Why Obama's stimulus is a big bad idea

Jonathan Garthwaite
|
Posted: Jan 20, 2009 9:45 AM
It will take years to have any effect.
Overall, only $26 billion out of $274 billion in infrastructure spending would be delivered into the economy by the Sept. 30 end of the budget year, just 7 percent. Just one in seven dollars of a huge $18.5 billion investment in energy efficiency and renewable energy programs would be spent within a year and a half.

And other pieces, such as efforts to bring broadband Internet service to rural and underserved areas won't get started in earnest for years, while just one-fourth of clean drinking water projects can be completed by October of next year.

It will take years to go into effect and by the time it does it will actually be a bad thing -- causing massive inflation.