Sunday, July 12, 2009

Republicans unify to oppose more stimulus

GOP unifies against any more stimulus spending

WASHINGTON – Republicans lined up Sunday in opposition to a second economic stimulus package, a rare demonstration of unity from an out-of-power political party in search of a rallying cry against President Barack Obama.

Republicans called Obama's $787 billion spending plan a "flop" and said it hasn't fulfilled its hype. They criticized the White House for increasing the federal deficit and doing little to combat an unemployment rate that hit 9.5 percent in June.

"The reality is it hasn't helped yet," said Sen. Jon Kyl, R-Ariz. "Only about 6.8 percent of the money has actually been spent. What I proposed is, after you complete the contracts that are already committed, the things that are in the pipeline, stop it."

Obama urged patience with his spending program, which administration officials acknowledge was designed with incorrect or incomplete economic data.

"The stimulus package is working exactly as we had anticipated," Obama told CNN in an interview from Ghana that aired on Sunday.

Well, that is great! According to the associated press, the GOP is going to put their foot down and oppose more porkulus spending. That is somewhat like the French deciding to stand up to the Germans while U.S. tanks were rolling into Berlin. A nice gesture but a little late.

I am starting to really suspect that the reason that the spending has been so delayed is to hold back the artificial and temporary bump in employment that the massive deficit stimulus bill might have caused. By holding back and letting the economy collapse further, it will be easier to jam through another "stimulus" bill later this year when unemployment hits double digits. Perhaps that is what the President meant, the stimulus is "working" exactly as planned, i.e. not working and leading to even more deficit spending, bigger government, higher taxes and greater socialism.

Less than 10% of the approved money has been spent and now we are hearing that this has always been a two year plan. Really? Because that is not the way it was spun to us originally. We had to pass it right now without looking at the details because even a day delay would be a catastrophe. Meanwhile months later the economy continues to slide and we are looking at something like 6.8% of the stimulus money being spent. It takes time for spending to impact the economy and they flat out aren't spending money. Makes you wonder what they get out of it...hmmmmm.
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