John McCain is an irresponsible, immature clown, and because he’s a clown, he tends to associate with other clowns, such as Tom Coburn. McCain and Coburn gave what they hope is a gullible media a list of the 100 worst projects funded by the American Recovery and Reinvestment Act (ARRA), also known as the "stimulus" Act. But every project on that list is likely better than what these clowns want to do with the same money.
To it’s credit, CNN at least took the trouble to check on several items on the clowns’ list. CNN discovered (no surprise) the clowns had misrepresented the facts; as CNN points out, the projects’ public purpose could have been discovered with a clarifying phone call or Google search. But clarity is not the clowns’ goal.
To be sure, as long as Congress allows itself to be bribed as the means to getting elected, there will always be programs funded by government that are foolish or less worthy than other projects that should have been funded under some concept of the public interest. So it’s appropriate for government watchdogs and the media to point that out how to improve government spending and avoid waste.
But that’s not what the McCain and Coburn clowns are doing here. They’re trying to muddy the waters about what stimulus spending is about so as to obscure the Republicans’ wholesale failure to do anything to help the economy recover — to obscure that they’ve done everything they can to wreck the economy. If they were to come up with a list of the 100 most worthwhile projects/programs that should have been funded to create jobs or economic growth, but were not funded under ARRA, then perhaps the media should take them seriously. But these men are not serious; they’re irresponsible clowns.
What’s really happening here is the Coburn/McCain clowns are implicitly conceding that if a project is worth doing, then stimulus spending for that project would have been worth doing as a boost to the economy. If that’s true, then the next question becomes, "notwithstanding the 100 questionable projects (many of which turned out to be worthwhile), was the bulk of the stimulus spending okay?" The clowns can’t tell us, because they haven’t asked the question.
Further, neither of these clowns provides us with a list of the 100 most deserving projects that should have been funded but which were left out. Where is that list? And why haven’t McCain and Coburn and friends offered legislation to fund those worthwhile projects?
But this is all diversion. The stimulus concept was worth pursuing even if the "projects" had little or no value beyond the spending itself. Increasing spending, getting that money into the economy, was the point. The selected projects merely tell us how much more value (or increase in GDP) could be "bought" from that spending.
So what would John McCain’s economic adviser, Mark Zandi, tell us? To be consistent with what he’s said for the last year or so, he’d have to explain that if you give a worker $100 to dig a ditch and another worker $100 to fill it up, that’s two jobs and $200 that will become stimulus spending that would not otherwise occur. If you funnel that $200 through a private contractor who pays the diggers/fillers, it’s the same thing.
So if you dig a million such ditches, and lay new sewer or water pipes to replace our failing infrastructure, that’s at least $200 million in stimulative spending. With a likely multiplier factor of 1.5 (Zandi and many economists agree here) that’s like $300 million in total effect on GDP that would not otherwise occur. Does America have $300 million, or $300 billion in projects that need doing? Try $3 trillion. Do we have enough unemployed or underused workers willing and able to do all those projects? Of course we do. So where’s your plan, McCain? Republicans? Obama?
And the question still stands: what would the GOP spend money on to stimulate the economy, if not what it was spent on? So far, the only "program" all Republicans have endorsed so far is a straight-up gift (via tax cuts) of borrowed money to the wealthy. The rich would no doubt appreciate such a generous gift, but Mr. Zandi would be obliged to tell his Senator that gifts to the rich have less (about 1/5 as much) of a stimulative effect than paying the otherwise unemployed to dig/fill in ditches, even without new water pipes.
Paying the ditch diggers has about five times the effect on GDP as gifts to the rich, because as Mark Zandi and every responsible economist agrees, the rich don’t spend as much proportionally as the otherwise unemployed workers. The multiplier for wealthy tax cuts (about 0.3) means that that proposal belongs on the clowns’ list of things you shouldn’t waste money on, when there are so many other better ways to use the same money.
If McCain and Coburn weren’t clowns, they’d have to agree with their economic advisers that to help the economy, we need more ditches, and other infrastructure spending, and more aid to states to pay teachers and firemen and police and renovated parks and restored waterways . . . and zero gifts to the rich. And recall that the total effective ARRA stimulus was only about $600 billion (over two plus years), while the increased deficit over a decade of extending Bush tax cuts for the wealthy would be over $600 billion. Now there’s a choice even clowns should get right.
John McCain could have been President; the Republicans want to take over Congress. But their economic/jobs policy is to withhold money from workers and teachers doing public works projects that need to be done and would help the economy now and in the future, and give the same money — as an outright gift — to rich people.
This is why America would have made a terrible mistake by making John McCain President, and why electing Republicans (or conservaDems who mimick them) in November would be equally foolish. We have enough clowns, and they’ve already wrecked the economy.
John Chandley



20 Comments

We need leaders who will Work for the benefit of the People and not these so called corporate personhoods who have all the money…
Can ya just think if Barbie doll of the North was VP??? Ahghgh!!
If they could shoot it or explode it, then it is not pork.
Then what would one call the Hogmonaut?
