See-Through Stimulus

18Feb09
Here’s how our tax dollars will be spent, as part of the new recovery package:
Here's how our tax dollars will be spent.

Face it. Many folks are unemployed, broke, facing foreclosure, or worse. That means there’s plenty of time in the day to visit www.recovery.gov and review the American Recovery and Reinvestment Act of 2009. You owe it to yourself, so you can get some rest tonight. President Obama, the people’s president, is really trying to spend all that money with “full transparency.” Don’t you want to know how you’ll be affected?

More than 1/3 of the recovery package covers tax relief. Frankly, we all would have been better served by allocating that money somewhere else–for even more jobs, rehabilitation of schools, teachers’ salaries, and health care. Roughly 11.5% of all Americans don’t qualify for the $400 tax cut anyway. Plus, 45.7 million Americans don’t have health insurance. Although there are still enough folks left to benefit from the tax cut, would you rather get a $400 check in the mail or get a new job with benefits and give your kids a free and good public education, so they can eventually secure gainful employment?

According to the Bureau of Labor Statistics, the current unemployment rate (Jan ’09) is 7.6%. The last time it was that high was Sep ’92. When Bill Clinton became president in Jan ’93, the unemployment rate was 7.3. When Clinton left office, the rate had dropped to 3.9. During the George W. Bush years unemployment rose again from 4.2 to 7.2.  It was worse during the Reagan years, however. In December 1982, the unemployment rate was 10.8!

GW left a hot mess for Obama to clean up. We’ll have to be patient. Yes we will.

Speak your peace.



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