Three contractors are bidding to fix a broken fence at the White House. One is from Montana, the second is from Tennessee, and the third is from Chicago. All three go with a White House official to examine the fence.
The Montana contractor takes out a tape measure and does some measuring, then works some figures with a pencil.
"Well," he says, "I figure the job will run about $9000. That's $4000 for materials, $4000 for my crew and $1000 profit for me."
The Tennessee contractor also does some measuring and figuring, then says, "I can do this job for $7000. That's $3000 for materials, $3000 for my crew and $1000 profit for me."
The Chicago contractor doesn't measure or figure, but leans over to the White House official and whispers, "I'll do it for $27,000."
The official, incredulous, says, "You didn't even measure like the other guys. How did you come up with such a ridiculously high figure?"
The Chicago contractor whispers back, "$10,000 for me, $10,000 for you, and we hire the guy from Tennessee to fix the fence."
"Done!" replies the White House official.
And that, my friends, is how the Government Stimulus plan worked.
"Well," he says, "I figure the job will run about $9000. That's $4000 for materials, $4000 for my crew and $1000 profit for me."
The Tennessee contractor also does some measuring and figuring, then says, "I can do this job for $7000. That's $3000 for materials, $3000 for my crew and $1000 profit for me."
The Chicago contractor doesn't measure or figure, but leans over to the White House official and whispers, "I'll do it for $27,000."
The official, incredulous, says, "You didn't even measure like the other guys. How did you come up with such a ridiculously high figure?"
The Chicago contractor whispers back, "$10,000 for me, $10,000 for you, and we hire the guy from Tennessee to fix the fence."
"Done!" replies the White House official.
And that, my friends, is how the Government Stimulus plan worked.
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