More Spending?

In response to this article in the Chronicle, I sent the following letter:
re:  Coming soon:  Second stimulus with another name

E.J. Dionne is convinced that the so-called "stimulus plan passed by Congress at the beginning of the year was not big enough," stating that "even $787 billion wasn't sufficient" to move the economy from job losses to job creation and turn around the current recession.  It would appear Mr. Dionne is not dealing in facts.  Regardless of whether or not one thinks that government spending provides any "stimulus" at all, it is important to recognize that according to the government's official website that tracks "stimulus" spending (www.recovery.gov), barely $100 billion of the $787 billion has been spent. 

Doesn't it seem fiscally irresponsible to advocate another round of government deficit spending — requiring either raising taxes or increasing the debt burden on future generations — when less than 15% of the original "stimulus" has been spent?

Sincerely,
Dave Smith
Houston, TX

 

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