Thursday, February 5, 2009

How will stimulus package fare in the end?

There has been a lot of talk on both sides of the aisle (and from the periphery too) about the massive stimulus package proposed by President Barack Obama and his legislative cronies (read Pelosi and Reid). As the package undergoes more and more examination, more concern is being voiced about the proposed billions of dollars in expenditures.

Today, The Hill is reporting that a coalition of Blue Dog Democrats (fiscally conservative Democrats) sent a letter to Speaker Pelosi complaining about the size of the bill. The Blue Dogs support an idea in the Senate to toss out much of the spending plan.

All of this occurs on the heels of Obama and Pelosi claiming it's imperative for the nation that the bill is passed as quickly as possible. Pelosi claimed if the package isn't passed, then 500 million Americans will lose their jobs - of course there's only about 304 millions Americans according to the census.

Regardless of Pelosi's gaff, the economy is in shambles. While it's as certain as spring following winter that some kind of package will be passed, how much will be in that final bill remains to be seen. But it's likely that much of the proposed $800 + billion will be removed, especially if fiscally minded lawmakers from both sides of the aisle work to make it so.

1 comment:

Erstwhile Editor said...

You mean "How will stimulus package FARE in the end?"

But good catch on Pelosi's hyperbole. I guess it just feels like 500 million jobs.