11.19.2009

Another showdown looms

The Democrats probably have the numbers in the Senate to pass Harry Reid's bill, having apparently bought off Mary Landrieu with some nice plump benefits to her state. Interestingly, some seem to be claiming that it would be better to spend more money and opt for the obviously budget-busting House bill instead of a budget that may be somewhere near fiscally neutral.

But here's the catch:
CBO also cautioned the bill includes "a number of procedures that might be difficult to maintain over a long period of time."

The Democrats' cost estimates of slightly below $1 trillion was considerably smaller than a House-passed bill's price tag of between $1.2 trillion to $1.3 trillion.
Remember, when you think "Democrats' cost estimates," think stimulus bill:
The Administration claims to have spent $2.4 billion in the state of Wisconsin, resulting in 10,073 jobs "created or saved." In the Wisconsin’s 1st Congressional District, taxpayers spent roughly $1.5 million per job. More troubling, millions more of your money has apparently been spent in six congressional districts that don’t exist. Despite promises of unprecedented accountability, it is unclear what has happened to the $1.2 million earmarked for the non-existent 55th Congressional District of Wisconsin, as the Badger State only has eight congressional districts. These false jobs claims are not only embarrassing, but further erode the trust between Wisconsinites and their federal government.

This exercise illuminates Washington’s fundamental error in its elusive quest for job creation: the belief that only greater government spending can generate jobs. Because every dollar Congress spends must first be taken from the economy, Congressional spending can’t grow the economic pie - it just redistributes the slices. Congress must recognize that real, sustained growth and job creation comes from the work, savings and investment of American families and businesses - not from the federal government.