Stimulus: Local Governments Frantic To Pay for Projects Fed Can’t Afford Without Debt

When local governments don’t have enough of their own tax revenue to run all the projects they want they just have to make cutbacks.  Road projects get delayed or cancelled, libraries get closed, sometimes even teachers and police get pink slips.

But the local government decides, just like a family, and prioritizes the local money based upon local needs and priorities.

Now we are in an emergency: so millions of programs we didn’t need before we’ll do because the locals have the federal Barack Bailout to make it so.  But all that federal debt-spending has a downside in possible inflation and repayment plans that would ruin a credit card holder…..

******

By Calvin Woodward
Associated Press

At least Route 31 is a road to somewhere.

President Barack Obama had it both ways Monday when he promoted his stimulus plan in Indiana. He bragged about getting Congress to produce a package with no pork, yet boasted it will do good things for a Hoosier highway and a downtown overpass, just the kind of local projects lawmakers lard into big spending bills.

Obama’s sales pitch on the enormous package he wants Congress to make law has sizzle as well as steak. He’s projecting job creation numbers that may be impossible to verify and glossing over some ethical problems that bedeviled his team.

Read the rest:
http://apnews.myway.com/article
/20090209/D968BMTO0.html

Related:
Economic Recovery: Try No Stimulus and Wait

Stimulus: Calls To Senate 8:1 Against; Political, Economic Toll Looms

U.S. Taxpayers Risk $9.7 Trillion on Bailouts as Senate Votes

Stimulus will lead to ‘disaster,’ Republican warns

 Stimulus: “93% spending and only 7% stimulation”

 Stimulus Dilusion: More Debt Spending Will Never Resolve Debt Crisis

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