Because we hate skyrocketing debt, the perpetuation of government failure and the economic impotence of the massive bureaucratic bailout that’s currently masquerading as an “economic stimulus” in South Carolina, we decided to approach one of its key milestones a bit differently than all of the pro-government news outlets.
For starters, we wrote a story shortly before Christmas alerting taxpayers to the fact that “stimulus” spending in the Palmetto State was quickly approaching $1 billion.
In case you missed that story, here it is.
Obviously, that enabled us to come back for another bite at the apple when stimulus spending, in fact, reached $1 billion – which it did Wednesday.
“Chomp-chomp.”
See what we did there?
We “doubled the trouble” for anyone peddling the fiction that additional bureaucratic bailouts will improve South Carolina’s economy, which after this massive infusion of federal cash is suffering from record unemployment, depressed income levels and a general malaise … well, except in the government sector, obviously.
Anyway, courtesy of S.C. Comptroller General Richard Eckstrom’s office, here’s where the state of South Carolina’s “stimulus” money has gone so far:
STIMULUS FUNDS BY STATE AGENCY (AS OF JANUARY 5)
- Dept. of Health and Human Services, $470,770,899
- Employment Security Commission, $183,470,546
- Dept. of Social Services, $109,586,677
- Dept. of Transportation, $71,269,961
- Dept. of Education, $38,618,358
- Dept. of Public Safety, $38,154,268
- Dept. of Commerce, $21,136,988
- Governor’s Office, $16,785,401
- State Treasurer’s Office, $14,626,849
- Department of Corrections, $11,960,631
- Budget and Control Board, $4,753,301
- Judicial Department, $4,000,000
- Dept. of Health and Environmental Control, $3,452,687
- Dept. of Probation, Pardon and Parole, $2,000,000
- State Library, $1,685,045
- Board for Technical & Comprehensive Education, $1,550,756
- State Law Enforcement Division, $1,066,927
- Lt. Governor’s Office, $743,634
- Forestry Commission, $574,329
- Educational Television Commission, $540,000
- Dept. of Natural Resources, $500,000
- Wil Lou Gray Opportunity School, $500,000
- School for the Deaf and the Blind, $500,000
- Archives and History, $500,000
- Arts Commission, $500,000
- Vocational Rehabilitation, $480,781
- Commission on Higher Education, $364,440
- Dept. of Agriculture, $250,000
- Law Enforcement Training Council, $120,000
- Attorney General’s Office, $39,576
Total: $1,000,502,054
Eckstrom, as he has been wont to do, used the occasion of the release of this data to offer his thoughts on the situation.
“Washington used the downturn as an excuse to spend borrowed money, much of it on things that have little to do with creating jobs,” he said. “Furthermore, we’ll not be the ones repaying the debt from this deficit spending. That will fall on our children and grandchildren.”
Yup … that pretty much sums it up.
As we’ve said all along, growing government never grows the economy, it only grows more government … and makes it harder for the economy to rebound. In a state like South Carolina (where government was already way too big to begin with), such an approach only exacerbates the problem.
What’s your take, though?
Loading ...UPDATE: As cited below, the picture we used for this story is from artist Michael Marcovici’s collection “One Billion Dollars,” which is a series of photographs he took of several pallets loaded with 10 million $100 bills.
Art: Michael Marcovici
By sclawboy January 6, 2010 at 4:09 pm
Where’s my cut?
By Billy Bob January 6, 2010 at 5:43 pm
You got it wrong on both sides of the equation. As much as there is wrong with the whole stimulus mess, the state would be much worse off without it. First, over 200,000 people wouldn’t be eating without money that went to the Employment Security Commission. In turn, hundreds of jobs would be lost in retail without this $$$ flowing through the system. Second, the $471 million to DHHS is mostly Medicaid. This money kept the hospital system functioning. Dozens of hospitals would be up the creek without this cash flow. This $$$ isn’t going to the people that can’t pay their hospital bills. It’s going to the third shift nurse and the man that empties the bed pan and the supplier that furnishes the needles and plastic tubing. And on and on with ALL the spending. And our kids won’t pay it back. WE will pay it back through inflation. NOBODY will ever pay it back any other way. The National Debt ALWAYS keeps growing. Ronald Reagan created over half of it in just eight years through “tax cuts”. Your stupid crap about cutting taxes is dumber than a rock. All that does is rob the buying power of the middle class and the top half of the lower class and the bottom half of the upper class. If you knew jack about economics your wouldn’t write this wishful thinking crap.
By T-Bone Clyborne January 6, 2010 at 6:18 pm
How come we didn’t get any phantom zip code cash like Virginia did? Or did we?
http://www.washingtonexaminer.com/opinion/blogs/beltway-confidential/Phantom-zip-codes-also-found-in-Virginia-80795072.html
By darth January 7, 2010 at 10:18 am
So Andre’s office took a bigger cut than Henry’s… curious.
Did Eckstrom say that the check cleared before these folks “Took the money and run”?
By John Maynard Keynes January 7, 2010 at 3:14 pm
I am so sorry I am to blame for this type of failed government interventionist policy. If only I would have just used common sense. Devaluing the value of paper money by creating more of it does nothing but take away purchasing power from the very people who created the wealth in the first place.Looking back, it is obvious that the notion of a government being able to “fix” a business cycle, or much else for that matter, is a grave threat to the fiscal health of our entire nation.