Saturday, February 14, 2009

Just What Does $789 Billion Buy You?

Congress has just passed the $789 Billion Dollar Stimulus Package. I've read several newspaper accounts and listened to the radio to figure out just what this buys you. The breakdown of what Congress approved is elusive to say the least. For example, General Motors apparently recieved a tax break, but sources variously report the size of the break from $3 billion, $7 billion, to $10 billion. A range of $7 billion is a bit difficult to fathom - especially since it relates to ensuring that GM need not pay a huge tax bill based on, yes you guessed it, GM's loans from the federal government a few weeks ago. I certainly don't begrudge my hometown company from recieving the tax break or the loans, but you would hope Congress would understand the fiscal ramifications of its actions.

Putting the merits of the spending bill aside, the troubling aspect is that no Congressmen apparently had the time (let alone the inclination) to read the final bill; and there was hardly a whisper of whether the package in any manner conforms with our Founding First Principles - such as limited government and equality. Those two First Principles clearly are tested by the stimulus package, but no one seemed to notice.

For more on why should be concerned about the application of our First Principles any government spending, visit:

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