Obama's Stimulus Plan Passes in House
Obama's proposed stimulus plan has officially passed in the House and is moving to the Senate on an expedited schedule. Some high level details are outlined in the following link:
This blog is short, but simply pointing out that the summary of the proposed stimulus package is worth a read (if you haven't already). Another thing is to point out that contrary to the claims to "reach across the isle" and run a bi-partisan government, the stimulus package received zero (READ: NONE) Republican votes. It was opposed by 11 Democrats to end up at a vote of 244 to 188. Fear not Boski, your socialist government has arrived!!!!
The two items in the stimulus package that I most disagree with (beside the $819b being spent, $1.2 trillion interest adjusted) are:
1) 6.2% of the infrastructure investment goes to computerizing health care records. IMO, America needs investments in BUSINESSES/MANUFACTURING that have LONG-TERM economic benefits. This also applies to the renewable energy investment as well: this better apply to PROVEN renewable energy that is SUSTAINABLE with LONG TERM RETURNS. I would approve of this type of investment in proven, efficient technology. I hope its not some super bogus energy technology that will turn out to be nothing except appealing to the hippie masses. I do approve of the majority of the money going to education, though.
2) Tax breaks for small companies and companies 'affected by the downturn.' Small companies employ small amounts of workers; not going to save the US. A majority of the companies included in the 'affected by downturn' were probably poorly managed to begin with (hi auto and banks). News flash: every company is affected. The good ones just manage it better. But I guess it makes sense to reward the companies who are performing the worst!!!!!
"Increase weekly unemployment benefits by $25, and provide incentives for states to expand unemployment coverage" falls along the same lines. Lets reward states for giving money away!
P.S- Cara said it was straight for you to visit Boz. Cleared it last night. Just book the flight.