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| − | The '''Economic stimulus package''' is a 2009 bill by [[President Obama]] and the Democratic leadership to spend some $819 billion or more dollars to revive an ailing U.S. economy, battered by the [[Recession of 2008]]. It includes $275 billion in tax cuts, and the rest for spending on a very wide variety of projects.<ref> [http://www.nytimes.com/2009/01/29/us/politics/29assess.html?hp David M. Herszenhorn, "Stimulus Package’s Components Vary in Speed and Efficiency," ''New York Times'' Jan. 28, 2009]</ref> | + | The '''Economic stimulus package''' is a 2009 bill by originally backed by President Bush and taken over by [[President Obama]] and the Democratic leadership to spend some $819 billion or more dollars to revive an ailing U.S. economy, battered by the [[Recession of 2008]]. It includes $275 billion in tax cuts, and the rest for spending on a very wide variety of projects.<ref> [http://www.nytimes.com/2009/01/29/us/politics/29assess.html?hp David M. Herszenhorn, "Stimulus Package’s Components Vary in Speed and Efficiency," ''New York Times'' Jan. 28, 2009]</ref> |
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| | "The strategy under this bill is to throw billions of dollars in every bureaucratic direction, and cross our fingers and hope for the best," said Rep. Ken Calvert (R., Calif.) during debate. Rep. David Obey (D., Wis.), the chairman of the House Appropriations Committee, responded, "We need to compare the cost of this package against the cost of doing nothing. The cost of nothing would be catastrophic."<ref> See [http://online.wsj.com/article/SB123315486943524321.html?mod=rss_Politics_And_Policy Jonathan Weisman, Greg Hitt And Naftali Bendavid, "House Passes Stimulus Package; $819 Billion Jolt to Economy Aims to Reshape Education, Health Care; Deficit to Soar," ''Wall Street Journal'' Jan. 29, 2009]</ref> | | "The strategy under this bill is to throw billions of dollars in every bureaucratic direction, and cross our fingers and hope for the best," said Rep. Ken Calvert (R., Calif.) during debate. Rep. David Obey (D., Wis.), the chairman of the House Appropriations Committee, responded, "We need to compare the cost of this package against the cost of doing nothing. The cost of nothing would be catastrophic."<ref> See [http://online.wsj.com/article/SB123315486943524321.html?mod=rss_Politics_And_Policy Jonathan Weisman, Greg Hitt And Naftali Bendavid, "House Passes Stimulus Package; $819 Billion Jolt to Economy Aims to Reshape Education, Health Care; Deficit to Soar," ''Wall Street Journal'' Jan. 29, 2009]</ref> |
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| − | The White House claims that the stimulus package is aimed at preving the economy from collapsing and restoring it to normal. Conservative critics claims it will do little to help the economy and is filled with non-essential pork spending. The [[Congressional Budget Office]] says $347 billion more in interest will be the result, which brings the total plan over 1 [[trillion]] dollars. <ref>[http://www.foxnews.com/politics/2009/01/28/special-groups-line-piece-stimulus/ Special-Interest Groups Line Up for a Piece of Stimulus] Fox News, January 28, 2009</ref> | + | The stimulus package is aimed at preventing the economy from collapsing and restoring it to normal. Conservative critics claims it will do little to help the economy and is filled with non-essential spending. The [[Congressional Budget Office]] says $347 billion more in interest will be the result, which brings the total plan over 1 [[trillion]] dollars. <ref>[http://www.foxnews.com/politics/2009/01/28/special-groups-line-piece-stimulus/ Special-Interest Groups Line Up for a Piece of Stimulus] Fox News, January 28, 2009</ref> |
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| | ==House== | | ==House== |
| | The House of Representative passed the economic stimulus package January 28, 2009 by a vote of 244-188, and now the bill heads for the U.S. Senate. All Republicans cast a no vote as did eleven Democrats. It is expected the Senate will increase the amounts allocated for tax cuts. | | The House of Representative passed the economic stimulus package January 28, 2009 by a vote of 244-188, and now the bill heads for the U.S. Senate. All Republicans cast a no vote as did eleven Democrats. It is expected the Senate will increase the amounts allocated for tax cuts. |
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| − | ==Pork== | + | ==Non Essential== |
| | The people in charge of spending tax dollars are set to spend like never before and special interest groups are poised to be the recipients. Some of the 'stimulus' works proposed; | | The people in charge of spending tax dollars are set to spend like never before and special interest groups are poised to be the recipients. Some of the 'stimulus' works proposed; |
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| | * $30 billion has been set aside for infrastructure spending | | * $30 billion has been set aside for infrastructure spending |
| | * $200 million for Dep. of Defense to acquire alternative energy vehicles. | | * $200 million for Dep. of Defense to acquire alternative energy vehicles. |
| − | * $1.5 billion for a “carbon-capturing contest” | + | * $1.5 billion for a CO2 Reductions |
| | * $3.5 billion for higher education facilities | | * $3.5 billion for higher education facilities |
| | * $400 million for [[HIV]] and chlamydia testing | | * $400 million for [[HIV]] and chlamydia testing |
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| | * $36 billion for expanded unemployment benefits | | * $36 billion for expanded unemployment benefits |
| | * $20 billion for food stamps | | * $20 billion for food stamps |
| − | * $83 billion for the earned income credit for people who don’t pay income tax. | + | * $83 billion for the earned income credit. |
| | * $54 billion will go to federal programs Economic Development Administration, the Small Business Administration, the 10 federal job training programs | | * $54 billion will go to federal programs Economic Development Administration, the Small Business Administration, the 10 federal job training programs |
| | * $66 billion for education | | * $66 billion for education |
| − | * $650 million coupons to subsidize digital television conversion | + | * $650 million coupons to subsidize digital television conversion<ref>addref</ref> |
| | * $572 million for Coast Guard improvements <ref>[http://michellemalkin.com/2009/01/28/stimulus-stupidity-alert-460000coast-guard-job-15-bil-carbon-capturing-contest-more/ Stimulus stupidity alert] Michelle Malkin,January 28, 2009</ref> | | * $572 million for Coast Guard improvements <ref>[http://michellemalkin.com/2009/01/28/stimulus-stupidity-alert-460000coast-guard-job-15-bil-carbon-capturing-contest-more/ Stimulus stupidity alert] Michelle Malkin,January 28, 2009</ref> |
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