Remember that fast-acting stimulus package passed by Congress and signed by the president over three months ago? It was a package designed to jump start the American economy and put people back to work. The White House is reporting some 90 days since its passage only 3% of the historic $787 billion has been spent. Yikes!
Of the $28 billion already spent, more than half of that went to the states for medical assistance.
There remains $759 billion yet to be spent!
I'm all for Keynesian economics but its main thesis is to stimulate the economy. Three percent of the largest spending bill ever passed doesn't stimulate anything. It's a pretty practical matter really. The stimulus bill was a package designed to be spent. It won't work unless the money is spent. Very easy even for someone like me. I'm willing to suggest the biggest reason the money is not filtering quickly is the large bureaucracy currently in place. Way too many channels for the money to pass through. Or just maybe there aren't enough channels to filter the money through. Maybe we should pass another stimulus bill that designs the bureaucracy to pass the first stimulus money. Interesting if I do say so myself.
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When one man was contained and powerless outside his own country, he went after him and brought vengeance along for the ride. This is his story as only history can tell it.
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