Saturday, February 14, 2009

The Economic Stimulus Package

How much is the total cost of the economic stimulus package?
Congress has voted on a package totaling 787 billion USD after several
contentious days on Capitol Hill.
Read about the package here

Who is in favor of the package?
Senate Democrats, House Democrats, the White House, and a trio of moderate
senate Republicans hailing from Maine and Pennsylvania. Polls show a slim majority of the public (53%) are in favor of the package.
More on the Moderate Republican rebellion

Who is opposed to the stimulus bill?
Senate Republicans excluding Snowe, Specter, and Collins, all House Republicans, and
many economic conservatives oppose the bill on the magnitude of money being
spent, as well as some social conservative elements debating on whether spending
money on birth control and education counts as economic stimulus
Read an economic conservative’s opinion on the package here

Where is the money going?
A variety of places. A tax cut for 400 to 800 USD is going out for all working tax payers. In addition, billions of dollars have been set aside for infrastructure and tech development, two of the stimulus package’s biggest winners.
Learn more

What role has President Obama taken with the stimulus package?
President Obama has aggressively pushed for the package since coming in to office. Despite his requests for bipartisan legislation, voting was almost completely along party lines. Some are saying his decision to cut some spending and give out tax cuts, while barely getting republican votes are signs that Obama buckled too fast with no gain.
Obama's victory called "Pyrrhic"

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