This post is just a quick summary of what the spendulus bill actually does. The Heritage Foundation notes that the bill reverses welfare reform, threatens religious liberty and effectively federalizes health care.
Against the recommendations of the Congressional Budget Office, he will sign this bill. Despite returning the nation to a sea of dependency by completely reversing President Clinton’s welfare reform in 1996, he will sign this bill. Despite the threat to religious freedom cleverly disguised in the small print, he will sign this bill. Standing steps from the federal agencies he plans on doubling in size through cherry-picked liberal programs, he will sign this bill. Using an economic emergency to shield the liberal goal of federalizing your health care, he will sign this bill. And despite the overwhelming majority of Americans in poll after poll saying ‘no’ to this bill, he will say ‘yes’.
The National Review has more on the reversal of the welfare reform, which was passed by Newt Gingrich and signed by Clinton. Porkulus actually makes the welfare problem worse than before 1996.
Under the provisions in the stimulus bill, states will once again be paid a bounty for expanding their welfare rolls. As reported by Robert Rector of the Heritage Foundation, the federal government will now pay states 80 percent of the cost for each new family they sign up for welfare. That means that states will get $4 for every $1 they spend. This will leave the main welfare program, Temporary Assistance to Needy Families (TANF), with a funding mechanism similar to the one that supports Medicaid. As Brian Blase argues here, Medicaid’s funding ratio, which gives states $1 to $3 for every dollar they spend, has caused state Medicaid spending to skyrocket. If Medicaid’s dollar-for-dollar model has proved ruinous, Obama’s new $4-to-$1 ratio for welfare will prove, in all likelihood, four times so.
The Cato Institute’s blog explains how porkulus will balloon the budget deficit, and also how it is full of pork. According to the Tax Foundation’s Joseph Henchman, only about 24% of the bill is “tax cuts”, and not the good kind. Arnold Kling, speaking at a Heritage Foundation/Club for Growth event, argues that the right thing to do would have been to cut payroll taxes. Cutting payroll taxes would stimulate the economy. The Competitive Enterprise Institute notes that Cato assembled 200 economists who opposed the Generational Theft Act. CEI also notes that our current national debt is 11 trillion and that we owe 451 billion in interest per year, before porkulus even passes.
CNS News reports that the Generational Theft Act was passed without a single Republican or Democrat in the House or Senate reading it.
Sen. Frank Lautenberg (D-N.J.) predicted on Thursday that none of his Senate colleagues would “have the chance” to read the entire final version of the $790-billion stimulus bill before the bill comes up for a final vote in Congress.
“No, I don’t think anyone will have the chance to [read the entire bill],” Lautenberg told CNSNews.com.
Or, if you like video, you can see John Boehner’s disgust with the hiddenness of spendulus here. So much for “transparency”. The Democrats also broke their promise to allow the public to see the final version of the bill for 48 hours, before it was voted on. I highly recommend watching this 1 minute clip. At least the Republicans in the House did not provide cover to Obama. He will own the mess he created. Too bad the Democrats aren’t owning Clinton’s Community Reinvestment Act, which caused a lot of this sub-prime lending mess in the first place.
For details on what pork is actually in the porkulus bill, check out Tom Coburn’s list. (This may not reflect the last minute copy from Friday).