A Shovel-Empty Waste Of $787 Billion

Politics • May 2011 • Views: 871

Infrastructure: On top of the other failures of President Obama’s $787 billion stimulus plan you can now add this: It didn’t even fulfill the simple promise of creating more highway jobs and improving roadways.

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4 comments

watching you tiny alien kittens are Sat, May 21, 2011 7:21:00am

I don't think it would be possible to find a less informative, badly thought out, and more biased article full of misperceptions than this one, congratulations. :(

Curt Sat, May 21, 2011 7:47:28am

re: #1 ausador

I don't think it would be possible to find a less informative, badly thought out, and more biased article full of misperceptions than this one, congratulations. :(

It is interesting how polls of people on the street are so valued for reality, yet studies by large firms who deal in economics are so casually dismissed.

I would, however enjoy seeing references/links to studies from large institutions, who deal with such analysis that show that the $787B was used effectively, but there seems to be no data I've seen around the net proclaiming success.

watching you tiny alien kittens are Sat, May 21, 2011 8:09:20am

re: #2 Curt

It is interesting how polls of people on the street are so valued for reality, yet studies by large firms who deal in economics are so casually dismissed.

I would, however enjoy seeing references/links to studies from large institutions, who deal with such analysis that show that the $787B was used effectively, but there seems to be no data I've seen around the net proclaiming success.

Did it ever occur to you to consider the gigantic deficits that the states are running due to the loss of property tax values, lower sales tax receipts, and thus also lower taxes paid by businesses?

Sure a lot of the Federal money only replaced State spending, DUH!

It is presented here as though the states would have spent the same amount whether or not they received federal funds which is simply not true and also incredibly simple minded. Those federal dollars supported projects that otherwise would have been canceled entirely or delayed for years, that was part of the point.

If this is the typical caliber of "research and opinion" that you get from Investors Business Daily then I hope you are not a subscriber and if you are I think you should be demanding a refund.

Please also note the statement in the article;

The Department of Transportation, meanwhile, found that 21 states weren't abiding by rules meant to prevent just this sort of shell game.

So the fact that the feds have looked at it and decided that 21 states did not put up enough of their own funding as required for some projects is also supposed to portray their incompetence? Catching them cheating the rules and asking for reimbursement is wrong too?

Think these things through for yourself, don't rely on some partisan hack to tell you what you should think.

Timmeh Sat, May 21, 2011 8:28:45am

Investor's Business Daily are partisan hacks.

Back in early 2009 they were blaming Obama for the stock market going down to 6500. Of course they didn't bother to give him any credit when it went back up after that. It's a lot higher than when he took office now.

States would have had to slash spending even more without the stimulus.

Here's the CBO analysis of the stimulus:

[Link: www.cbo.gov...]

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