Overview of the Stimulus Plan

It appears that there has been an agreement reached between the House and Senate on the stimulus bill.  Yahoo has a summary article.  Here are some of the highlights:

  • Cost: $780 Billion – That’s an increase of about 7.3% to the National Debt.
  • Breakdown: 1/3 Tax Cuts and 2/3 Spending
  • Medicaid: $90 Billion to help states with funding – something that should have been in a separate bill.
  • Education: $10 Billion on program to assist low-income students – another for a separate appropriations bill.
  • Infrastructure: $150 Billion – $50 Billion of that is transportation infrastructure.
  • Tax Cuts: $400/year credit that applies to 95% of workers – Yes, that’s our direct share out of the $780 Billion bill.
  • Timeline: Some construction projects could begin in 90 days – unfortunately, no details on how soon the jobs will end.

It is disappointing to still see a lot of items that should have been in separate appropriations bills.  Many such items could stand on their own merit instead of being tagged onto an ‘emergency stimulus bill’.  I guess it goes to show that there isn’t a bill that a politician can’t find a way to stick a rider to.

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Posted under Economy

Written by admin on February 12, 2009

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Americans Losing Confidence in Congress

Another interesting poll from Rasmussen:

67% trust their judgment more than the average member of Congress. Even more surprising 44% think a group of people randomly selected from the phone book could address the nation’s problems better than Congress! Only 37% disagree with them. This does not bode well for the Democrats so early into holding majorities in the House, Senate, and Presidency.

It is clear that the stimulus package is starting to take a toll on the Democrats.  Public support is falling not only for the package, but for the party that is pushing it.  The “bold and swift action” that Obama is pressing for could end up expensive if an equally swift economic reaction does not result from its passing.

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Posted under Economy

Written by admin on February 11, 2009

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Jon Stewart Pokes at Obama

It’s far from a scathing satire, but at least I’ll give Stewart credit for poking a bit of fun at Obama (about halfway through the video).  I’ll be interested to see what the comics end up focusing on with Obama.

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Posted under Media

Written by admin on February 11, 2009

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The Amazing Expectations for Obama

There are clearly uneducated and uninformed people out there in the world.  No, they’re not limited to just the Obama faithful, but I had to post these.

The first is a woman who seems to have fallen on some tough times.  I feel for her and hope her condition improves, however she seems to be hoping that Obama was planning an Oprah moment.

This next clip is of a gentleman who has not managed to move up from his McDonald’s job while attending college.  Hats off to him for working there for over four years, but he is a bit confused if he thinks Obama’s job is to force companies to give increased benefits based on years of service.

It just reminds me of the lady who swooned over Obama during the election, feeling she would never have to worry about paying for her mortgage ever again.

The expectations of these people are amazing.  And to his credit, Obama handled the strange questions fairly well.  I hope that the general population is more informed than this and realize that it is personal effort, not governmental effort, that will move them to the place they want to be in life. What ever happened to “Ask not what your country can do for you – ask what you can do for your country”?

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Posted under Stupidity

Written by admin on February 11, 2009

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Schumer: Americans Don’t Care About Pork

 

OK, this is downright insulting.  I suppose I must be part of the “chattering class” or something.  Apparently most Americans don’t mind a few million dollars of waste here, a billion or two there… Schumer claims it’s just not a big deal.  It is amazing how much respect politicians like this give our tax money!

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Posted under Stupidity

Written by admin on February 10, 2009

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