By Peter Ferrara,American Spectator
Obama on Capital Hill to pressure Republicans
Barack Obama and Congressional Democrats are playing the voters for fools with the so-called stimulus package. The massive $825 billion package is not even targeted on programs to stimulate the economy. Instead,it is laced with runaway government spending for increased welfare,overgrown bureaucracy,pork,political payoffs,and other waste. That runaway spending is causing record smashing deficits of $1.5 trillion or more,equivalent to over 50% of the entire federal budget for fiscal 2008.
For example,the “stimulus”package includes $50 million for the National Endowment of the Arts to help “the arts community throughout the United States.”Wouldn’t want our economy to get behind in the international arts competition. The government is going to borrow $50 million out of the private economy to spend on this,which will result in a net loss of economic output rather than a net gain.