January 20, 2009
The $825 billion government stimulus package unveiled by congressional Democrats on Friday contains billions of dollars in government spending supposedly designed to create jobs and stimulate the economy.
However, the package also contains a host of items congressional leaders rarely mention, including hundreds of millions of dollars for cable TV boxes, new windows in government housing, and day care, among numerous other economic stimulus programs.
Drafted by Rep. David Obey (D-Wis.), chairman of the House Appropriations Committee, the stimulus proposal – the “American Recovery and Reinvestment Bill” – claims that without the massive federal spending, America will face “economic chaos.”
“Without this package, we are warned that unemployment could explode to near 12 percent,” Obey said in a statement accompanying the bill’s release. “With passage of this package, we will face a large deficit for years to come. Without it, those deficits would be devastating and we face the risk of economic chaos.
This article was posted: Tuesday, January 20, 2009 at 1:09 pm