Legal Commentary

An Inadequate $719B Stimulus Bill, With Unrelated $70B AMT Fix

By Big Tent Democrat

If it is a deal, then the Congress is preparing to pass an inadequate $719 billion stimulus, with an add on adjustment of the Alternative Minimum Tax that will have no stimulative effect. The size of this proposal, in addition to its composition, makes it wholly inadequate for the task. It is much much worse than the House bill. Some details:

Despite intense lobbying by governors, the final deal slashed $35 billion from a proposed state fiscal stabilization fund, eliminated $16 billion in aid for school construction and sharply curtailed health care subsidies for the unemployed.

Slashing the most effective stimulus proposed while including non-stimulative tax cuts is proof positive that this bill is quite a mess, with no purpose driving it. Some claim that this is the deal Obama always wanted. If they are correct, then that is probably the biggest problem we have, a President unwilling to take the bold necessary action needed to address our economic calamity.

Speaking for me only

Full post as published by TalkLeft on February 11, 2009 (boomark / email).