Pelosi: Pass stimulus by mid-February - Seize the Day and Pass The Pork

In an era of multi-trillion dollar deficits, Nancy Pelosi and House Dems can't resist using the economic era as an excuse to push forward a massive pork bill (and while Obama does what?)

Just in off the AP wires:

House Speaker Nancy Pelosi pressed top congressional Democrats on Wednesday to pass a massive economic recovery bill by mid-February, a call tempered by new projections of unprecedented deficits ahead.

Pelosi emphasized the infrastructure and energy components of a massive stimulus package that Congress and President-elect Barack Obama are fashioning in response to the worst economic downturn since the Great Depression. The combined spending and tax cuts of the plan are expected to cost nearly $800 billion.

"Many will focus on the cost of it," Pelosi told the House Democratic Steering and Policy Committee. "While we are not discussing small sums, the bill is fiscally responsible because it will provide a fiscal dividend by returning 40 percent of the cost to the Treasury — at least that much in increased revenue."

Noting that the proposal will include spending on roads and bridges, clean energy technologies, expanded Internet access, and modernizing schools, she declared: "This is not your grandfather's public works bill."

No, it isn't. This is far more wasteful and insane. Borrowing to SPEND in an era of dangerous deficits is a very bad idea.


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