Posted by
Billy email MADBillyD@aol.com on Friday, January 30, 2009 10:30:18 PM
As President Obama settles into his new office, it is imperative that we encourage him and Congress to exercise prudence when attempting to rescue the economy.
Massive
deficit spending will only throw our country further into economic shambles, as the current
stimulus and SCHIP bills do little more than increase our debt and healthcare costs. Consider the following issues with the
"stimulus" bill:
The $825 billion bill would dump $10,520 of new debt per household into the laps of our children and grandchildren. The interest on this debt ($347 billion) will dump even more.
Under the stimulus, new groups of children and adults would be eligible for
Medicaid, the welfare program for the poor. These expansions are on top of spending $89 billion to bailout out failing
state Medicaid programs.
The current "stimulus" bill will be the largest spending bill ever enacted by Congress, making the New Deal look small, accounting for inflation.
The bill is full of wasteful spending, including $21 million on new sod for the National Mall in Washington, $600 million on cars for government bureaucrats, and $650 million for digital television converters.
(Do read more about the pork from this bill at
Ask Heritage.)