Oh wait, that’s a Russki thing, so it wouldn’t count. We would have to counter with Star Boars.
McCain thinks we should all do what he did to solve his money worries forever, marry drugged out rich blondes to bad daddy made Cindy get a prenup huh John? Otherwise you would be picking lettuce as no airline would ever allow you to fly.
It is a real tragedy that the Democrats are unable to articulate this, thus allowing a resurgence in the Republic Party.
McCain could you live on just your V.A benefits and what the average person gets for social security? Don’t you vote against raising V.A benefits whenever you can?
The GOP is doing their best to lose this election too opposing any thing to Punish BP might give us the Southern coast states if we have a hurricane. Hispanic votes they are gone. Cutting Social Security in a recession real crowd pleaser I am not sure just who is more stupid the Dems or the GOP.
Indeed, the GOP is doing that. They get away with it because the Democrats have no voice consistently covered by the media (forget Rupert News). The very bland Democratic leadership generates almos no media coverage, no matter what the issue is. Republic shouters rule the airways.
Agreed but both sides are trying to throw this election its like they both don’t want to run on changing to make things better. The Dems betray the Left and the majority. The GOP panders to a minority of hate and gives up the majority.
I lived in Japan in the late ’60s when it was emerging from the war and building an economy. They employed young girls to stand at the escalator with a clean cloth and hold it on the moving rail — all day. They employed elevator operators in automatic elevators. They employed street guards to halt the cars when the light changed to red and signal them forward when it changed to green. They did not regard ANY job as unnecessary or redundant if it helped to feed a family and give them consumer opportunities. Today’s politicians have no compassion or clue about helping people achieve dignity, buy food, or pay for shelter. Nor do they make the connection between such labor and the contribution to the economy. I blame the Rethugs mostly, but they have had a lot of help from so-called labor friendly Democrats. Any Democrat could make this case, but few are speaking up.
That’s an important history/observation. Unfortunately, the Japanese have fallen into a period of deflation from which they find it difficult to emerge, and we seem to be heading in the same direction, though the Obama advisers claim we’re not. We’ve seen lots of “happy talk” from Geithner and “who, me?” talk from Bernanke in the last two days. We might as well have ostriches as advisers.
emptywheel is upstairs!
Is the Government Using OFAC to Prevent Due Process?
iirc and Im not sure…I think CBS covered this clown story on the evening news…if so, it should be debunked.
Good post, I liked it. But someone tell me how they come up with like 2 jobs and spent $5m or some such thing? I think the dems actually said that on the web site but that is insane. If you spend money, someone gets paid that money that he otherwise would not get. So there are more than 2 jobs related to each millions of dollars spent. The dems let themselves into this trap and now they will have to deal with it.
In considering further gifts to the rich it should be pointed out that the economy is in its current dire straits precisely because the rich have way too much wealth and the rest of us don’t have enough. The logical outcome is lower consumption and a liquidity freeze. The government has two options: Put more money into circulation, and/or free up some of the wealth tied up by the wealthy. The latter is done by taxing the rich, making it much harder to export our jobs (no more “Free Trade” agreements!), and supporting the right of workers to unionize. (It’s no accident that during our most prosperous times taxes on the wealthy were high, unions were strong, and globalization lay in the distant future.)
Jon Walker is upstairs!
Michigan, Missouri and Kansas Primary Night Liveblog
I’d like to see a list of 100 amazingly stupid, wasteful and CORRUPT appropriations made in the two G.W. Bush terms, particularly including those that led to guilty pleas for corruption, bribery and so forth.
Unlike the previously mentioned list- it would stand up to scrutiny as it would be fact and crime based. Two possibilities follow:
Pallets of shrink wrapped $100 bills flying off to Iraq to be ‘lost’.
Duke Cunningham:
Link to above.
No. They believe if they don’t retake Congress, they will still make big gains, which they will call a ‘mandate’ to implement their nefarious plans. They are simply making clear what those plans are, so they can fulfill their promises.
Anybody else hear Ezra Klein on Rachel tonight (clip, it’s at around 11:25), discussing the Dems’ lose-lose choices on the expiration (tax increase!)/extension (deficit increase!) of the Bush tax cuts: “I expect them to fold completely.”
A talking point I would like to see is: with infrastructure expenditures at least our children and grandchildren, who are the poor schmoes that are going to have to pay for them, will actually be buying something with their money that will benefit them for the long term, rather than just giving up their future so that we, and primarily the wealthy, don’t have to pay as high taxes as we should. The wealth transfer going on, between future generations and present ones is monumental and multiples of the wealth transfers the right complains about when they are speaking of welfare. It really pisses me off on multiple levels. The fact that this is happening and the fact the Democrats are so silent/ignorant about it. The youth is there for the picking if someone would just talk straight to them.
I suspect the next generation(s) will curse ours for not funding investments they will need at a time — now — when it cost us and them so little. There has never been a better time to make these investments in our present and future. Then there’s that climate thing we didn’t invest in either. What a terrible legacy to leave your kids and grandkids.