From an article entitled "Will the Stimulus Actually Stimulate? Economists Say No":
The compromise economic stimulus plan agreed to by negotiators from the House of Representatives and the Senate is short on incentives to get consumers spending again and long on social goals that won't stimulate economic activity, according to a range of respected economists.Well, what a shock. Knock me over from not being surprised. Be still my heart. Do you mean that Congress might just be spending this money for nothing?"I think (doing) nothing would have been better," said Ed Yardeni, an investment analyst.... He argued that the plan fails to provide the right incentives to spur spending.
Here's the game that Congress plays:
1) Point to an urgency ("crisis" is the nom du jeur). Don't stop to analyze. Don't stop to think. Just point to the crisis and shrug your shoulders because, hey, it's now urgent!Is it any wonder we have no confidence in government's ability to solve this problem? Well, maybe you do, but I surely don't.
2) Advertise ad nauseam through the all-too-willing media how much government must intervene to prevent further damage.
3) Cajole and threaten members of Congress who "aren't on board" into agreeing into passing a bill, excoriating anyone who doesn't agree for not wanting the "solve" the crisis.
4) Write up any kind of garbage that seems to fit the bill, but be sure to name it correctly (it doesn't matter what's actually in the bill, the name's the thing).
5) Add earmark upon earmark, pork upon pork, in spending, because hey, spending tax money is what Congress is all about.
6) Cajole and threaten any Congressional laggers.
7) Add more earmarks, because hey, spending tax money is what Congress is all about.
8) Add in your favorite social programs, being sure to hide them - not a difficult thing to do when the bill swells to over a thousand pages.
9) Muck around with the tax code a bit to make the code even larger and more incomprehensible than ever.
10) Promise to allow the public time to look at the bill, then renege on your promise. Point at the "crisis" and just srug your shoulders and wanly smile.
11) Throw in some last minute earmarks to reach closer to that all important trillion dollar amount, because hey, spending tax money is what Congress is all about.
12) Ship it off to the president, who dares not oppose the bill.
13) Pat yourself on the back for a job well done and fly off to Italy for a well-deserved vacation (paid for, of course, by the taxpayers since you insist it's a working holiday).
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