On the one-year anniversary of the $787 billion stimulus scheme last month, Vice President Joe Biden said taxpayers had "gotten their money's worth" from the massive waste of tax dollars.
Biden said the program, now a year old, was designed to be implemented in two stages, saying "we've only been halfway through the act."
Or maybe we've driven off a cliff and are halfway to the bottom. Tom Schatz, president of Citizens Against Government Waste, is also skeptical.
(I)t is difficult to understand how multimillion-dollar "stimulus" programs that research methamphetamine's effects on rats, build turtle crossings under highways, put up roadside signs to advertise stimulus programs and produce few long-term jobs are effective uses of taxpayer dollars. In Washington, $977,346 is being spent on a program that will provide just one job and give a few hundred BlackBerrys to smokers to help them kick the habit...
While policymakers spent $389,357 researching malt liquor and marijuana use in Buffalo, N.Y., and $219,000 finding the relationship between casual sex and alcohol consumption, hardworking Americans lost their salaries.
CAGW's new website, mywastedtaxdollars.org, will compile the many ways Washington wastes stimulus money.
Schatz cites a study by George Mason University's Mercatus Center, which found that four of every five jobs created by the stimulus act were in the public sector, while 49 of every 50 jobs lost since the act passed were in the private sector.
More stimulus acts, now called "jobs" bills, are on the way, which may explain why Joe Biden is busy claiming that the first stimulus was a success.