Stimulus Package Started Out at $56 Billion… Now It's a Trillion

Newsweek may be dying but at least they accomplished their mission.
Here is this week’s cover.


The Newsweek cover fits well with the ever-expanding Generational Theft Act that is being pushed by Obama and Democrats through Congress.
Like creeping socialism, the stimulus bill that started out at $56 billion will end up costing taxpayers and their children and grand children over a trillion dollars.
The Senate GOP sent out this history of the bill yesterday:

As The $827 Billion Spending Bill Continues To Grow, Taxpayers Remember When It Was A Much Smaller Proposal

POLITICO: “Senate Majority Leader Harry Reid (D-Nev.) and Senate Appropriations Committee Chairman Robert C. Byrd (D-W.Va.) today announced a $56.2 billion stimulus package.” (“Second stimulus announced,” Politico, 09/25/08)

CONGRESSIONAL QUARTERLY: “The House Friday passed a $60.8 billion economic stimulus package designed to pump money into infrastructure projects, unemployment insurance and Medicaid, but a similar measure failed to advance in the Senate.” (“House Passes Stimulus Measure; Senate Proposal Fails,” CQ, 09/26/08)

MCCLATCHY: “Washington is poised during the next 90 days to approve spending perhaps $100 billion to jolt the ailing economy.” (“Can a $100 billion stimulus save a $14 trillion economy?,” McClatchy, 11/09/08)

DENVER POST: “House Speaker Nancy Pelosi called for a new $150 billion economic-stimulus package today and suggested Congress may need to act this year.” (“Pelosi: New stimulus package needed,” Denver Post, 10/08/08)

WASHINGTON TIMES: “House Speaker Nancy Pelosi vowed Wednesday to hold a lame-duck session to pass a $200 billion economic-stimulus package likely to include rebates to middle-class taxpayers, despite recent failure to enact less ambitious plans and Republican charges it is a ‘spending hike to exploit the nation’s economic troubles.'” (” Lame-duck session eyed to OK stimulus,” Washington Times, 10/16/08)

WASHINGTON POST: “With fears rising that the nation stands on the precipice of a prolonged recession, House Democrats are contemplating a huge infusion of public cash — as much as $300 billion — to stoke economic growth by creating public jobs and padding the wallets of struggling consumers.” (“House Democrats Consider Large, New Economic Stimulus Package,” Washington Post, 10/14/08)

THE NEW YORK TIMES: “The programs will be a part of a larger economic stimulus package whose outlines are faint but which is expected to cost $400 billion to $500 billion.” (“Proposal Ties Economic Stimulus to Energy Plan,” The New York Times, 12/04/08)

MCCLATCHY: “President-elect Barack Obama and Democratic congressional leaders have agreed to a $500 billion economic-stimulus package that they want to move next month even before Obama takes office.” (“Obama, Democrats Agree to $500 Billion Stimulus Package,” McClatchy, 12/13/08)

POLITICO: “House Speaker Nancy Pelosi (D-Calif.) has increased the size of the economic stimulus package she will support when Congress reconvenes next month, saying it will need to be $500 billion to $600 billion.” (“Pelosi sees bigger, greener stimulus,” Politico, 12/12/08)

WASHINGTON POST: “Facing an increasingly ominous economic outlook, President-elect Barack Obama and other Democrats are rapidly ratcheting up plans for a massive fiscal stimulus program that could total as much as $700 billion over the next two years.” (“Democrats’ Stimulus Plan May Reach $700 Billion,” Washington Post, 11/24/08)

WALL STREET JOURNAL: “President-elect Barack Obama’s economic team is crafting a stimulus package to send to Congress worth between $675 billion and $775 billion over two years, according to officials familiar with the package…” (“Stimulus Package Heads Toward $850 Billion,” The Wall Street Journal, 12/19/09)

THE NEW YORK TIMES: “Ask just about anyone in Washington involved in the $800-billion-plus economic stimulus legislation churning its way through Congress and they will tell you it is a milestone — but without question the less expensive, and politically and technically less chancy, part of the Great National Bailout of 2009.” (“Spending More Than $800 Billion Is the Easy Part,” The New York Times, 02/08/09)
Hat Tip Larwyn

Photo of author
Jim Hoft is the founder and editor of The Gateway Pundit, one of the top conservative news outlets in America. Jim was awarded the Reed Irvine Accuracy in Media Award in 2013 and is the proud recipient of the Breitbart Award for Excellence in Online Journalism from the Americans for Prosperity Foundation in May 2016. In 2023, The Gateway Pundit received the Most Trusted Print Media Award at the American Liberty Awards.

You can email Jim Hoft here, and read more of Jim Hoft's articles here.


Thanks for sharing!