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NPR’s Tom Ashbrook Thinks “Not Much” of Reid’s $15 Billion Jobs Bill

Posted on February 15 2010 8:24 pm
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NPR’s On Point with Tom Ashbrook Weekly Roundup began with analysis of the current jobs bill before Congress.  The House presented a $150 billion jobs bill, the Senate presented a $85 billion jobs bill, and Harry Reid cut it back to a mere $15 billion.  Ashbrook set the stage for discussion by stating that whether you like the idea of a jobs bill or not, “…$15 billion does not look like much.”

His guest, Edward Luce, Washington bureau chief for The Financial Times, readily agreed.  But he did not think $85 billion or even $150 billion would do very much good, either.  Both Ashbrook and Luce scoffed at the paltry amount, a mere $15,000,000,000.  A billion dollars just doesn’t impress as much as it used to.

My memory is a little fuzzy, but didn’t we recently dump nearly $1 trillion into the economy to “save or create” jobs?  We did, and unemployment went up to 10%, where it has hovered since October ’09.  What’s worse, The Foundry estimates that the true cost of the stimulus is actually closer to $3.27 trillion! 

If dumping nearly a trillion dollars that we don’t have into the economy does not produce  a significant number of long-term private sector jobs, why in the world would anyone, especially members of Congress, even consider spending more money that we don’t have?  How stupid can you get?

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