This is generating a firestorm.
According to Congressional Budget Office estimates, a mere $26 billion of the House stimulus bill's $355 billion in new spending would actually be spent in the current fiscal year, and just $110 billion would be spent by the end of 2010. This is highly embarrassing given that Congress's justification for passing this bill so urgently is to help the economy right now, if not sooner.
That's 7% of the total earmarks (which is what they are really...). Well be out of the recession any day now, right? Add to this insult, Nancy Pelosi's incomprehensible claim that spending a 100 million on birth control will in fact stimulate the economy. Is hanging really out of the question for her? I'm getting the thumbs down.
Its bad. It looks bad and the Democrats know it looks bad, so they are now claiming that this is all a "Republican trick".
Reports of a recent study by the Congressional Budget Office, showing that the vast majority of the money in the stimulus package won't be spent until after 2010, have Democrats on the defensive and the GOP calling for a pullback in wasteful spending.Funny thing is, there is no such report.
"We did not issue any report, any analysis or any study," a CBO aide told the Huffington Post.
Well, it depends on the definition of "report". Partisan Democrats have taken to referring to the CBO reports as "not a real report".
the nonpartisan CBO ran a small portion of an earlier version of the stimulus plan through a computer program that uses a standard formula to determine a score -- how quickly money will be spent. The score only dealt with the part of the stimulus headed for the Appropriations Committee and left out the parts bound for the Ways and Means or Energy and Commerce Committee.
So there is a report after all, but the partisan hacks are saying that its wrong, incompletely, any damn thing they can to try to discredit it.
Frankly I don't even care if they are right about what has been left out--spending only 7% of what was left-in is criminal and people should hang. Oh, I'm getting the thumbs down on the hanging thing again...


