Obama calls on Congress to approve $21 billion infastructure, a.k.a. stimulus plan
posted at 5:11 pm on March 29, 2013 by Erika Johnsen
Ugh. Here we go again:
“There are few more important things we can do to create jobs right now and strengthen our economy over the long haul than rebuilding the infrastructure that powers our businesses and our economy — our roads, our bridges, our schools and our ports like this one,” President Obama said. …
The president outlined his infrastructure spending plan, called the “Rebuild America Partnership,” which consists of three components – the creation of a $10 billion national infrastructure bank, the establishment of new “America Fast Forward Bonds” for infrastructure investment, and the expansion of funding for the TIGER and TIFFIA infrastructure programs. …
Alan Krueger, chairman of the Council of Economic Advisors, said the program will total $21 billion but vowed that it would not increase the deficit. Details of the costs of the program will be outlined in the president’s budget, which will be presented on April 10.
More smile-for-the-cameras, Congress-really-needs-to-get-on-this, been-there-done-that (and it didn’t work the first time) government spending proposals that won’t do anything to drive economic growth. Perfect.
“There are few more important things we can do to create jobs right now and strengthen our economy over the long haul” than infrastructure spending? Er, really? How about reducing the overall regulatory burden, lowering taxes and simplifying the tax code, expediting oil-and-gas permitting, trimming the bureaucracy, dismantling ObamaCare, etcetera? Yeah, I’d rank all of those pretty highly on the economy-strengthening scale.
And just for fun, let’s pretend that, sure, this proposal won’t add to the deficit in any shape, manner, or form. Okay, but instead of just not adding to the deficit, how about we focus more on — oh, I don’t know — drastically reducing the deficit? Anyone?