Showing posts with label US. economic stimulus. Show all posts
Showing posts with label US. economic stimulus. Show all posts
Friday, February 13, 2009
Thursday, February 12, 2009
Freedom and Democracy.
"Freedom exists only where the people take care of the government." -- Woodrow Wilson
"Democracy is a very simple principle, and those who speculate about its meaning are those who are not quite willing to accept it. The dictionary defines it as "the rule of the people." Not much more need be said about it." -- Bernard Smith
Wednesday, February 11, 2009
Stimulus pared to $789 billion in race for deal - Associated Press
By DAVID ESPO, AP Special Correspondent news.yahoo.com
WASHINGTON – House and Senate negotiators agreed to pare economic stimulus legislation below $800 billion and reached for a final deal with the White House on Wednesday on a bill designed to create millions of jobs in a nation reeling from recession.
"Time's getting short," said Sen. Susan Collins, R-Maine, one of a handful of Senate moderates whose votes are crucial to the bill's passage.
As if to underscore the urgency, President Barack Obama said executives at Caterpillar Corp. told him they would rescind some of the 22,000 layoffs they recently announced once the stimulus is signed into law.
Several Democratic officials said there was an informal deadline of Wednesday afternoon for at least tentative agreement on an overall bill, a time that coincided with a scheduled formal meeting of House and Senate negotiators.
The real decisions were made in Capitol office suites where House Speaker Nancy Pelosi, Senate Majority Leader Harry Reid and other key lawmakers, often joined by White House officials and their own aides, worked late Tuesday night and picked up again in the morning.
Sen. Max Baucus, D-Mont., one of the negotiators, said there was agreement to hold the bill to $789 billion, tens of billions below the cost of both the House and Senate bills that had cleared in recent days, and that 35 percent of the total would be in the form of tax cuts.
The reductions in the bill's size caused grumbles among liberal Democrats, who described them as a concession to the moderates, particularly Sen. Arlen Specter, R-Pa., who are under pressure from conservative Republicans to hold down spending.
The principal components of the emerging measure included money to help victims of the recession, as much as $44 billion in aid for states, which face cuts of their own as a result of lower tax receipts, and the president's proposed tax cut for lower and middle-income wage earners.
Officials said there was agreement to accept the White House's call to provide the tax break to workers who pay Social Security taxes but do not earn enough to owe income taxes, although it was possible the amount would be scaled back somewhat. The president sought $500 for individuals and $1,000 for couples.
Working to accommodate the new, lower overall limit of the bill, negotiators effectively wiped out a Senate-passed provision for a new $15,000 tax credit to defray the cost of buying a home, these officials said. The agreement would allow taxpayers to deduct the sales tax paid on new car purchases, but not the interest on loans for the same vehicles.
It also appeared a compromise was in the works on the administration's demand for school construction funds. Sen. Tom Harkin, D-Iowa, told reporters that $6 billion would be set aside, and officials said it would be limited to repair and modernization work.
With numerous demands for the funds in the bill, lawmakers worked to satisfy competing demands.
A Senate-passed provision giving $10 billion to the National Institutes of Health for research — a favorite of both Harkin and Specter, appeared likely to survive.
The officials who described the negotiations did so on condition of anonymity, saying they were not authorized to disclose the details of the closed-door negotiations.
Obama has spoken out repeatedly in recent days to urge Congress to act quickly in the face of the worst economic crisis since the Great Depression.
"We're at the doorstep of getting this plan through Congress, but the work is not over," he said in Springfield, Va., where he visited a construction site.
Even after the measure becomes law, he said, the challenge will be to effectively make use of the funds in an "endeavor of enormous scope and scale."
Republicans, too, took note of the size of the bill, and they said it included billions that would be wasted.
The original House bill, with a price tag of $820 billion, passed without a single Republican vote.
The $838 billion Senate bill that cleared on Tuesday had the backing of only three of 41 Republicans — but that was enough to give it the 60 votes it needed.
Collins told reporters she hoped fellow GOP lawmakers would reconsider when the final compromise comes to a vote "rather than just reflexively oppose this."
She said the negotiators had "tightened and scrubbed it" to eliminate wasteful spending.
___
Associated Press Writers Andrew Taylor and Ben Feller contributed to this story.
WASHINGTON – House and Senate negotiators agreed to pare economic stimulus legislation below $800 billion and reached for a final deal with the White House on Wednesday on a bill designed to create millions of jobs in a nation reeling from recession.
"Time's getting short," said Sen. Susan Collins, R-Maine, one of a handful of Senate moderates whose votes are crucial to the bill's passage.
