With the “stimulus” failing to work as advertised, Democrats having two primary ideas when it comes to economic difficulties, “borrow and spend,” are considering a second such package, despite a paucity of economists’ supporting such a proposal.
With “only 14 percent of the [package’s] $787 billion has been spent so far,” however, some of its defenders claim it hasn’t had time to work. If the President and congressional Democrats really believe that government spending will help lift the economy out of its doldrums, why then did they so calibrate the “stimulus” so that only a paltry percentage would be spent in the nearly five months since its passage?
I mean wasn’t the spending supposed to be “timely” (in addition to temporary and targeted)? So, here’s a plan, instead of doling out just a quarter of the “stimulus” money this year and instead of passing another plan to increase the national debt, why don’t Democrats just recalibrate the legislation already in place–and release the balance of the money this year?
Congress has already appropriated the money. If they believe spending is the key, well, then, just spend the money they’ve allocated. Shouldn’t that then provide the economy the needed shot in the arm, spurring it back to health and obviating any need for future such stimuli?