By Adam Andrzejewski, CEO/Founder of OpenTheBooks.com, first published in Forbes Over the weekend, the U.S. House posted a first draft version of the “American Rescue Plan Act of 2021” – a $1.9 trillion emergency aid package to help America recover from the coronavirus pandemic. Previous legislation has already provided at least $4 trillion in funds for testing, paid […]
During the 2008 crisis, Fed has been printing tons of money and borrowed it out. Now if they increase the interest rate, how are people going to pay back this money? Without increasing rate already seemed like this money can’t be paid back. I think America is the biggest bubble in the history of man […]
Newscom Shocking new economic research has shown that receiving large gifts from the federal government is actually beneficial to states. That is not such a shock, is it? Another non-shock is that pro-stimulus journalists have misinterpreted studies to use them as evidence for national stimulus benefits. The studies are econometrically sophisticated, but stem from […]
Newscom In a series of campaign-style speeches, President Obama has laid out recycled economic proposals, which include yet another tax increase to pay for $50 billion in new infrastructure stimulus spending. This after Washington already spent $70.6 billion under the American Recovery and Reinvestment Act in 2009. The trouble is that Washington can’t afford more […]
Stimulus funds fed minority businesses that served as middlemen. WB Construction & Sons Inc. is a 10-employee, minority-owned firm that received $7.5 million in five stimulus contracts from the federal government, but it did not do close to that much work. Every one of the stimulus contracts it received followed a pattern: Win a contract […]
The top government watchdog for the Department of Energy has been asked to investigate a stimulus-backed Michigan battery plant where workers reportedly spend hours every day playing cards, watching movies and generally not working. FoxNews.com earlier reported that the LG Chem plant in Holland, Mich., which was approved for a $150 million federal grant, had […]
Often when policymakers introduce legislation in Washington, the title of the bill doesn’t always correspond with what the bill actually does. This is not one of those times. U.S. House Majority Whip Kevin McCarthy (R–CA) recently introduced the Domestic Energy and Jobs Act, which would greatly improve access to America’s resources, bringing jobs and much […]
House Speaker John Boehner famously dropped a copy of President Obama’s stimulus bill on the House floor during the debate over its passage, calling it a 1,100-page bill “that not one member of this body has read.” But the stimulus is only one example highlighted in Jerrol LeBaron’s documentary “Fools on the Hill,” which chronicles […]
President Obama’s reckless Stimulus spent billions of our tax dollars to create “green jobs”–in foreign countries like Mexico, Finland, and China. The American people deserve to know what’s going on–and that our tax dollars are being wasted on handouts to other countries, instead of creating jobs for 13 million unemployed Americans. With the DNC admitting […]
Does unprecedented deficit-spending such as on highways stimulate the economy? For the last few years, some have argued it could. Some have argued it might. Some have argued it would if done right. We have consistently argued that deficit spending on highways or anything else intended to lift aggregate demand, and therefore jobs, must and […]
