The economy is still wretched after Dr. Obama's prescribed stimulus. Joe Biden, the effervescent Veep said today that the economy was worse than they thought. Maybe, when they described the economy during the election campaign as the worst since the Great Depression, they were just lying. Maybe.
From Investor's Business Daily: Of $157.8 billion "made available" under the stimulus, only $56.3 billion has been paid out — or 7% of the total $787 billion. And according to ex-Treasury Department economist Bruce Bartlett, "just 11% of the the discretionary spending on highways, mass transit, energy efficiency and other programs involving direct government purchases will have been spent by the end of this fiscal year."
Based on this, there are only two possible conclusions: One, the stimulus has been the most inept public waste of money in history. Or two, it was a cynical attempt by the Democrats to vastly expand the scope of government during a time of crisis. Or maybe it's both.
Probably both. Oh, and they want to do another stimulus, too. Brilliant!
Read it all, if you want.