A new fire station at Piedmont Triad International Airport would not have been possible without federal stimulus funds, a PTIA official said. In High Point, several street and sewer improvement projects and energy efficiency measures and funding for housing and community development projects would not have been possible or would have been delayed significantly longer without stimulus grants.
So, cash is flowing, although reports indicate that only about a third of the stimulus package total has been spent so far.
An Enterprise series Sunday and Monday, reported that, as expected, politicians still are arguing about the stimulus money’s impact, eight months after the act was approved. Democrats cite some indicators of an improved economy while Republicans focus on continued high unemployment rates.
But the stimulus plan’s greatest impact will be felt long in the future – the pain of accounting for the money being spent right now. Whether the federal government decides to print more money, borrow more money or raise more taxes to pay off this spending spree, the impact will be felt. That’s why members of Congress and the administration now should begin thinking about reining in stimulus spending plans.
Perhaps President Obama was correct that a spending boost could help the economy instead of simply letting it adjust itself. But Republicans in Congress certainly were correct that the nearly $800 billion package was excessive. Just as High Point officials were wise to use stimulus money for one-time expenditures, federal officials should be wise and begin turning off the spigot to lessen the long-term damage that this planned overindulgence will produce.


