Stimulus cost more than expected

It is really not a surprise that the Congressional Budget Office numbers wound up a little north of congress and the president on the stimulus. The good news is the spending programs for shovel ready projects are coming to an end. The effects of the President Obama stimulus spending this past summer had a positive effect they claim as it supposedly raised the GDP, lowered unemployment, and increased the number of people with jobs. We were more impressed with the truth in the truth in the price tag. We can almost believe the first statements due to the next one. The CBO says the original price tag of $787 Billion is actually going to be higher for the 10 year period: $814 Billion spent into the economy 2009-2019. Since we have still nation wide unemployment ranging around 10% the idea was to keep it around 8% if it passed. The bottom line is we are another 814 billion in the hole over the next ten years which we will need to borrow every year just to stay ahead. This humble scriber said that we should have been giving American families a $2500 Visa card to spend on any items they wanted to grow the economy through purchases than shovel ready projects.

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