Knit Lit

What are they thinking!?!?!?

I have been really, really bored lately, so I have been spending a goodly amount of time on Ravelry.  After a few days of looking at patterns I want to knit but can’t because of my hold on buying yarn, I decided to take a peak at the discussion boards of mygroups.  By far the most active is “The Bunker.”  During the election, it was the group of McCain/Palin supporters.  While I have been staying away from the news( I can’t stomach the fact that US citizens are now paying for abortions to be preformed all around the world.), my decision to boycott the news was confirmed when I came across a post that listed these facts about the new “stimulus” package that is making the rounds of our government.  (taken from the website of the US House of Representatives Office on Information Resources and the Committee on Appropriations)

Total Cost of Stimulus Legislation: $825 billion

  • How does this compare?

– In 1993, the unemployment was virtually the same as the rate today (around 7%). Yet, President Clinton’s proposed stimulus legislation *only* contained $16 billion in spending

– The total cost of this one piece of legislation is almost as much as the annual discretionary budget for the entire federal government.

  • President-elect Obama has said that his proposed stimulus legislation will create or save 3 million jobs. This means that this legislation will spend about $275,000 per job. The average household income in the U.S. is $42,000 a year.
  • This bill provides enough spending to give every man, woman, and child in America $2,700.
  • This bill will cost each and every household $6,700 in additional debt, paid for by our children and grandchildren.
  • Although this legislation has been billed and described as a transportation and infrastructure investment package, but only three percent ($30 billion) of this package is for road and highway spending.
  • Much of the funding within the proposed stimulus package will go to programs which already have large, unexpended balances. For example, the draft bill provides $1 billion for Community Development Block Grants (CDBG), which already has $16 billion on hand. And, this year, Congress has plans to rescind $9 billion in highway funding that the states have not yet used.
  • Deficit spending will not expand the economy. If that were true, then the current $1.2 trillion deficit — the largest in history — would already be rescuing the economy. $800 billion more will not change that.
  • Trade groups state that every $1 billion in highway “stimulus” can be spent creating 34,779 new construction jobs. But Congress must first borrow that $1 billion out of the private sector. The private sector then loses or forgoes roughly the same number of jobs.
  • Japanresponded to a 1990 recession by passing 10 “stimulus” bills over 8 years (building the largest national debt in the industrialized world). Their economy remained stagnant and their per capita income went from the second highest in the world to the tenth highest

Now,  I’m not the brightest bulb in the box, but I do have an understanding of mathematics.  Where I come from $6,700 is more than $2,700.  Why? Why would anyone think this makes any sense whatsoever?!?

Edited to correct the misspelling of mathematics because Hubby is a damn weirdo.  However, in my defense, I never claimed I could spell.

What is even more sad is that the bill (which is 675 pages long) is riddled with amendments and such that have nothing to do with the economy.  One is regarding the instillation of a database for our medical records.  When I read that section of the bill, I could not find anything that would allow people to “opt out” of having their records in such a database.  The supporters would say that there is no language that states people are required to participate either, but there is a provision that would limit or eliminate funds for those healthcare providers that do not go along with the program.

I don’t know about you, but my anxiety level has gone up 5 fold since January 20th.

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January 28, 2009 - Posted by | Election/Politics

1 Comment »

  1. my toenails are still painted black for I too am in mourning since the 20th!ARGHH

    Comment by cashmereandchocolatecake | January 28, 2009


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