Larger Spending Cuts Would Help the Economy

“The $825 billion stimulus program cost hundreds of thousands of dollars per job, even based on the administration’s own inflated job estimates. Cash for Clunkers cost $3 billion merely to shift car sales forward a few months. The PPIP to buy toxic assets from the banks to speed lending generated just 3% of the $1 trillion that the program planners anticipated. And now? Mr. Obama proposes universal preschool ($25 billion per year), ‘Fix it First’ repairs to roads and bridges, plus an infrastructure bank ($50 billion), ‘Project Rebuild,’ refurbishing private properties in cities ($15 billion), endless green-energy subsidies, and a big hike in the minimum wage.”

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