CEI - Bloated "Stimulus" Package Discourages Work

CEI Blogger Update

My colleague Hans Bader has written extensively on the poorly conceived “Stimulus Package” at CEI’s OpenMarket.org blog. The foolishness of Congress and the President is tremendous, especially considering the very things that got us into this recession (like cheap credit for housing)are being encouraged by the so-called stimulus. Here as his most recent posts along with some choice quotes:House Passes “Stimulus” Bill That Discourages Work

Michelle Malkin points out the the Senate version of the “stimulus” bill is even worse than the version passed by the House, containing a lot of welfare, and that even its less controversial components, like extension of jobless benefits, will discourage work and thus result in lower, rather than higher, economic output Deficit-Expanding “Stimulus” Package Grows

$150 billion is now being rejected as too small by Senate Finance Committee head Max Baucus. His plan would give out much more welfare benefits, and provide tax “rebates” to millions more people who don’t even pay taxes, than the House plan proposed. Larding Up the Bloated “Stimulus” Plan With More Welfare

The “stimulus” plan will give greatly expanded lending authority to Fannie Mae, the government-backed mortgage giant that engaged in Enron-style accounting fraud and helped create the housing bubble that threatens the economy with a recession. You can check out more posts by Hans here: http://www.openmarket.org/author/hans-bader/

Cheers, Cord Blomquist

Online Editor Competitive Enterprise Institute