Obama Stimulus Won't Include Earmarks, Biden Says

Wall Street Journal:

Vice President-elect Joe Biden released new details on the incoming administration's planned stimulus package, saying 85% of the three million jobs to be generated would be in the private sector and that no pet projects of lawmakers would be accepted.

Mr. Biden met Tuesday with the Obama administration's economic team as they closed in on a final price tag and set of programs for what will be the largest economic-stimulus proposal since the Depression. The Obama team has been releasing details for a week, in an apparent bid to appear engaged as the economy deteriorates. Senate Democratic leadership aides said the package should be unveiled on or around Jan. 1.

"Without substantial policy action, we would almost certainly face the worst economic downturn since the Second World War," Lawrence Summers, who is slated to head the National Economic Council, said ahead of the meeting. "That's why it is imperative that we take action to maintain demand, to maintain jobs, to maintain incomes."

Read the whole story: Wall Street Journal

Comments

[paulfree17]

I am a bit confused. An earmark is a project desired by a legislator for his or hew own district and for which money is specifically set aside in the legislation.

If that is the case aren't all public works projects a form of earmark? After all I if we are going to build a road or a bridge then I am sure that someone wants that road or bridge built. If we are going to rebuild schools then congressmen will have to decide where to build them.

If we just appropriate money without "earmarking" where it will go then we have the problem we have with "TARP" which is no accountability or controls over how the money is spent. I would think that any appropriation of public funds without knowing how it will be spent is a very bad idea. We should not be giving blank checks to anyone in the public or private sectors.

[LizM]

It's ok, paul, it will come to you in time.

[ApolloSpeaks]

Paul, you've hit the nail on the head. Obama's stimulus program is all pork.

[paulfree17]

What I am saying is that money given to stimulate the economy needs to be strictly accounted for. I am not saying it is not necessary. One can argue that all government spending is pork including money given to Haliburton on no bid contracts or Blackwater to do a job the State Department should be doing.

Let's face it. Our attitude is "If it benefits my district it is an investment, if it benefits your district it is pork"..

[atlantajoe]

This from the gut that says '' Three letters, JOBS ". The dems also said earmarks would be transparent under them, did not happen. The fact is the stimulis package will be nothing but pork.

[86masters]

And you can't spell stimulus.

[Culturemaven]

Maybe that's the plural of stimulus?

[zendem1]

Wonder why trolls like this still show up?

[Archontruth]

God knows I admire Job Biden, but I wonder if he spent his Senate career asleep when he says stuff like this. Does he truly believe that his fellow Dems, especially the ones representing hard-hit states and districts, won't do their best to slip in a little money to try and help their constituents back home? I can just envision Biden trying to talk Byrd out of moving the Navy headquarters to West Virginia right next to the Coast Guard.

[ApolloSpeaks]

You wonder if Biden's been asleep? He talks with his eyes half closed.