Federal spending plans are tricky guesses

Stimulus Bill III -- the first rounds of massive government spending intended to shore up the sagging economy occurred last year -- is getting a full-court press from the Obama administration. The president himself has used visits to Capitol Hill, one-on-one chats with reluctant legislators, pep talks and cocktail get-togethers to get the votes needed for another $800 billion-plus -- and growing -- package.

Stimulus Bill I, if you recall, took the form of checks mailed to Americans last year in hopes they would immediately spend the money and keep the economy from faltering. Handing out $152 billion didn't work.

Stimulus Bill II was a hastily cobbled together infusion of $800 billion-plus in cash to be handed out to faltering institutions whose imminent failure was said to threaten not only the nation's economy, but global markets as well. About half that money has been doled out, and the credit freeze, mortgage crunch and consumer meltdown haven't improved much at all.

So let's add it up: The Big Three stimulus plans are costing in the neighborhood of $1.75 trillion (yes, with a T), and no one is sure the economy will be any better off as a result. But there is a certainty that such massive spending comes at a tremendous cost to future taxpayers.

What has many Americans more upset than anything about all this government largesse is the fact that, as with most legislation involving spending, representatives and senators are finding novel ways to add on pet projects that don't appear to stimulate anything. Yes, this pork is a minuscule percentage of the total. But in times of crisis, don't we expect Congress and the White House to come up with something that isn't tainted by even the least amount of money-grubbing?

We're left with few answers and two crucial questions: How can we afford all of this? And what if it doesn't work?