Please, someone, tell me how our elected officials could have proposed and passed the $787 Billion Troubled Asset Relief Program (“Economic Stimulus” package) with incorrect or incomplete economic data?
Seems a bit unreal that the White House Administration admits that the most massive spending bill in history was designed (and implemented) with incorrect or incomplete data and not much has been said or written about that specifically.
Perhaps it really isn't the data but faulty projections derived from the data.
Maybe both.
Regardless, all elected officials have a fiduciary responsibility (both legally and ethically) to Main Street USA. And, Appointees bear the same.
That responsibility cannot be executed with incomplete or inaccurate data. Nor with inaccurate projections.
Regardless of where anyone wants to point the blame for our current economic plight (and I, for one, believe that both parties and many people and companies were involved), the actions taken in an attempt to halt the decline and reverse the direction need to be the absolute best that can be done.
And I do not want to hear a quip that this plan was implemented “with the best available information.”
We have at our fingertips whatever information we seek. And at the Presidential level, I would say it is bigger, faster, better, etc.
To be perfectly honest, I am not ready just yet to label President Obama’s huge spending bill a flop, as the Republican Party seems to be doing right now, according to reports, including Associated Press.
That said, the President’s overseas correction of Vice President Biden’s gaffe and the Administration's admission is making me start to wonder what will really be accomplished when the plan is in full force.
Then I would also like to inquire why we are operating with incorrect/inaccurate economic information and, since that admission was just made known, how long have the President and the Administration been aware of this issue?
Inquiring minds want to know.
Over For Now,
Main Street One
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