1 Public Square (Just opposite Tower City)
Friday, February 27th
12pm-1pm
Why protest?
We have to send the politicians in Washington DC and especially our local US congressmen that voted for the American Recovery and Reinvestment Act (the Stimulus bill) a message. We are not happy with them having run roughshod over us, ignoring our concerns, and ramming this bill down our throats that will beggar future generations of Americans. If we just sit by, complacent and apathetic, nothing will change and the people governing us will continue to wreck our futures.
Stimulus Bill:
The president stated that there is “no disagreement that we need action by our government, a recovery plan that will help to jumpstart the economy." Well, that’s just not true, as the Cato Institute was able to find a few economists who disagreed:
The spending is neither timely, targeted, nor temporary.
- Why is that only a small portion of it will be spent right now?
- Congressional Budget Office has released a report saying that only 23% of it will be spent in FY 2009. Only 74% will be spent by the end of FY 2010.
- This is more an appropriations bill, not a stimulus plan.
- How will the following provisions stimulate the economy?
- $15 billion for expanding the Pell Grants
- $1 billion to for community development grants
- $4.2 billion for “neighborhood stabilization”
- $2 billion for federal child-care block grants
- $4 billion for job-training programs
- $650 million for Digital TV coupons
The list goes on:
A big chunk of the stimulus package is designed not to create wealth but to spread it around. It contains $89 billion in Medicaid extensions and $36 billion in expanded unemployment benefits—and this is in addition to the state-budget bailout
Didn’t President Obama say that the bill that passed has zero pork? Does the following not look like pork to you?
- $4.5 billion for U.S. Army Corps of Engineers
- $850 million for Amtrak
- $87 million for a polar icebreaking ship
- $1.7 billion for the National Park System
- $55 million for Historic Preservation Fund
- $7.6 billion for “rural community development programs”
- $150 million for agricultural-commodity purchases
- $150 million for “producers of livestock, honeybees, and farm raised fish”
The stimulus bill also supports protectionism, in the form of the Buy America provision, which has never been shown to have helped an economy. Senator Sherrod Brown is a huge supporter of this silly provision which states that capital goods must be bought from US suppliers, even if they are up to 25% more expensive than goods bought internationally. Protectionism has NEVER worked. When the Smoot Hawley Tariff Act passed in 1929, within 3 years international trade fell to a third of what it had been, and likely was responsible for spreading the Great Depression around the world.
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