Stimulus disappointment

if we want stimulus funds spent, they should go to people in temporary economic difficulty who are likely to be liquidity-constrained. But it appears that most of the measures that would do that — benefits to the unemployed, food stamps, aid to state and local governments — are being bargained away. Even the tax credit is apparently not fully refundable, so those who need it most, and are most likely to spend it, won’t get the full amount. i understand this statment but i also feel that something is better than nothing. in this field thats when greed comes into play and we all know what happens when people get greedy, we lose everything.

picture provided by flickr

Obama’s Budget Faces Challenge

The apparent first casualty is a big one: a proposal to limit tax deductions for the wealthiest 1.2 percent of taxpayers. Mr. Obama says the plan would produce $318 billion over the next decade as a down payment for overhauling health care.
But the chairmen of the House and Senate tax-writing committees, Senator Max Baucus of Montana and Representative Charles B. Rangel of New York, have objected to the proposal, citing a potential drop in tax-deductible gifts to charities. This is more of the people who do not want to see change. i cant understand why some people love to fail, love to see people suffer, what can a person get out of that. everything is good till the shoe is on the other foot.

image provided by flickr

progress

President Obama released billions of dollars on Tuesday for public works projects to prompt creation of jobs.
Kansas will widen U.S. 69 to remove a bottleneck outside Kansas City, along with a few other expensive projects. Maryland will spend its money in smaller pieces, resurfacing dozens of rutted roads and highways. Colorado will build an interchange on Elk Creek Road in Jefferson County, complete with an underpass for the elk. Obama is doing a great job on this. I don't see why he don't think its a big deal because when you think about it, the plan is not to give ppl money that it will support them for the rest of there lives where they don't have to work. Its about creating jobs and stibility for the people.

what can we do

In the past bloggs I talked about what the American govt will attempt to do for us. Now I have to ask what we will do for them or what will we do for our country,to help our self. Can more ppl buy into the market to bring the stocks back up? Or buy more American product? Invest in American stock, vacation in American city's instead of going to other countries? The stimulus plan was to give American ppl money so that they will spend it on American product to boost the American economy and of course help with debt problems. I like the fact that the gov't is trying to do something for us, now we are at the point where we should ask what we will do for them that could help the American economy.

where does it go

Tax cuts are one means of providing economic relief to those in need and will be part of the recovery plan for America. However, Government Grants will also play a vital role as a means to swiftly provide assistance to those who could use financial assistance. Unlike a loan, these Government Grants provide funds which do not need to be repaid. Additional services are available to help in the aid of individuals who face financial hardship or seek to build a better future, such as: pay off many forms of debt
If there is a bill out there that needs to be paid, there may be funding now available that will be able to cover it.

What Now

The Fed chairman, Ben S. Bernanke, said in remarks prepared for delivery before the Senate Budget Committee that the worst case “would not only contribute to further deterioration in the fiscal situation, but would also imply lower output, employment and incomes for an extended period.”
His testimony projected that the consequence might well be an increase in public debt to the equivalent of 60 percent of economic output, compared with 40 percent before the economic crisis began — and reminiscent of the levels after the gigantic borrowing of World War II. what are we to do about this? it feels like the gov't messed up so much in the past that its hard to recover. i love what our president is doing but i think he has to many ppl in the house holding him back.

more help from unemployment

As of March 1st 2009 people who are receiving another extension from unemployment insurance will be receiving an extra $25 added to there check every week. This is another positive thing the gov't is doing for the American people. This is giving me more confidence that our country is headed in the right direction.