The Democrats are at it again.With unemployment at 10% the President’s party is looking at fixing a problem the only way they know how, throw more money at it. Yes we are talking Porkulus II. The Democrats are working on a growing list of relief efforts, leaving for later how to pay for them (or whether even to bother).
Today the President gave some of his Ideas to bring unemployment down from the record levels. He wants to add $50 billion dollars to the more to the union labor only infrastructure projects on roads, bridges, and aviation. He would also offer consumers rebates for retro-fitting their homes to consume less energy. And that’s just the start. The President said there were many more ideas coming down the pike. Obama did not give a price tag for his proposals but pointed out that there is more wiggle room in the federal budget since the 2008 financial system bailout program will cost.
Before we look at spending any more dollars on a new porkulus plan, shouldn’t we look at what was done with the first one? After all its nine months after its passage and only around $200 billion of stimulus funding there are millions of Jobs lost and a bogus number of jobs gained.
Tom Coburn and John McCain have created a report of the 100 Dumbest Porkulus Projects proving that
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…..billions of dollars of stimulus funding have been wasted, mismanaged, or directed towards silly and shortsighted projects. Many projects may not produce the types of jobs that most Americans had hoped for or expected.
Some of the close to seven billion dollars in projects in Stimulus Checkup create few jobs; benefit private interests over the public good; or make improvements where they are not necessary. Some send money to companies facing fraud charges. Others take millions of dollars to do work local officials and experts admit are not needed or will not help.
As congress criticizes perks in corporate America we find out that:
Stimulus money has been, or will be, spent on dinner cruises, golf courses, puppet shows and stimulus road signs. Many Americans will question whether investing $787 billion in these projects are the highest national priorities.
Spending $25,000 for a puppet show may not seem like a big deal in Washington, for most Americans it is a lot of money. Washington, D.C. politicians blithely spend billions of dollars a week, but every dollar wasted is also a dollar borrowed—and a dollar to be paid back with interest in the future.
The full report is embedded below, if it wasn’t so serious it would be funny: