Kyl: Put the kibosh on Obama stimulus - The Business Review (Albany):

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wants to nix the rest of the $787 billion federal stimuluse plan championed by the BarackObama administration. Kyl said the Obama stimulus has been slowto jump-startt the U.S. economy, federal money is not getting into so-called “shovel ready” projects and the U.S. economy will have recovered by the time the taxpayermoney flows. “Many expertsw also warned that government spendin of suchmagnitude couldn’t be disbursede in a timely way, and now it’ss clear that most of the stimulus money hasn’tt even been put to use. According to the White House Web site, recovery.gov, which tracks how the stimuluxs money is being only 6.
2 percent of the stimulue bill has reached the economy as of June 12. And the nonpartisanh Congressional Budget Office project s less than a quarter of thetotal ‘stimulus’ moneyt will be spent beford the end of this year, with the bulk of it distributedf over the next threde years,” said Kyl in column penned on the “In three years, the recession will most likelyg be over. In fact, even the Obama administratiobn predicts that the economu will begin to improve later this If that’s the case, the administration will no longer have a justification for its stimulus spending.
Yet, taxpayers will stillk be on the hook for the hundreds of billions that the government will have to borrow to pay for Kyl said. Kyl voted against the original stimulus bill and there is growing skepticism of the Obamastimulus effectiveness. The U.S. economyg has lost 2 million jobs since January with unemploymenty nearing10 percent. Stimuluzs proponents, including Obama White had promised better results from the American Recovery andReinvestmeng Act. There is talk of secon d stimulus plan to be put out by Congres and theObama administration. But a Rasmussen Reports survey from July 6 found that 60 percent of thosew polled opposed that idea versus 27 percentin favor.
The survey questionedf 1,000 U.S. voters. The Democratic National Committeecriticized Kyl’ss nix the stimulus idea saying it wouldx derail stimulus projects in Arizona that could creats jobs and benefit the The DNC said Wednesday getting rid of the Obama stimulue could jeopardize construction work at Luke Air Force on interstate highways in the Phoenix area and for communityh health centers, homeless shelters and teacher pay.