Congress is pumping money directly into the economy, but the bipartisan bonanza will end November 2nd.
Republican enthusiasts are spearheading this stimulus by a 7-1 margin of $80 million spent so far compared to $16 million at this point in 2006, with benefactors choosing anonymity far more than ever before.
Democrats may be catching up, raking in $16 million during September alone from small donations that could signify a stirring of the Obama base that has been bombarded with multiple e-mail requests for $5 apiece in recent months.
The irony here is that such relative pin money is being expended in a “debate” wherein both sides are treating the TARP bailout, which has just expired, as politically toxic, despite objective opinion that it kept the economy from going over a cliff.
What’s worse is that American corporations are now sitting on their biggest pile of cash in decades–$1.6 trillion–at the expense of retirees and other savers, who are getting nothing in return for the money they prudently saved over a lifetime, and failing to use any of it for job creation.
What’s holding the recovery back?