So why is the admininstration so pressed to allocate all of the near trillion dollar spend plan today, and why all at once?
According to those close to the matter it would take nearly three years to spend the money.
"The Congressional Budget Office estimated that about 60 percent of the funds would be spent from 2009 through 2011.
Even Atkinson, who said that forecast is too pessimistic, said it will take time to ramp up spending."
Look what happened to the $750 Billion TARP money. At least some in Congress had the good sense to stage the funding in two $350 Billion traunches denying Paulson's request to get all the money in one shot. The two step process was wise because it is widely recognized that the TARP I funds were spent without the management oversight, transparency and accountability now needed for TARP II.
Why not trim this bill down and focus on the portion of funds that can be spent over the next 18 months. Don't repeat the same mistake as TARP - learn from the experience!