As if to underscore the urgency, President Barack Obama said executives at Caterpillar Corp. told him they would rescind some of the 22,000 layoffs they recently announced once the stimulus is signed into law.
Several Democratic officials said there was an informal deadline of Wednesday afternoon for at least tentative agreement on an overall bill, a time that coincided with a scheduled formal meeting of House and Senate negotiators.
The real decisions were made in Capitol office suites where House Speaker Nancy Pelosi, Senate Majority Leader Harry Reid and other key lawmakers, often joined by White House officials and their own aides, worked late Tuesday night and picked up again in the morning.
Sen. Max Baucus, D-Mont., one of the negotiators, said there was agreement to hold the bill to $789 billion, tens of billions below the cost of both the House and Senate bills that had cleared in recent days, and that 35 percent of the total would be in the form of tax cuts.
The reductions in the bill's size caused grumbles among liberal Democrats, who described them as a concession to the moderates, particularly Sen. Arlen Specter, R-Pa., who are under pressure from conservative Republicans to hold down spending.
The principal components of the emerging measure included money to help victims of the recession, as much as $44 billion in aid for states, which face cuts of their own as a result of lower tax receipts, and the president's proposed tax cut for lower and middle-income wage earners.
Officials said there was agreement to accept the White House's call to provide the tax break to workers who pay Social Security taxes but do not earn enough to owe income taxes, although it was possible the amount would be scaled back somewhat. The president sought $500 for individuals and $1,000 for couples.
Working to accommodate the new, lower overall limit of the bill, negotiators effectively wiped out a Senate-passed provision for a new $15,000 tax credit to defray the cost of buying a home, these officials said. The agreement would allow taxpayers to deduct the sales tax paid on new car purchases, but not the interest on loans for the same vehicles.
It also appeared a compromise was in the works on the administration's demand for school construction funds. Sen. Tom Harkin, D-Iowa, told reporters that $6 billion would be set aside, and officials said it would be limited to repair and modernization work.
With numerous demands for the funds in the bill, lawmakers worked to satisfy competing demands.
A Senate-passed provision giving $10 billion to the National Institutes of Health for research — a favorite of both Harkin and Specter, appeared likely to survive.
The officials who described the negotiations did so on condition of anonymity, saying they were not authorized to disclose the details of the closed-door negotiations.
Obama has spoken out repeatedly in recent days to urge Congress to act quickly in the face of the worst economic crisis since the Great Depression.
"We're at the doorstep of getting this plan through Congress, but the work is not over," he said in Springfield, Va., where he visited a construction site.
Even after the measure becomes law, he said, the challenge will be to effectively make use of the funds in an "endeavor of enormous scope and scale."
Republicans, too, took note of the size of the bill, and they said it included billions that would be wasted.
The original House bill, with a price tag of $820 billion, passed without a single Republican vote.
The $838 billion Senate bill that cleared on Tuesday had the backing of only three of 41 Republicans — but that was enough to give it the 60 votes it needed.
Collins told reporters she hoped fellow GOP lawmakers would reconsider when the final compromise comes to a vote "rather than just reflexively oppose this."
She said the negotiators had "tightened and scrubbed it" to eliminate wasteful spending.
___
Associated Press Writers Andrew Taylor and Ben Feller contributed to this story.
Monday, February 9, 2009
Thursday, February 5, 2009
$150 Million In Stimulus To The Honeybees?
This is an important letter that was sent to me by Senator John Cornyn, Chairman of the National Republican Senatorial Committee.
"Natasha --
The seriousness of our economic situation is no joking matter.
Which is why Republicans stuck together to block the Senate Democrats from using the Economic Stimulus Plan to pay off their special interest debts and fund wasteful programs.
But we're not in the clear yet. We need your help today to stop the Democrats from trying to force bloated, wasteful spending into a much needed stimulus proposal. Please follow this link to sign our "Stop the Waste" petition.
We need to get the economy going again and create new jobs.
But the $800 billion plan the Democrats brought to the Senate was riddled with wasteful spending and pork-barrel special interest payoffs that would have left a mountain of debt for future generations.
The Democrat plan included $70 million for super computers to research climate change, $50 million for the National Endowment for the Arts, $335 million to prevent sexually transmitted diseases, $150 million to insure honeybee farmers, and $20 million to remove fish barriers in rivers.
We need to make sure the Democrats know that Americans are tired of playing politics with our future -- by signing the "Stop the Waste" petition, you can make your voice heard.
