President Obama Signs Stimulus Bill

Keep the change!

China Tells USA “We Hate You Guys”

USA Haters...seriously.

Geithner Speaks; Stocks Drop

Treasury Secretary Geithner

Stimulus Deal Reached

Where the deals go down

It’s too important not to post.

Reporting from Washington — President Obama and Senate Democratic leaders, propelled by news of the biggest one-month loss of jobs in 35 years, hammered out a deal Friday evening that clears the way for Senate approval of a massive economic stimulus plan.The compromise, the product of frenzied behind-the-scenes negotiations, would slice about $110 billion from the bill, which had grown to more than $930 billion as amended on the Senate floor.

Obama’s Stimulus Will Hurt More Than Help

Big Spender

I’m an independent thinker when it comes to politics. That being said, I like McCain’s stimulus proposal. This news doesn’t change my mind.

President Obama’s economic recovery package will actually hurt the economy more in the long run than if he were to do nothing, the nonpartisan Congressional Budget Office said Wednesday.

CBO, the official scorekeepers for legislation, said the House and Senate bills will help in the short term but result in so much government debt that within a few years they would crowd out private investment, actually leading to a lower Gross Domestic Product over the next 10 years than if the government had done nothing.

CBO estimates that by 2019 the Senate legislation would reduce GDP by 0.1 percent to 0.3 percent on net. [The House bill] would have similar long-run effects, CBO said in a letter to Sen. Judd Gregg, New Hampshire Republican, who was tapped by Mr. Obama on Tuesday to be Commerce Secretary.

The House last week passed a bill totaling about $820 billion while the Senate is working on a proposal reaching about $900 billion in spending increases and tax cuts.

REPUBLICANS Propose Rival STIMULUS PLAN

"Check this, Mr. President"

Now this makes sense to me!

A group of Senate Republicans unveiled a $445 billion alternative economic stimulus plan on Tuesday, about half the cost of the $885 billion Democratic plan the U.S. Senate is considering.

Following are details of the proposal by John McCain of Arizona, John Thune of South Dakota, Richard Burr of North Carolina, Lindsey Graham of South Carolina, and Mel Martinez of Florida.

Tax Provisions:

* For one year, cut in half to 3.1 percent the payroll tax for all U.S. employees. Cost: $165 billion.

* Lower the 10 percent income tax bracket to 5 percent and the 15 percent bracket to 10 percent for one year. Cost: $60 billion.

More STIMULUS Outrage: 6 Billion For Broadband In Rural Areas

If only I could get online...

In fact, the incoming administration has proposed spending $6 billion on wiring rural areas and urban centers [for broadband internet]
NYTimes

It’s in the proposed stimulus. Why should I we have to pay for this?! 

$2.8 billion for loans to spur rural broadband
$150 million for emergency food assistance
$50 million for regional economic development commissions
$1 billion for “Periodic Censuses and Programs”
$350 million for State Broadband Data and Development Grants
$1.8 billion for Rural Broadband Deployment Grants
$1 billion for Rural Wireless Deployment Grants
More Details @ ElementaryFinance