The nearly $900 billion (remember when $350 billion was expensive?) economic stimulus package, aka the Pork Package set forth by Democrats cleared the House and heads to the Senate with zero Republican support. If signed into law it would push federal debt to levels not seen since WWII. With support for many social programs, many have complained that much of it will do nothing to stimulate the economy with too much wasteful spending and not enough for tax cuts. In an op ed piece the WSJ calls it a political wonder that manages to spend money on just about every pent-up Democratic proposal of the last 40 years.
For all the talk of alternative energy and the importance of reducing our need for foreign oil by the Obama administration, the Christian Science monitor points out that just $24 billion can be directly attributed to green investments – $16 billion in tax breaks and $8 billion in loans. However, including renovations of federal buildings and public housing pushes that number higher and some see this as just a down payment with a separate energy bill to be announced later.
Some highlights of the package according to USA Today and WSJ:
$544 billion in new spending
$125 billion for public education including $20 billion for school renovations and $79 billion to avoid education related layoffs
$87 billion for Medicaid
$30 billion goes to road projects
$27 billion to continue unemployment insurance benefits
$20 billion for food stamps
$20 billion to digitize medical records
$8 billion for renewable energies
$7 billion for modernizing federal buildings
$6 billion for mass transit
$5 billion for for the construction and repair of public housing
$4 billion for community activist programs such as ACORN
$2 billion for child care subsidies
$650 million for coupons for digital TV conversions
$400 million for global warming research
$335 million for STD prevention
$50 million for National Endowment of the Arts
* Republicans pushed the Democrats into dropping money for family planning and restoration of the National Mall
* the WSJ estimates that just 12% of the package could be considered a growth stimulus
$275 billion in new tax cuts
$145 billion: Tax cuts for 95% of working Americans, $500 for individuals, $1000 for couples and small business for 2 years
$23 billion: $1000 per child tax credit
$20 billion for company equipment write offs
$16 billion in “green” tax credits
$10 billion: $2500 credit for college
$6.9 billion for homeowner tax credits
For your reading pleasure…
You must put a freeze on wages, because every time wages are increased, the cost of food and utility go up. My wife and I are on social security and find it expensive to maintain a house and pay taxes. I would like to know if the stimulus packages is going to help the people on social security.
I would like to know how $800 billion producing 3 million jobs is a good plan. That’s over $250,000 per job. That’s not a good investment of tax dollars.
it is time to form a new goverment
i cant believe they voted on a bill they didnt even read.it is time for the american people to take back our country.
I saw that too.. the bill is over 1000 pages and they just received it last night for a vote today. Maybe they were given a cliffs notes of changes.. regardless this bill is a joke and the defense of “it won’t be perfect” is a poor excuse.
How does congress now how the taxpayers feel and what they want and need? Every Representative has on his or internet site the following information, I will only answer inquiries from people who reside and vote in my district. They are spending your tax monies and we can not voice our concerns to them:TAXATION WITHOUT REPRESENTATION. Who do they think they are? Who do they answer to? I think that they are breaking the oath they took when they were sworn into office when they have the above statement on their website. Looks like the only ones they are looking after is themselves and flaunt it in our faces. They think the taxpayers are stupid and cannot see what is going on. I have written letters to Rep. Pelosi, Rep. Jackson Lee, and a certified to Rep. David Obey which were never answered because they reserve the right to only answer to the people of their district. If you would like some more comments from me please advise because this is just a piece of the iceberg.
I have heard on network TV accounts of pork, such as 10 million for protection of field mice. Where do they get that information, if true, and where could I get it?
here’s the story on pelosi’s field mice
http://www.huffingtonpost.com/2009/02/12/pelosis-mouse-explained-w_n_166442.html?page=8
not sure of any good sites that highlight all the pet projects in this.. if someone does please post
Freezing wages to save those on Social Security at the cost of those with low wage jobs is a pathetically selfish request. You would rather see a single working mom have less money to feed her kids than cut off your cable to save a few bucks. I’m sorry you didn’t provide for your own retirement, but don’t make others pay the price of your failure. Wow. Was freezing wages your first idea? Subsidizing your own Social Security by selling things or earning a bit never came to mind? Even asking for more money to keep up with the inflation you apparently didn’t figure into your gov’t paid retirement plan would be better than asking hard-working people to sacrifice their and their children’s stability and hopes for a better life. Sorry. I’m off my meds, but you know I’m right.
obama knows exactly what he is doing and pushing for.
Evil to the american way of life. This stimulus is not a stimulas its away to distribute the wealth to radical groups like acorn and to weaken this country so that radical enamies can invade us.