Monday, July 20, 2009

Stimulus for those with lesser need

The only folks surprised by this are those that believed that the stimulus plan was a good idea. Those who thought it was actually going to help anything. With Michigan sitting at 15.2% unemployment, we're not experiencing much stimulation.

So, what was it that was actually done? Teh One promised us the bill included help for those hardest hit. He said it would help the poor and working Americans.

But has analyzed data tracking how the stimulus money is being given out across the 50 states and the District of Columbia, and it has found a perverse pattern: the states hardest hit by the recession received the least money. States with higher bankruptcy, foreclosure and unemployment rates got less money. And higher income states received more.

The transfers to the states having the least problems are large. Even after accounting for other factors, each $1,000 in a state’s per capita income means that the state got $21 more per capita in stimulus funds. With a spread of almost $38,000 in per-person income between the top and bottom states, this has a sizable impact. High-income states get considerably more stimulus money.

States with higher bankruptcy rates got a lot less, not more, money — roughly $86 less per person for each percentage point increase in the state’s bankruptcy rate. States with higher foreclosure rates were treated very similarly, losing $82 per person for each one percentage point more of the people suffering foreclosures.

Of course, Fauxnews, yada yada yada, I know libs will ignore this.

Basically, we’re talking about a pattern of pork distribution. States with higher per capita income levels and better economies produce better contributors, which get pork-barrel projects assigned back home. It underscores why we called this Porkulus — it’s not a stimulus package at all, but an omnibus pork-barrel bill sold as a stimulus by both Congress and the White House. It’s economic snake oil, and the only people getting rich off of it are the snake-oil salesmen.

Bill of goods. Thanks Nancy and Harry and Barack. Our grandchildren will thank you.