Stimulus 101: What’s in the bills
House passes $819 billion stimulus package with 0 GOP votes
The Democratic-controlled House approved 9 billion in spending increases and tax cuts at the heart of President Barack Obama’s economic recovery program Wednesday evening, despite Republicans’ charges that the bill is wasteful. The measure passed by a vote of 244-188. Eleven Democrats voted against the measure, while no Republicans supported it.
GOP Leaders, Including McCain, Reject Stimulus Plan
Leading Republicans Sunday indicated that they would oppose passage of the stimulus package as it is currently written. While there is bi-partisan acknowledgment that some sort of stimulus package needs to be passed to provide a jolt to the economy, Democrats are attaching a sense of urgency to the situation that Republicans do not seem to share.
$6 Billion Proposal For High-Speed Internet Grants
witherstaff writes “House Democrats have proposed billion in Internet investmentsas part of a sweeping economic stimulus bill that the full House is expected to vote on next week. The billion is considered a down payment on efforts Obama will make in this area over the next several years. Of course let’s not forget the 0 billion broadband scandal that the large telecommunication companies have been paid but never delivered on.”
Read more of this story at Slashdot.
Feds To Offer Cash For Your Clunker
coondoggie sends along a NetworkWorld piece that begins, “The government… wants to motivate you to get rid of your clunker of a car for the good of the country (and the moribund car industry). A ‘Cash for Clunkers’ measure introduced this week by three US Senators, two Democrats and a Republican, would set up a national voucher program to encourage drivers to voluntarily trade in their older, less fuel-efficient car, truck, or SUV for a car that gets better gas mileage. Should the bill pass, the program would pay out a credit of ,500 to ,500 for drivers who turn in fuel-inefficient vehicles to be scrapped and purchase a more fuel-efficient vehicle.”
Read more of this story at Slashdot.
Democrats’ Factions Could Stall Grand Plans
U.S. Debt Set to Jump $2 trillion This Year Due To Spending
With President-elect Barack Obama and congressional Democrats considering a massive spending package aimed at pulling the nation out of recession, the national debt is projected to jump by as much as $2 trillion this year, an unprecedented increase that could test the world’s appetite for financing U.S. government spending.