Obama Stimulates Us With Digits

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money1Obama has been president for, oh, 53 hours now and he’s already poised for a major showdown with Congress next week over his economic recovery plan. The plan’s total pricetag is $825 billion dollars—one serious chunk of change.

44 and House Dems propose we dish out the dollars like so:

  • $275 billion in tax cuts. $29 billion will be going to businesses, but most of this will be going to regular folks like us. Everyone making less than $75K will get a $500 tax credit, and couples under the $150K line will get a grand.
  • $119 billion aid for states, the bulk of it going to bolster Medicaid.
  • $117 billion for education, including $21 billion for school modernization and $25 billion to prevent teacher layoffs.
  • $119 billion aid for states, the bulk of it going to bolster Medicaid.
  • $106 billion for aid to the poor and unemployed—$43 billion of it for unemployment benefits and $39 billion for health insurance coverage.
  • $90 billion for highway construction, rail/transit programs, water projects and the like.
  • $54 billion for energy, including the creation of a new electricity grid.
  • $16 billion for science and technology research.
  • And $48 billion marked as “other.”

All of this sounds pretty kosher, but certain Congressfolk (ahem, House minority whip Eric Cantor) are up in arms about the plan and say it’s government run amok. Some of the provisions they aren’t loving:

  • $630 million in digital television conversion assistance
  • $6 billion to weatherize homes
  • $600 million to buy alternative fuel vehicles for the federal government

If all of this sounds about as easy to understand as Yiddish, this USA Today piece breaks it down point by point, with expert opinions on the earmarked cash.

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One Response to “Obama Stimulates Us With Digits”

  1. You’re Fired: Meet the 50,000 Jobs Lost in ‘09 « TheFakeScan Says:

    […] to reduce jobs another 39% in the next six months, Congress is supposed to vote on the ginormous $825 billion stimulus package on Wednesday. Is that even enough cash to go […]

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