-- asks Ann Althouse in response to President Obama's new proposed infrastructure spending.
Quite aside from the problem of new taxes on business, what bothers me here is that Obama's old and extremely expensive "stimulus" package -- back in '09 -- was presented as a transformation of the "infrastructure" -- with lots of talk of roads and bridges -- but where are all those improvements we were gulled into thinking we were getting for our money?
Of the $840 billion spent on the "stimulus" here's how it breaks down ($100 billion not shown):
- $300 billion for tax benefits (remember those $400 tax credits?)
- $220 billion for entitlements (Medicare shortfalls, unemployment insurance...)
- $190 billion for contracts, grants, and loans (retaining teachers, etc.)
- $33 billion for infrastructure