We’re pretty macho guys at IHTM, but this exchange scares the hell out of us.
Ranking House minority member Dave Camp (R-Michigan) quizzed Thomas Barthold, expert witness and Acting Chief of Staff, Joint Committee on Taxation, asking what benefits we’d get from the $1,000,000,000,000 stimulus bill.
Camp: Can you tell me, Mr. Barthold, how many jobs will be created as a result of this legislation?
Barthold: (gulps) Well, in short, Mr. Camp, uh…uh…I can’t.
Camp: So we don’t have an estimate on the number of jobs this would create, either private sector or public. We don’t have any estimate of the economic effect that this legislation might have on our economy, whether it would even create any growth in our economy at all. We don’t have that data before the committee today.
Barthold: (gulps, nods yes and shrugs)
Barthold’s “answers” made us weak in the knees. But contrary to rumors, we did not get the vapors. Not even close.
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