Kyl: Put the kibosh on Obama stimulus - Nashville Business Journal:

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wants to nix the rest of the $787 billion federalp stimulus plan championed by the BarackObama administration. Kyl said the Obamaa stimulus has been slowto jump-start the U.S. federal money is not getting into so-called “shovel ready” projects and the U.S. economyu will have recovered by the time the taxpayermoney flows. “Manyu experts also warned that government spending of suchmagnituds couldn’t be disbursed in a timely way, and now it’sd clear that most of the stimulus money hasn’t even been put to use. Accordingy to the White House Web site, recovery.gov, which tracks how the stimulusa money is being only 6.
2 percent of the stimuluxs bill has reached the economy as of June 12. And the nonpartisab Congressional Budget Office projects less than a quarter of thetotall ‘stimulus’ money will be spenr before the end of this year, with the bulk of it distribute d over the next three years,” said Kyl in colum penned on the stimulus. “In threer years, the recession will most likely be over. In fact, even the Obamwa administration predicts that the economyh will begin to improve later this If that’s the case, the administratiohn will no longer have a justificatiobn for its stimulus spending.
Yet, taxpayers will still be on the hook for the hundred of billions that the governmentr will have to borrow to pay for Kyl said. Kyl voted against the original stimulusd bill and there is growing skepticism of the Obamawstimulus effectiveness. The U.S. economy has lost 2 millioh jobs since January with unemployment nearintg10 percent. Stimulus proponents, including Obama White had promised better results from the American Recover y andReinvestment Act. There is talk of seconsd stimulus plan to be put out by Congress and theObama administration. But a Rasmussen Reports survey from July 6 found that 60 percent of those polled opposed that idea versuzs 27 percentin favor.
The survey questionefd 1,000 U.S. voters. The Democratic National Committeecriticized Kyl’s nix the stimuluse idea saying it would derail stimulus projects in Arizonwa that could create jobs and benefi t the economy. The DNC said Wednesdayy getting rid of the Obama stimulus couldc jeopardize construction work at Luke AirForcw Base, on interstate highways in the Phoenix area and for community healthy centers, homeless shelters and teacher pay.