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2/4/11

Associated Press: Republicans Can't "Raid" Obama's Stimulus Earmarks

Spinmeter: "Not much savings from stimulus money"

Is $5 Billion not much? Well it isn't the $45 Billion Republicans had promised but it's better than nothing. That's what AP says has not been spoken for in Obama's stimulus program and available to be cut.

(AP) "Congressional Republicans say they want to cut federal spending by raiding $45 billion from President Barack Obama’s politically unpopular economic stimulus program. But they won’t be able to get their hands on most of that money."

Cutting reckless spending is called "raiding" now?? Good thing they can't get their hands on that ridiculous debt-creation! Why doesn't Associated Press report on the Chinese and Indian jobs created by Obama's stimulus, at America's expense?

The money hasn't been spent but AP says is off-limits because it has been promised. AP admits that Obama broke his promise by not spending it right away on shovel-ready jobs:

It’s not that all the stimulus money has been spent; it has been committed for specific projects and programs. In the confusing money flow from Washington to the rest of the country, there’s still about $168 billion in stimulus money that has not actually been paid out, according to the administration. But it says nearly all of that money already is tied up in contracts with companies, obligations with states and local governments, promised taxpayer relief and commitments to government programs… The unspent money remains in the federal pipeline despite Obama’s promise that recovery spending would occur swiftly to stimulate the nation’s economy after Congress approved the program nearly two years ago.

Well I guess they kinda admit Obama lied, anyway. AP rejoices that the ridiculous spending by Obama was not raided. That would hurt the earmarks... err I mean stimulus legislation... err job creation:

"Rescinding these funds could halt job-creating projects years in the making where preliminary work in some cases is already under way."... Congress could go after some of the unspent money, although it would require undoing commitments made in the stimulus legislation, and no specific proposals have been offered to do that

Turns out the money isn't off limits after all. AP just wants the earmarks to go through.

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