By sticking together and standing for our principles, we've forced the Democrats to come back to the bargaining table and come up with a stimulus plan that is targeted on economic growth and jobs and that won't mortgage our future by piling up pork-barrel spending.
Now, we need to make sure the Democrats actually keep their end of the bargain.
Please help us continue our groundswell of opposition to their ideas of wasteful, bloated proposals by forwarding my email to at least five of your friends and family members.
We need stimulus for our economy, but as a taxpayer, I'm not willing to write a blank check to the Democrats in Congress and hope they'll spend it wisely.
So please help us remind the Democrats that voters are outraged by their wasteful proposals and demand a common-sense stimulus plan with spending targeted only on initiatives that will grow the economy.
The Democrats plan to act soon. Please don't delay in making your voice heard. Click here and sign our pledge today. Thank you.
Sincerely,
Senator John Cornyn
Chairman,
National Republican Senatorial Committee
"Natasha --
The seriousness of our economic situation is no joking matter.
Which is why Republicans stuck together to block the Senate Democrats from using the Economic Stimulus Plan to pay off their special interest debts and fund wasteful programs.
But we're not in the clear yet. We need your help today to stop the Democrats from trying to force bloated, wasteful spending into a much needed stimulus proposal. Please follow this link to sign our "Stop the Waste" petition.
We need to get the economy going again and create new jobs.
But the $800 billion plan the Democrats brought to the Senate was riddled with wasteful spending and pork-barrel special interest payoffs that would have left a mountain of debt for future generations.
The Democrat plan included $70 million for super computers to research climate change, $50 million for the National Endowment for the Arts, $335 million to prevent sexually transmitted diseases, $150 million to insure honeybee farmers, and $20 million to remove fish barriers in rivers.
We need to make sure the Democrats know that Americans are tired of playing politics with our future -- by signing the "Stop the Waste" petition, you can make your voice heard.
By sticking together and standing for our principles, we've forced the Democrats to come back to the bargaining table and come up with a stimulus plan that is targeted on economic growth and jobs and that won't mortgage our future by piling up pork-barrel spending.
Now, we need to make sure the Democrats actually keep their end of the bargain.
Please help us continue our groundswell of opposition to their ideas of wasteful, bloated proposals by forwarding my email to at least five of your friends and family members.
We need stimulus for our economy, but as a taxpayer, I'm not willing to write a blank check to the Democrats in Congress and hope they'll spend it wisely.
So please help us remind the Democrats that voters are outraged by their wasteful proposals and demand a common-sense stimulus plan with spending targeted only on initiatives that will grow the economy.
The Democrats plan to act soon. Please don't delay in making your voice heard. Click here and sign our pledge today. Thank you.
Sincerely,
Senator John Cornyn
Chairman,
National Republican Senatorial Committee
Thursday, January 29, 2009
Obama Administration Pushing "Stimulus" Plan With Excessive Pork Spending
Why is the "Stimulus Package" being so scrutinized?
When the TARP (700 billion dollars) was so unregulated and spent so frivolously, why wouldn't there be closer scrutiny.
"The House measure had been estimated to cost $825 billion, but the Congressional Budget Office updated the bill's price tag to $816 billion after accountants recalculated the cost. That total rose by $3 billion when the House approved on a voice vote a Democratic amendment for mass transit." -- TimesOnLine.co.UK.
With interest, the spending/stimulus plan with be approximately 1 Trillion dollars. How many zeros are in a trillion? 12 zeros!
On Obama's election campaign site, as of January 1, 2009, the following is what he said that the plan would go toward.
"Barack Obama's Plan to Stimulate the Economy and Protect American Families Would:
* Provide an immediate $250 tax cut for workers and their families.
* Provide an immediate, temporary $250 bonus to seniors in their Social Security checks.
* Provide an additional $250 tax cut to workers and an additional $250 to seniors if the economy continues to worsen
* Provide relief to homeowners hit by the housing crisis.
* Provide aid to states hardest-hit by the housing crisis to avoid a slash in services.
* Extend and expand Unemployment Insurance."
With benefits unlisted on the Internet (as far as my research as taken me), those items that have been leaked in the larger media outlets include those that may go to Acorn, NASA climate change research, digital TV converter box coupons, and more. The spending on sod on the National Mall has been reportedly removed, as well as the spending on contraception.
Forwarded from a friend...
When the TARP (700 billion dollars) was so unregulated and spent so frivolously, why wouldn't there be closer scrutiny.
"The House measure had been estimated to cost $825 billion, but the Congressional Budget Office updated the bill's price tag to $816 billion after accountants recalculated the cost. That total rose by $3 billion when the House approved on a voice vote a Democratic amendment for mass transit." -- TimesOnLine.co.UK.
