Well, here’s 10 more important reasons that will open your eyes for reconsidering it then. Via FreedomWorks.  Many economists are opposed to this “stimulus” plan, there is still no explanation which (or whose) taxes will pay when the bill is due, and exactly how many jobs are projected to be created as a direct result in 2009, 2010, 2011, etc.  I think a lot of people are just looking at the immediate picture and not what will happen down the line. This makes for an inaccurate outlook when it comes to economic planning. What do we think is going to happen when the bill comes due for this – it’s either we pay a lot more in taxes OR the Fed starts printing more money which then leads to inflation. Either way the money isn’t coming from a magical tree which will help our problems disappear. I say tackle the issue now through reduced govt. spending and dramatic temporary tax cuts on income and corporate taxes through the end of 2009. Remember, spending $1 trillion via the govt. means that’s $1 trillion we have to take out of the economy at some point to pay for it.

Also, TryingtoGrok had Tom Coburn hitting the nail on the head with some of this frivolous spending.

pig_cashWe are going to spend $448 million to build the Department of Homeland Security a new building. We have $1.3 trillion worth of empty buildings right now, and because it has been blocked in Congress we can’t sell them, we can’t raze them, we can’t do anything, but we are going to spend money on a new building here in Washington. We are going to spend another $248 million for new furniture for that building; a quarter of a billion dollars for new furniture. What about the furniture the Department of Homeland Security has now? These are tough times. Should we be buying new furniture? How about using what we have? That is what a family would do. They would use what they have. They wouldn’t go out and spend $248 million on furniture.

Bottom line – this porkulus plan is going to cost an average of $10,000 from each household in America. Do you have an extra $10,000 you’d like to just hand over to the govt. and never see any of the benefit of it? I find it hard to believe if any people would be happy with that scenario. And if you need a lesson in how govt. spending doesn’t cure economic woes, then take a look at Japan in the 1990s.

The recession that happened in 2001/2002 was helped by the 2003 Bush tax cuts, the roaring US economy in the late 90s was helped in part to the driving interest of dotcom stocks but also the 1997 Tax Reform bill. I don’t think tax cuts are the only answer but at least we should have temporary ones put in place to give immediate and direct relief to families as well as business to help them keep employees or create new jobs. Not spending $500 million on the National Endowment for the Arts or HIV testing.  If we’re going to have to spend money under this administration let’s make it about funding more manufacturing, infrastructure and technology. 95% of that bill should go toward those initatives – not just 5%!

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