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Friday, January 23, 2009

Obama's Stimulus Plan Won't Work

Democrats tried to mitigate the impact of a Congressional Budget Office study that questioned administration claims that the money could be spent fast enough to reduce joblessness quickly. - FOX News

"I recognize that there are still some differences around the table and between the administration and members of Congress about particular details of the plan," Obama said as he sat down with the House and Senate leaders from both parties in the White House's Roosevelt Room.

"But what I think unifies the group is recognition that we are experiencing an unprecedented, perhaps, economic crisis that has to be dealt with rapidly," he said.

Many Republican lawmakers say the $825 billion package is too costly, and that too much of the spending is for long-range projects that won't aid the economy quickly. Some economists say the package should be even bigger, however, and it was unclear whether Republicans would have much impact. - FOX News

Many experts have said that this Stimulus Package which is actually expected to cost more than $1 Trillion, won't have much of an affect on the economy at all. It is more of just a spending bill. Much of the spending will take place over the next 2-3 years and won't have much if any affect on getting the economy moving. Obama and the Democrats appear to be pushing this spending bill through under a smoke screen of a Stimulus Package to help the economy.

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