Update: According to the CBO blog linked below, just $216 billion of the $825 billion package proposed by President Obama will be allocated by the end of 2010. Obviously this estimate is much higher than the $26 billion estimate which spread quickly online.
Of course, this allocation doesn't equate to actual government spending in the next two years, especially considering the lengthy government contract bidding process and the organizational inefficiencies commensurate with massive increases in funding--a reality specifically mentioned by the CBO Director.
Again, why not suspend payroll taxes and offer tax incentives to banks and private citizens, rather than swell the national deficit by nearly $1,000,000,000,000 and plunge headlong into the semi-socialism that has crippled economic growth in the UK and elsewhere?
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