Wednesday, January 28, 2009

So This is what "Increased Government Spending" looks like...

The proposed economic stimulus that’s currently sitting in Congress waiting for votes is, by any measure, huge. The New York Times reports that the bailout promises to reshape government roles in both education and healthcare.

Education:
"The proposed emergency expenditures on nearly every realm of education, including school renovation, special education, Head Start and grants to needy college students, would amount to the largest increase in federal aid since Washington began to spend significantly on education after World War II."

And healthcare:
"As Congress rushes to inject cash into a listless economy, it is setting aside many of the restraints that have checked new domestic spending for more than a decade. The White House said the changes contemplated by Congress would provide coverage for nearly 8.5 million newly uninsured people who had lost their jobs and would protect Medicaid for many more whose eligibility would otherwise be at risk.

Of the $127 billion cost, the Congressional Budget Office said, $87 billion would be used to increase the federal share of Medicaid, $29 billion would subsidize private insurance and $11 billion would finance Medicaid for unemployed workers who could not otherwise qualify."

This is the first in-depth look many non-experts have had at the bill, and even for someone who wholeheartedly supports Obama and the bailouts, these numbers are just enormous and give one pause. Doubling the federal budget on education? Providing 8.5 million uninsured people with insurance? Incredible.

I’ve been so used to government refusing to spend more money on education and healthcare for the past 8 years that these statistics are a bit shocking. I hope the Democrats know that they’re talking about. If not, we’re all in trouble.

No comments: