Apr 28 2010
The economy is finally starting to show small signs of improvement, but a recent study illustrates this is not due to the mad deficit spending of the Democrats in Congress & the White House:
The recovery is picking up steam as employers boost payrolls, but economists think the government’s stimulus package and jobs bill had little to do with the rebound, according to a survey released Monday.
In latest quarterly survey by the National Association for Business Economics, the index that measures employment showed job growth for the first time in two years — but a majority of respondents felt the fiscal stimulus had no impact.
This of course makes perfect sense. A vast majority of the ‘shovel ready’ stimulus money is still stuck in the bowels of the bloated federal bureaucracy:
As of the end of March, the government has made huge progress on the obligation front, as can be seen in the following charts (click to enlarge). 67.5% of the budgeted funds for these 6 organizations has been assigned projects. NASA has obligated 85% of its budget, Department of Transportation comes in second with 79%.
The first chart shows the actual dollar values for (moving left to right) the budgeted value, the amount obligated, the amount spent and the amount left unspent. The second chart converts the last three columns into percent of the budget (first column). But the government is failing miserably in the â€™spending on actual jobsâ€™ front. OnlyÂ 14.2% of the $105 billion budgeted for these 6 government organizations has been spent since the stimulus bill passed over a year ago, leaving 85% doing nothing.
Moreover, the money has been spent on short term, do-nothing projects like dog parks, bike parks, etc. Unlike across the board tax cuts and spending cuts by the government – proven to work by Presidents Kennedy, Reagan and W Bush – which immediately free up money to invest and grow the economy, the liberal sugar daddy plan has been a failure. It also only went to companies capable of performing government contracts and following government contracting laws – which is actually not a large number of companies when you look at the entire economy. Further, the money was limited to unionized companies, further reducing its effect.
We spent our children’s future and got nothing in return but another lesson why liberal fantasies only make things worse, not better.
Which explains a couple of recent polls quite nicely. It is 1994 all over again – and probably worse. First from Gallup (click to enlarge):
Note the ‘enthusiastic’ voters run 20% points in favor of the GOP (basically anyone but the Dems). Â This is NJ, VA and MA all over again. “Enthusiasm” = a strong need to throw everyone out of DC and start cutting back on the federal cancer invading everyone’s lives and ability to pursue their life of liberty and happiness.
But the GOP is not gaining in the current mood, it is simply hoped by voting out the Dems the new faces will do what the people want, and start dismantling the out of control federal behemoth. If the GOP had been seen as participating in this year of liberal madness, they too would be feeling the anti-incumbent heat
A third of registered voters are inclined to reelect their representatives in Congress, the fewest since the Republican Party rode voter discontent to control of the House and Senate 16 years ago, according to a new ABC News-Washington Post poll.
Nearly six in 10 said they’ll instead look for someone new come the fall elections.
I do believe the libertarian streak that runs deep across the entire conservative spectrum is what held the GOP coalition together (along with some defections from the Dems). So it was not pure political posturing that led the GOP to stay on the right side of history. But they too will be tested to make sure they follow that libertarian thrust and pull back government to its proper role and size, and allow the people to run America.