Someone should admonish the esteemed Republican members of Congress and conservative talking heads for repeatedly misrepresenting the stimulus package by suggestion it wont created jobs and/or most of the money is in the out years.
Last night on Fox:
Quote:
GINGRICH: In fact, the Congressional Budget Office said less than 25 percent of the bill related to stimulating the economy in the first year.
ROVE: We now know that more money in both the House and Senate versions is going to be spent in the years 2011 and beyond than in 2009. Think about that. We’re going to be spending more of this so-called stimulus money in 2011 and to 2019 than we’re spending in 2009.
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Yesterday, Reps. Lamar Smith (R-TX) and Patrick McHenry (R-NC) issued false and misleading press releases. Citing the CBO, McHenry complains that “over half of the money will be spent between 2011 and 2019″ and Smith says “only 20% of the funds will be spent in the first year.”
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According to the CBO report, the plan could be expected to create 3 million jobs in the first 18 months, with over 2/3 of the funds spent during that period and much of the remaining funds allocated beyond that time frame to support continued long term employment.
Not that I dont look forward to a better plan as a result of the current debate in the Senate. There is room for improvement before final passage, but not room to change the core approach...job stimulus does not require massive tax relief for the wealthiest taxpayers and the corporate sector.