Spend It Or Give It Back And I'll Spend It.

Reading Alan Abelson‘s column in this morning’s Barron’s, I was struck by a statistic that represents a remarkable example of the inertia of government.

Abelson is relaying the assertion by Paul Kasriel that we should give the 2009 stimulus plan enough time to trickle through before enacting another costly program.  Fine, we agree.  But here’s the amazing part, he says it’s tough to tell whether or not the stimulus package was an abject failure or not because:

…only some 30% of the $580 billion allocated in that program has actually been spent.  All told, he reckons, 70% of the spending fiscal stimulus roughly 56% of tax-cut fiscal stimulus are still in the pipeline.

If that percentage is accurate, then someone needs to be clubbed like a seal and stripped of their rubber stamping authority.

Does anyone else feel like we’re 11 years into this recession already?  70% of last year’s stimulus funds sit in a pipeline while small businesses don’t know whether to make payroll or utility costs next month.

You need shovel-ready to get that cash out the door and into the economy?  Here’s a no-brainer for those in charge who are proving without a shadow of a doubt that they, in fact, have no brains…

SPEND IT.

Or give me back my portion and I’ll spend it.  And I spend money in local stores owned by my neighbors, avoiding chains selling Asian-made garbage whenever possible.  So get that money allocated and spent or shoot it back to the taxpayer who would be better at spending it anyway.

You guys are disconnected.

Source:

Jury’s Still Out (Barron’s)

Tags: , , ,

This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Wealthcast Media, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. For additional advertisement disclaimers see here: https://www.ritholtzwealth.com/advertising-disclaimers

Please see disclosures here.

What's been said:

Discussions found on the web
  1. pharma news india commented on Oct 20

    … [Trackback]

    […] Read More Information here on that Topic: thereformedbroker.com/2010/02/13/spend-it-or-give-it-back-and-ill-spend-it/ […]

  2. Ergobag commented on Nov 09

    … [Trackback]

    […] Here you will find 56518 more Information to that Topic: thereformedbroker.com/2010/02/13/spend-it-or-give-it-back-and-ill-spend-it/ […]

  3. Regression Testing Meaning commented on Nov 25

    … [Trackback]

    […] Find More Information here to that Topic: thereformedbroker.com/2010/02/13/spend-it-or-give-it-back-and-ill-spend-it/ […]

  4. monofilament wig commented on Nov 28

    … [Trackback]

    […] Info to that Topic: thereformedbroker.com/2010/02/13/spend-it-or-give-it-back-and-ill-spend-it/ […]

  5. td banking online commented on Dec 20

    … [Trackback]

    […] Find More Info here on that Topic: thereformedbroker.com/2010/02/13/spend-it-or-give-it-back-and-ill-spend-it/ […]

  6. mơ thấy thầy bói commented on Jan 05

    … [Trackback]

    […] Information on that Topic: thereformedbroker.com/2010/02/13/spend-it-or-give-it-back-and-ill-spend-it/ […]

  7. bmo online commented on Jan 12

    … [Trackback]

    […] Find More here to that Topic: thereformedbroker.com/2010/02/13/spend-it-or-give-it-back-and-ill-spend-it/ […]

  8. azure DevOps consulting services commented on Feb 05

    … [Trackback]

    […] Information to that Topic: thereformedbroker.com/2010/02/13/spend-it-or-give-it-back-and-ill-spend-it/ […]