Dec

The Economic Horror Show: ‘The Son of Stimulus’

Witnessing the actions of the Democrats is like watching a horror movie. Except you can’t turn it off. Even if you tune out, eventually it’s all going to catch up with you.

Republican Whip Eric Cantor is calling the Democrats’ second stimulus plan “The Son of Stimulus.”

A few highlights:

1) Repeats Past Failures:

The Democrat package pours billions into the very same programs included in the original stimulus. In some cases, such as infrastructure, very little of the money from the first stimulus has even been spent. In other cases, where the money from the first stimulus has been spent, it has failed to create to jobs and/or been wasted. (See below for more details)

2) $150+ Billion in New Debt:

While Democrats claim that they offset their new spending with unused / repaid funds from the TARP program, under current law these funds are already dedicated to reducing the debt. As a result, each dollar of spending in this package will have to be borrowed—thereby adding to the national debt. (Note: As recently as June, President Obama stated that repaid TARP funds would be used to reduce the debt)

Click here for the full chart of the Democrats’ wasteful spending that’s putting our children in debt to China.

But Nancy Pelosi swears job creation and deficit reduction will be her first priority next year. What a joke!

I better go. I have to run up all of my charge cards past their limit so next year I can start being fiscally responsible. Wait ’til I tell my husband. He’ll be thrilled with my new financial plan for our household. But hey, even if we have nothing to leave our children some day, at least they won’t be on the hook for our debt. We can’t say that about the actions of Pelosi, Obama and Reid.

Addendum: But Pelosi did admit she’s in full campaign mode. Gee, who knew?

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