The House of Representatives passed the Obama economic stimulus bill today by a vote of 244-188. Every Republican in the House and 11 Democrats voted against the $819 billion measure loaded with pork projects and expanded government programs that many economists say will have little impact on the nation's economic woes.
Rep. John Boehner of Ohio, the Republican leader, said bill will create few jobs, but "it will create plenty of programs and projects through slow-moving government spending."
Remember how Obama blasted George W. Bush for deficit spending? The Obama bill will send the federal deficit into the stratosphere.
A GOP alternative plan to cut taxes on middle class families was defeated by the Democrats, 266-170.
The Obama plan consists of $544 billion in new federal spending and just $275 billion in tax cuts for individuals and businesses.
So how much will you get? A $500 break for single workers and $1,000 for couples, far less than the Bush "stimulus" checks sent out last year. That government handout failed to slow down the recession or keep tens of thousands of Americans from losing their jobs.
The Obama plan also includes tax refunds for those who don't earn enough to owe federal income taxes. There's another word for that: Welfare.
The only hope to restructure the Obama government expansion bill is in the Senate, but with Democrats holding a solid majority there, don't hold your breath.
Just keep printing more money until the dollar is worthless.
No comments:
Post a Comment