History-Lesson: Dire Warning about 2009 "Stimulus" Spending Bill

A Note from Ed Feulner on the So-Called Stimulus

Thursday, January 15, 2009 at 4:00pm
Dear Friend,
President-elect Barack Obama is heading to Bedford Heights, Ohio, on Friday to lay out his plan to resuscitate the economy.He has said the only way to rescue the economy is for the government to spend hundreds of billions of your tax dollars. This is simply not the case. Instead, we need economic policies that encourage long-term growth, and with your help we can spread this critical message. Here’s what you can do to help make the case for common-sense, pro-growth economic policies:

· Get Out the Facts.
Warn your family, friends, neighbors, and whoever else you find appropriate about the dangers of “stimulus” spending.

· Alert Your Community.
Speak out in your community by sending letters to the editor of your local newspaper or calling in to local talk radio programs to explain the conservative alternative to big government spending.
These are the facts compiled by The Heritage Foundation’s experts:

· No New Jobs or Money.
The proposed $800 billion “stimulus” package would not put any new money into the economy. Every dollar lawmakers “inject” into the economy must first be taxed or borrowed out of the economy. Robbing Peter to pay Paul will not make us wealthier or create jobs.

· The Numbers Don’t Add Up.
President-elect Obama claims that spending $800 billion would create 3.7 million new jobs. That means taxpayers pay $217,000 per job! Even the average pediatrician or lawyer does not earn nearly as much as these new jobs would cost. It would be cheaper to mail each of these workers a $100,000 check.

· We Need a Plan That Works.
Policymakers need to pursue stimulus policies that work, not ineffective policies that push our country further and further into debt. An effective policy should extend tax cuts or make them permanent for individuals. It should also help businesses create jobs by reducing tax rates on employers so that they can better compete against foreign firms.
All of us at Heritage are doing everything we can to impress upon the President-elect and Congress the importance of resisting the temptation to blindly turn to big government as the answer, and we need your help to get that message out to your community. To find out more and to get Heritage’s latest work on economic recovery proposals, click this link:
Thank you for your support of The Heritage Foundation.
Edwin J. Feulner, Ph.D.
Click Here to Read M-J's Main Website, Elegant Survival

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