George Bush hands 152 billion dollars to Americans in the form of $600 checks, $1,200 checks, and $300 dollar child tax credits.
Stimulus Bill 2.0 ( 2009)
Obama's stimulus intended to create or save 4 million jobs by spending 787 billion dollars. 499 billion dollars spent on federal contracts, grants, loans, entitlements, education, health care and 288 billion on tax cuts.
Stimulus Bill 3.0?
Read this wsj article and tell me they aren't sewing the seeds for another stimulus bill. Keynesian economics has a long history of failure yet we have no shortage of politicians around the world that keep trying it.
The House of Representatives is pushing a bill aimed at boosting employment, a potentially risky move that underscores Democrats' fears about the economy and jobs -- including their own as they head into an election year.
Elements of such a bill could run the gamut from infrastructure spending to small-business lending to extra aid for states and the unemployed, lawmakers said. Democratic leaders haven't determined any specifics -- including the politically dicey question of how to pay for it.
Rep. Chris Van Hollen of Maryland, who runs the House Democrats' campaign effort, said lawmakers were aiming for a six-year infrastructure bill that also could include energy-related investment.
So what happened to our last stimulus plan? Wasn't that supposed to rebuild our infrastructure? Small business lending, wasn't the separate bank bailout supposed to give them money to lend to small business? Bailing out state budgets, that's exactly what the last stimulus plan did. Aren't we in recovery, don't we have green shoots???
House Majority Leader Steny Hoyer (D., Md.) said he hoped to bring the bill to the House floor by mid-December, giving rank-and-file lawmakers a chance to vote just before the start of the 2010 election season, when control of Congress will be up for grabs.
"Clearly, 10.2% unemployment is unacceptable and is causing great pain to literally millions of people around the country," Mr. Hoyer said.
Right. Especially during an election cycle. So your solution is business as usual, keep spending money, throwing us into debt, and hoping for change. We've spent over a trillion dollars for stimulus thus far, but now we need more money. Forget that the implementation has been horrible, waste, corruption, mailing checks to dead people. Also forget the fact that WE DON'T HAVE THE MONEY, just keep spending money on a failed economic ideal.
America in the 30's had a New Deal, New New Deal, and it didn't work. The tax raising policies, the trade killing policies, the government paying people to destroy wealth led to over a decade of misery and ended with tens of millions of people killed in the worst war the world has ever seen.
Japan tried Keynesian policy as well and it didn't work out for them either. All they have to show for it is nearly 200% debt to GDP which puts their system at a competitive disadvantage.
The cure to a debt problem is NOT more debt.