One TRILLION dollars

Today, Barack Obama signed the $787 billion stimulus bill. When you factor in the interest we'll pay, the total bill will significantly exceed $1 trillion. That's $1,000,000,000,000.

Wow.

At that price, the 3.5 million jobs saved or created will cost around $300,000 each. I don't see how those jobs will pay for themselves any time soon. It will take generations for us to pay that money back. I do realize that there is a spending "hole" in the economy, but this bill seems poorly thought out and wasteful to me. The non-partisan Congressional Budget Office agrees. They claim that this bill will hurt the economy more than if we passed no stimulus bill. That is troubling.

There is some good news: This economy now belongs to Barack Obama. No longer can he blame the Bush administration for the performance of the current economy. He wanted this spending bill and he got it. If it works, he will get the credit. If it fails, he and the Democrats will get the blame. Obama realizes this. He said as much in a recent speech. The time for excuses is over. Now we'll have to wait to see what happens. If the economy improves, the 2010 election could be good for the Democrats. If the economy continues to erode, though -- even after this massive spending bill -- the Democrats will have to face a lot of angry voters in the mid-term election.

In so many ways, the stakes involved with this bill could not be higher.

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Posted By: PopulistConservative - Category: No Category

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7 Comments. [ Add A Comment ]

Comment by S.L.

February 18th 2009 00:17

The Political Brief

The erosion has begun, PopCon. I've done several posts lately about little details that we weren't allowed to know. Things that will further weaken the economy and ruin previously strong businesses. Our rights are eroding even faster than the money. B.O. (B.S.) and his Democrats own this disaster, lock, stock and barrel. And I look forward to giving them their reward... unemployment!

Comment by PopulistConservative

February 18th 2009 00:23

Angry Electorate

SL, the mid-term elections are not far off. Already, candidates are lining up to run. Historically, the party that is out of power makes gains in the mid-terms (or so I've heard). Even if this bill helps (which I doubt), the gains may not be realized for a long time. That does not bode well for the Dems. Frankly, though, I'm just tired of the excuses. Obama had almost no history by which to gauge his efficacy. Now, he has a history. This bill -- the biggest spending bill in the history of the US -- will be a huge part of his legacy. We'll see how it works out.

Comment by S.L.

February 18th 2009 00:27

The Political Brief

Have you heard about the extras they added that will cost jobs rather than provide them, PopCon? It's a failure before it starts and already he's saying we may have to keep pouring money on problems rather than solve them.

Comment by PopulistConservative

February 18th 2009 00:40

Angry Electorate

The media seems to be asking a few pointed questions about it now. It's too late at this point. The check has been written.

Comment by S.L.

February 18th 2009 00:43

The Political Brief

And signed in the blood, sweat and tears of the American people.

Comment by Lester Caudill

February 19th 2009 10:48

Round Politics

I think the dems have gambled with our children's future, and our kids are the losers, we are no better off either. We will see what happens, but I don't think it's going to get better anytime soon.

Comment by PopulistConservative

February 19th 2009 18:40

Angry Electorate

You're right, Lester. The thing that bothers me even more than the expenditure is the waste in the bill. That is not a high level of jobs for that much money. The GOP offered up a plan that would've created 6 million jobs with a smaller bill. It was summarily ignored, though.

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