Brian Riedl of The Heritage Foundation has ten questions about the “Economic Stimulus Bill.”
#10 Mayors have pledged to spend stimulus funds on items such as a mob museum in Nevada, a polar bear exhibit in Rhode Island, and curbing prostitution in Dayton, Ohio. As National Review asked, how come one Bridge to Nowhere is a national embarrassment and 1,000 Bridges to Nowhere are a “stimulus?” Given the 11,000 annual earmarks, why should taxpayers trust politicians to spend this money better than they would spend it themselves?
# 8 The economy sank because people over-borrowed for houses they couldn’t afford, and financial institutions over-borrowed for investments they badly misjudged. Washington’s solution is to borrow $800 billion that it cannot afford. How will adding $800 billion to the national debt (which will also raise interest rates) solve a recession created by imprudent borrowing? And who will bail out the American taxpayer when the bill comes due?
Why can’t we solve our current debt/economy problem by doing something reasonable, like selling California to private investors? (via World)