Tony Olheiser, Published March 27 2009
Federal stimulus will not do the jobI did not want this “stimulus bill” to pass. Millions of people did not want this bill to pass. The bill has passed, and it is already in motion. It is too late to pull the plug. Stimulus money is being dispersed across the U.S. The only choice we have now is how we actually spend it. The money is there; now we have to use it efficiently.
This is not free money. We have a national debt approaching $10 trillion. Even without the stimulus, we have a federal deficit. The U.S. has to borrow this money in order to spend it. Borrowed money is not free, nor does it break even. Almost everyone knows the definition of interest. Those in Washington do not know the actual cost of these projects.
They were given estimates and appropriated the necessary funds. Some projects will cost more, some will cost less. It is up to the recipients of these funds to manage the actual cost. If it costs a recipient $1 million to achieve a goal, then spend $1 million.
If $2 million was appropriated, spend $1 million. Just because the available credit (borrowed money) is there, it doesn’t mean that you have to spend it. Get the most “bang for your buck” and then stop spending.
I urge all recipients to spend this money wisely. Spend the money where you need it. If you have any left over, do not spend it. Not spending money that you do not have is not considered “hoarding.” Maxing out your credit cards is considered “financial disaster.”
I opposed the “stimulus bill” because I have little faith that it will be used wisely. My opinion has been defeated. Prove my prediction wrong and I will shut my mouth. Make it work and I will eat my foot.