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American Recovery and Reinvestment Act of 2009 (view source)
Revision as of 14:05, February 4, 2009
, 14:05, February 4, 2009government spending plans do not stimulate the economy
Promoter of the measure say it is aimed at preventing the economy from "collapsing"{{fact}} and at "restoring it to normal."{{fact}} Conservative critics claims it will do little to help the economy and is filled with non-essential spending.
Promoter of the measure say it is aimed at preventing the economy from "collapsing"{{fact}} and at "restoring it to normal."{{fact}} Conservative critics claims it will do little to help the economy and is filled with non-essential spending.
{{quotation|But government spending plans do not stimulate the economy. They are based on the idea that feeding “new” money into the economy will create economic growth. But the money isn’t new—it’s either taxed or borrowed. It's essentially redistributed from one group of people to another, and no new money is created. [http://www.askheritage.org/Issues.aspx?ID=41] }}
The [[Congressional Budget Office]] says $347 billion more in interest will be the result, which brings the total plan over 1 [[trillion]] dollars. <ref>[http://www.foxnews.com/politics/2009/01/28/special-groups-line-piece-stimulus/ Special-Interest Groups Line Up for a Piece of Stimulus] Fox News, January 28, 2009</ref> According to the CBO analysis, timely spending of the money will be hampered by bureaucratic delays of up to two-years and the inability of state and federal agencies to efficiently and effectively spend the massive inflows of new money. <ref>[http://www.cnsnews.com/public/Content/Article.aspx?rsrcid=42725 Almost Half the Spending in Stimulus Bill Would Not Happen for at Least Two Years, Says CBO Analysis] CNSNews, January 29, 2009</ref>
The [[Congressional Budget Office]] says $347 billion more in interest will be the result, which brings the total plan over 1 [[trillion]] dollars. <ref>[http://www.foxnews.com/politics/2009/01/28/special-groups-line-piece-stimulus/ Special-Interest Groups Line Up for a Piece of Stimulus] Fox News, January 28, 2009</ref> According to the CBO analysis, timely spending of the money will be hampered by bureaucratic delays of up to two-years and the inability of state and federal agencies to efficiently and effectively spend the massive inflows of new money. <ref>[http://www.cnsnews.com/public/Content/Article.aspx?rsrcid=42725 Almost Half the Spending in Stimulus Bill Would Not Happen for at Least Two Years, Says CBO Analysis] CNSNews, January 29, 2009</ref>