With interest, the spending/stimulus plan with be approximately 1 Trillion dollars. How many zeros are in a trillion? 12 zeros!
On Obama's election campaign site, as of January 1, 2009, the following is what he said that the plan would go toward.
"Barack Obama's Plan to Stimulate the Economy and Protect American Families Would:
* Provide an immediate $250 tax cut for workers and their families.
* Provide an immediate, temporary $250 bonus to seniors in their Social Security checks.
* Provide an additional $250 tax cut to workers and an additional $250 to seniors if the economy continues to worsen
* Provide relief to homeowners hit by the housing crisis.
* Provide aid to states hardest-hit by the housing crisis to avoid a slash in services.
* Extend and expand Unemployment Insurance."
With benefits unlisted on the Internet (as far as my research as taken me), those items that have been leaked in the larger media outlets include those that may go to Acorn, NASA climate change research, digital TV converter box coupons, and more. The spending on sod on the National Mall has been reportedly removed, as well as the spending on contraception.
Forwarded from a friend...
"This year, taxpayers will receive an Economic Stimulus Payment.
This is a very exciting new program that I will explain using the Q and
A format:
Q. What is an Economic Stimulus Payment?
A. It is money that the federal government will send to taxpayers.
Q. Where will the government get this money?
A. From taxpayers.
Q. So the government is giving me back my own money?
A. Only a smidgen.
Q. What is the purpose of this payment?
A. The plan is that you will use the money to purchase a high-definition
TV set, thus stimulating the economy.
Q. But isn't that stimulating the economy of China?
A. Shut up.
Below is some helpful advice on how to best help the US economy by
spending your stimulus check wisely:
If you spend that money at Wal-Mart, all the money will go to China.
If you spend it on gasoline it will go to the Arabs.
If you purchase a computer it will go to India.
If you purchase fruit and vegetables it will go to Mexico, Honduras, and
Guatemala (unless you buy organic).
If you buy a car it will go to Japan.
If you purchase useless crap it will go to Taiwan.
And none of it will help the American economy.
We need to keep that money here in America. You can keep the money in
America by spending it at yard sales, going to a baseball game, or spend
it on prostitutes, beer (domestic ONLY), or tattoos, since those are the
only businesses still in the US."
Wednesday, January 28, 2009
Stimulus Defined.
With the argument of the definition of what "stimulus" means, here are various definitions. You judge for yourself if these definitions equal the package that government is actually attempting to pass at this very moment.
1. A stimulant.
2. An action, condition, or person that provokes a response, especially a conditioned response.
3. any stimulating information or event; acts to arouse action [syn: stimulation]
4. A goad; hence, something that rouses the mind or spirits; an incentive; as, the hope of gain is a powerful stimulus to labor and action.
5. Something causing or regarded as causing a response.
6. An agent, action, or condition that elicits or accelerates a physiological or psychological activity or response.
7. Something that incites or rouses to action; an incentive
8. something that incites to action or exertion or quickens action, feeling, thought, etc.: The approval of others is a potent stimulus.
1. A stimulant.
2. An action, condition, or person that provokes a response, especially a conditioned response.
3. any stimulating information or event; acts to arouse action [syn: stimulation]
4. A goad; hence, something that rouses the mind or spirits; an incentive; as, the hope of gain is a powerful stimulus to labor and action.
5. Something causing or regarded as causing a response.
6. An agent, action, or condition that elicits or accelerates a physiological or psychological activity or response.
7. Something that incites or rouses to action; an incentive
8. something that incites to action or exertion or quickens action, feeling, thought, etc.: The approval of others is a potent stimulus.
Wednesday, December 17, 2008
Citizen Stimulus and Bailout Committee
"Stimulus", "bailout", whatever they call it, it is going to cost us a pretty penny (plus interest). Wouldn't we have a wise and "transparent" government if they were to incorporate a committee of citizens in various industries across the country to audit and evaluate who and how regarding stimulus and bailout? After all, it is the taxpayers' money.
In the circumstance of the auto bailout, wouldn't it be prudent that they incorporate an actual audit of those companies receiving consideration for the money? Or are they just going to take the executives at their word.
The actual $700 billion bailout (TARP) was supposed to receive an audit of sorts in early December. But, no matter where or how I searched, I could not find any specifics on the actual grade, review, audit, or otherwise. So, what has become of that money? Shouldn't we be privy to that information, since it is our money (plus the interest of at least 5% that we will owe some foreign country, most likely China)?
