
Is Stimulus ‘Shovel-Ready’ After All?
There’s a massive government program that has been sold to the American people with the help of a whole lot of shoveling by the Obama Administration and the Democrat-controlled Congress.
I’m talking about the “stimulus” program, which was supposed to get “shovel-ready” projects built right away, giving an immediate shot in the arm to the economy.
It’s no wonder, of course, as many a president elected during (and therefore almost invariably because of) economic downturns has, during his first 100 days, spent immediate political capital on stimulus. Our current situation has been no exception as job losses and personal net worth are declining at a pace not seen since the late 1970s. The national economy continues to lose jobs at a breathtaking speed, with about 1.5 million jobs lost just in the time since President Obama entered office.
The President’s Keynesian proposal to jumpstart the economy is ambitious in one dimension – size. The $700-billion-plus “stimulus package”, called the American Investment and Recovery Act, was sold as a “shovel-ready” plan intended to employ many of those out of work in… Read More