The federal “stimulus” was backed by Democrats as a way to “create or save” many jobs nationwide. Among those jobs were 3,100 positions supposedly created or saved at the Savannah River Site, a former nuclear weapons complex in South Carolina.
But $1.6 billion in “stimulus” funds that the site got for work to seal off reactors is starting to dry up. So the company managing the site is laying off 800 stimulus-funded employees.
That’s the trouble with government “stimulus.” It creates an illusion of economic development as “free money” floods into some project. But there is no guarantee the government-funded jobs will become self-sustaining with private-sector funds after the government cash runs out.
Just as bad, the “stimulus” added hundreds of billions of dollars to our national debt.
So it isn’t helping the unemployed as was promised, but it is piling on debt. Isn’t it obvious that Congress should not spend still more money on “stimulus” as the president wants?