Less than 24 into the right's most recent anti-stimulus marathon of cherry picked stats and facts it appears as though it was much ado about nothing.
Starting at the crack of dawn this morning the GOP started their blitzkrieg ambush on the talking head shows reciting every line from this mysterious CBO report on the proposed stimulus package.
As it turns out, they dug up this report from a wildlife reserve that features unicorns, yetis, Dodo birds, and bigfoot.
HuffPo
Reports of a recent study by the Congressional Budget Office, showing that the vast majority of the money in the stimulus package won't be spent until after 2010, have Democrats on the defensive and the GOP calling for a pullback in wasteful spending.
Funny thing is, there is no such report.
"We did not issue any report, any analysis or any study," a CBO aide told the Huffington Post.
Rather, the nonpartisan CBO ran a small portion of an earlier version of the stimulus plan through a computer program that uses a standard formula to determine a score -- how quickly money will be spent. The score only dealt with the part of the stimulus headed for the Appropriations Committee and left out the parts bound for the Ways and Means or Energy and Commerce Committee.
So basically, this was a study on one portion of the plan and not the entire plan as the GOP flop-sweaters are making it sound like. All of their facts and figures are likely 50%-60% larger than they are making them out to be. So when they keep screaming about how "only $X are going to be spent within the next year!!!!!" not only is X way smaller than they are claiming, it's very disingenuous. Basically they are only counting the money that the physically leaving the bank account and not the amounts committed to the projects.
(Example: City is building a $1 billion bridge that will take 5 years. By the GOP's logic, only $200 million will be spent within the next year. Nevermind that the $800m left is just as important to keeping people working as the $200m of "spent" money.)
Also, earlier today we had Rep. Cantor (R - Dead End) repeatedly flip-flopping "DC Mall Renovation" and Small Business benefits.
This means that they are not only cherry picking figures, but they are just flat out making stuff up. These clowns truly have no shame.