 economic stimulus bill on this Friday the 13th of February -- it's a horror story.
The Republican proposal when the process started was $440 billion and that included a stop gap measure that froze any additional spending after two quarters of positive growth in the gross domestic product. Meanwhile, the "we won" Democrats' version was $900 billion with no stop gaps in case of economic recovery.
Senate Democrats and three Senate Republicans settled on a $780 billion package, and even that was inadequate because the newly "negotiated" version that arrived on Congressional doorsteps at 11 p.m. Thursday evening was for $787 billion.
According to Republican Sen. Lindsay Graham of South Carolina, the bill actually spends $1.1 trillion over 10 years, and again, that's with no stop-gaps in case of economic recovery. That means if (on the very off chance) the bill were to succeed, the government would go right on spending.....