In three of the last four years, Congress has combined all the outstanding appropriations bills into one large omnibus bill. Each omnibus bill was ridiculed at the time for forcing Congress to vote on a huge sum of money without a chance to split it up and thoroughly examine each line-item. The cost of those budget-busting bills were: $515 billion in fiscal year 2008; $464 billion in fiscal year 2007; and $388 billion in fiscal year 2005. Even those expensive spending bills are dwarfed by the new “stimulus” bill that …
MEET THE NEW STIMULUS, SAME AS THE OLD STIMULUS This weekend, a small group of Senators emerged from two days of negotiations to announce they had developed a compromise “stimulus” package that would eliminate wasteful spending and deliver on the original promise of the legislation. Unfortunately, not only is this not true, but the bill actually got bigger, with a final price tag $19 Billion more than the discredited House version; and it still does not contain any real stimulus. Here are the facts: SAME OLD SPENDING I Can’t Help Myself: …
The Congressional Budget Office (CBO) released a study on Wednesday, that estimates the impact of the Trillion Dollar Spending Plan being debated on the floor of the Senate this evening. They said “In the longer run, the legislation would result in a slight decrease in gross domestic product (GDP) compared with CBO’s baseline economic forecast.” That’s right, as a result of the current plan, the GDP of the United States would actually decrease according to the CBO. They go on to say that in the long run it will lower …
The American Option Introduced by Senator Jim DeMint (R-SC), the American Option Act proposes to aggressively and immediately lower taxes on businesses and individuals. Tax cuts will create rapid growth in wages and business incomes, which in turn will significantly help struggling sectors of the economy, i.e. Smart Stimulus. Consumer and government interest rates would be 5-10% lower making it easier for businesses to borrow and families to buy a home or refinance a mortgage. Smart Stimulus creates business investment of $254 billion in new buildings, equipment and infrastructure. Smart …
With countless news stories, papers, editorials and experts giving their view of why Congress should or shouldn’t enact the Pelosi-Reid-Obama Debt Plan, we thought it would be helpful to give you a short index of why spending does not equal stimulus. HIGH COST TO AMERICAN TAXPAYERS After Congress appropriates the FY’09 omnibus bill, they may have spent over $1.4 Trillion in less than one month! The current “stimulus bill” will be the LARGEST SPENDING BILL EVER enacted by Congress, making the New Deal look small, accounting for inflation. The “Stimulus” Bills Your …
