Pres. Barack Obama was in Cincinatti yesterday to push for passing his jobs bill, which is really just the Stimulus on diet pills. At $447 billion, Obama’s proposal is just over half the $850 billion economic stimulus package of 2009. Like the original Stimulus bill, Obama’s jobs bill focuses on infrastructure.
Behind us stands the Brent Spence Bridge. It’s located on one of the busiest trucking routes in North America. It sees about 150,000 vehicles cross over every day. And it’s in such poor condition that it has been labeled functionally obsolete. Functionally obsolete. It’s safe to drive on, but it was not designed to accommodate today’s traffic, which can stretch for a mile.
If the Brent Spence bridge is in such bad shape, why didn’t it get fixed by the original stimulus bill? Why is Obama advocating for it as part of his jobs bill? Could it be, oh, I don’t know, the bridge links House Speaker John Boehner’s (R-OH-8) district with Kentucky, Senate Minority Leader Mitch McConnell’s home? Why, yes; yes it does. In his remarks, Obama said:
Mr. Boehner, Mr. McConnell, help us rebuild this bridge. Help us rebuild America. Help us put this country back to work.
Obama’s jobs plan focuses on construction, which had 13.5% unemployment in August, compared to 9.1% overall. The the President talks about putting unemployed construction workers back to work. Unfortunately, his jobs bill won’t help the right people. Jobs grew over the last year in every construction sector except residential; they’re not the ones who build bridges. And what about all the unemployed in other industries? Less than chickenfeed for them.
Considering its questionable effect, Big Stimulus was very costly with little benefit. Unemployment was at 7.3% before enacting the stimulus bill; it’s 9.1% today. The government reports stimulus saved or added about 2.4 million jobs which means taxpayers spent $288,000 on each of them. That equates to 976 weeks (almost 19 years!) of unemployment benefits at the averge US amount of $295 per week. Seriously?
Tell your Senators and Congressperson we cannot afford Stimulus 2.0. It’s too costly and it won’t fix unemployment.
Previously on the stimulus bill:
- Déjà Vu: Obama’s Jobs Plan is Just Stimulus 2.0
- In Detroit: Obama’s Jobs Plan? Just Stimulus 2.0
- Good Money After Bad
- Obama Going for Jobs Trifecta
- US Barrelling Toward National Debt Bubble
- Stimulus Money Not Helping Michigan
- Stimulus Improves Infrastructure. Not!
- Eyes Wide Shut: Stimulus Not Creating Jobs