The Washington Post (that is not a misprint) explains how President Obama’s latest proposal is more of the same stuff that has not just failed to stimulate our economy, but that is stealing from our children by spending money we don’t have:
The $447 billion price-tag on the program puts the cost at more than half that of the stimulus package enacted by Congress in 2009 and reflects the severity of the challenge facing the nation’s economy. Last week, the government reported that job creation came to a halt in August and that the unemployment rate was stuck at more than 9 percent, a sign that the economy was at imminent risk of dipping back into recession.
Many economists say that the government needs to pump hundreds of billions of dollars into the economy to avoid another downturn. But with virtually all of the measures requiring congressional approval, there is little in the plan that can make an immediate impact. Some economists also warned that even if major tenets of Obama’s plan were to pass, overcoming deep Republican skepticism, it might do little more than keep the economy growing at a snail’s pace.
The centerpiece of Obama’s plan, at a cost of $175 billion, is an extension of and 50 percent increase in a payroll tax cut that is set to expire at the end of the year. Other major initiatives include an infrastructure program that would invest $140 billion to rehire teachers and first responders, modernize schools and rebuild roads and bridges.
And here’s the Romney campaign’s response.