Without and audit, how does Congress expect to know how much total taxpayer money will be needed to help General Motors Corp. and Chrysler LLC. to actually survive. After all, they are telling Congress that they need "a total of $14 billion to $15 billion to survive through early 2009". What happens after that?
Sure, they should make sacrifices, but what do they mean by "show they're willing to sacrifice"? Does that mean that they have to take business class airfare? Or does that mean that they have to drive themselves in their own brand of car instead of taking a limo? When you are talking about executives that "haven't adapted well to changing conditions", what are they going to consider change and sacrifice, versus what actually needs to be accomplished in our reality.
When there is a Washington machine committee put together to evaluate this issue of "concessions" and "sacrifice", are they really living in reality enough to evaluate the issue? Or would it be more prudent to have some actual citizens involved in this process...people who are in various working industries and conditions around the country? After all, it is our (the taxpayers') money.
If you are not worried about future ramifications of all of these "stimuli", you should be. If it were as easy as just printing more money, that would be easy and we would not have these recessionary, depressionary, devaluationary, deflationary concerns. However, in the end, the buck stops with you and I...literally. In the end, since the money is coming from you and I, wouldn't you rather see a committee of folks who are a part of the various working industries around the country, and not just those who are a part of the Washington D.C. system?
In the circumstance of the auto bailout, wouldn't it be prudent that they incorporate an actual audit of those companies receiving consideration for the money? Or are they just going to take the executives at their word.
The actual $700 billion bailout (TARP) was supposed to receive an audit of sorts in early December. But, no matter where or how I searched, I could not find any specifics on the actual grade, review, audit, or otherwise. So, what has become of that money? Shouldn't we be privy to that information, since it is our money (plus the interest of at least 5% that we will owe some foreign country, most likely China)?
"House Speaker Nancy Pelosi touted the notion of a 'car czar' to supervise an auto industry bailout, saying Tuesday that Big Three executives haven't adapted well to changing conditions." -- December 9, 2008, Associated Press
Without and audit, how does Congress expect to know how much total taxpayer money will be needed to help General Motors Corp. and Chrysler LLC. to actually survive. After all, they are telling Congress that they need "a total of $14 billion to $15 billion to survive through early 2009". What happens after that?
"Dec. 16 (UPI) -- Stakeholders in the U.S. auto industry must show they're willing to sacrifice if assistance funds are to be allotted, a White House spokeswoman said Tuesday." -- UPI.com, Business News, December 16, 2008
Sure, they should make sacrifices, but what do they mean by "show they're willing to sacrifice"? Does that mean that they have to take business class airfare? Or does that mean that they have to drive themselves in their own brand of car instead of taking a limo? When you are talking about executives that "haven't adapted well to changing conditions", what are they going to consider change and sacrifice, versus what actually needs to be accomplished in our reality.
"(If) we're going to use taxpayer financing to assist the automakers, all stakeholders are going to have to come to the table and be willing to show that they are capable and willing to make really tough decisions about the way forward," spokeswoman Dana Perino said. "(We) need them to become viable, competitive firms in the future, and in order to do that, concessions are going to have to be made by stakeholders." -- UPA.com, Business News, December 16, 2008
When there is a Washington machine committee put together to evaluate this issue of "concessions" and "sacrifice", are they really living in reality enough to evaluate the issue? Or would it be more prudent to have some actual citizens involved in this process...people who are in various working industries and conditions around the country? After all, it is our (the taxpayers') money.
"House Speaker Nancy Pelosi says Democrats are preparing a massive economic recovery bill in the range of $600 billion.
It would blend immediate steps to counter the slumping economy with longer term federal spending on infrastructure like energy efficiency projects.
The California Democrat told reporters that economist Mark Zandi has recommended to Democrats an economic stimulus in that range -- including $400 billion in infrastructure and $200 billion for tax cuts.
Pelosi saysCapitol Hill Democratsare already "hard at work" writing a stimulus measure to pass next month. It's expected to combine tools like tax cuts and help to states suffering from big budget deficits with infrastructure projects like road and bridge repairs." -- The Associated Press, December 16, 2008 (note: italics added)
If you are not worried about future ramifications of all of these "stimuli", you should be. If it were as easy as just printing more money, that would be easy and we would not have these recessionary, depressionary, devaluationary, deflationary concerns. However, in the end, the buck stops with you and I...literally. In the end, since the money is coming from you and I, wouldn't you rather see a committee of folks who are a part of the various working industries around the country, and not just those who are a part of the Washington D.C. system?
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