Gateway Pundit sums it up beautifully: “These thieves are not only going to put your children and grandchildren in debt. They’re going to put your great-grandchildren and great-great-grandchildren in debt, too.”
U.S. leaders should be open to the possibility of a second stimulus package to jolt the economy out of a recession still causing job losses, House of Representatives Majority Leader Steny Hoyer said on Tuesday.
But in the Senate, Majority Leader Harry Reid was more skeptical of the need for more stimulus spending — an idea that rattled markets fearful that the economy is far from well and corporate earnings could suffer.
President Barack Obama led the charge for a two-year $787 billion stimulus package that his fellow Democrats who control Congress pushed through the House and Senate in February and he has argued it would help create or save up to 4 million jobs.
Despite continued large job losses, both Reid and Hoyer — who spoke at separate news conferences — said not enough time had passed since first package was approved for it to have the full impact on the U.S. economy, which has been in a recession since December 2007.
“It’s certainly too early right now … to say it’s not working,” Hoyer said of the initial stimulus package. “In fact we believe it is working. We believe there are a lot of people who otherwise would have been laid off, lost their jobs, who haven’t done that.”
Their logic on this is absolutely ridiculous. Allow me to demonstrate. We had been thinking of finishing our basement. Any reasonable estimate of that project would be at least $25,000, probably more depending on what we wanted to do with it. For various reasons, we decided to push the project off for a while longer, and instead we bought new furniture for the living room, a much smaller purchase.
Now, you tell me…did I save money?
No. Anyone with a quarter of a working brain can see that I did not, in fact, save money because I didn’t do the basement. Rather, I still spent money because I bought furniture. Just because I could have spent more doesn’t mean I actually saved what I didn’t spend. Get it?
This is exactly the standard they’re applying to saved or created jobs – just because they think it might have been worse, they’re crediting themselves for saving jobs!
And now they’re going to throw more taxpayer money down the craphole. You know, I would think that their own admissions of being clueless and botching the first stimulus would pretty much negate any credibility they have when proposing another one.
I suppose it all depends on how much Kool-Aid is still being passed around.
There’s my two cents.