Heritage’s Rea Hederman discusses three problems with the proposed Economic Stimulus Bill currently before Congress. In July, the Bill was projected to cost $25 billion dollars. Since then, the projected cost has doubled due to spending projects that should have been taken care of with the Budget process. The Bill will also increase the already large national deficit. The most expensive items are proven failures. Hederman also points out sensible measures that Congress can do to help the economy, lower gas prices, as well as lower the cost of food …
This past week, Speaker Nancy Peolsi (D-CA) announced she wants to push another $50 billion in deficit spending through Congress for economic stimulus. This is on top of the $106 billion in stimulus payments the government is still sending out to Americans. This January Pelosi promised that the first $106 billion in deficit spending payments would create 50,000 new jobs. Former Treasury officials Ernest Christian and Gary Robbins report on how Pelosi’s promise turned out: By the end of June, $86 billion was in the hands of 105 million households. …
