Shining light into the dark corners of "stimulus"
Lately, it seems like everyone I know is lamenting the ongoing "stimulus" and "bailout" plans, concerned what the impact will be on the future. Will the present actions of government make things worse? Even some supporters of Obama are taking issue with the approach taken. Consider this little tidbit from Kevin Landrigan in today’s Nashua Telegraph as he previews a new study to be unveiled tomorrow that seeks to track and measure "stimulus" as it works its way through New Hampshire’s economic bloodstream:
A former Barack Obama supporter turned federal-stimulus-bill opponent will ramp up his campaign with a new executive director and 24-page report on the New Hampshire impact from the Washington largesse.
In February, Fred Tausch, 37, of Nashua, bankrolled $100,000 in ads to promote his effort known as Stimulating The Economy Without Accumulating Record Debt and created a STEWARD Web site, www.stewardofprosperity.org/meet/STEWARDS, to report on where the stimulus money is going in the state.
His staff hire for the expanded effort is Erin Abell, who started on John McCain’s 2008 presidential campaign team the last six weeks before the first-in-the nation primary vote.
[snip]
On Monday, the group will release results of an economic analysis study done by Brian Gottlob, who has his own Seacoast consulting business and produces an ongoing report on economic trends.
In the report, Gottlob identified more than $920 million in stimulus money already headed to New Hampshire.
Landrigan quotes from the study:
"These funds will not increase aggregate demand or stimulate job creation but they may preclude some job losses in state and local government.”
Phew! I know I’ll sleep better tonight! All kidding aside, I will be eagerly waiting to read this, and will be further watching this rather interesting group of "STEWARDS", as I am in full agreement with this as found on the "About Fred" page of their website:
Fred moved to NH because of its low tax structure which has no sales or income tax. Fred’s business experience has taught him that we don’t tax and spend ourselves into prosperity and he is passionate about preserving New Hampshire’s unique status as a smaller government and low tax state.
And this:
Just like TARP, the stimulus bill looks more like a bailout; not of big banks, but of irresponsible states. The stimulus bill contains over $200 billion for state and local governments. The politicians tell us this bailout will prevent state governments from having to raise taxes to make up for their shortfalls. Really? Who’s going to pay the taxes to finance the new government spending in the stimulus plan? The same hardworking families who would have to pay for the state shortfalls! New government spending–whether at the federal, state or local levels–is paid for by taxpayers. Period.
What’s worse, because the states in the worst shape will get a disproportionate share of the $200 billion, the bailout to the state governments will actually penalize those governors and state legislatures that have managed their budgets prudently and reward those who have mismanaged their finances. Why should New Hampshire taxpayers pay for California’s irresponsible borrow-tax-and-spend budgeting?
I’m not sure how Mr. Tausch ended up as a Barack Obama supporter, but it appears he’s seen the light and willing to put his money where his mouth is. Stay tuned…