Stimulus... Obama Style - DFWstangs Forums
 
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post #1 of 9 (permalink) Old 01-21-2009, 05:17 AM Thread Starter
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Stimulus... Obama Style

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Where the $825 billion will -- and won't -- show up in your life.

With our first glimpse into how the government wants to use $825 billion to juice the economy, it's clear that some of the money will quickly and directly affect most Americans lives, while other spending is intended to produce either longer-term, less tangible benefits or is targeted at narrow segments of the population -- like the unemployed.
Although the sum is huge, the money isn't intended to turn the economy around, but to keep it from falling even further into decay.
Detractors say spending on stimulus will do little more than drive the country deeper into debt. Many Republicans are arguing for a plan heavier on tax cuts and lighter on government spending.
But supporters -- including most Democrats and the president -- say it would ultimately cost the U.S. more -- in the form of lost jobs, economic output, and lost tax revenues - to drag our feet. They want the plan enacted quickly.
Here's how some of the billions in the House stimulus bill could change your life.
This is not a complete list of the spending, and the numbers are approximate and will likely change before any bill is enacted.

Your Paycheck

What You'll See:

$145 billion in tax cuts for working individuals.

The tax cut would be $500 per person ($1,000 for a couple) and would phase out for people making over $75,000 a year ($150,000 for couples). You can get the money either by claiming it on your tax return, or through a reduction in the taxes that are taken out of your weekly paycheck.

This is the largest single measure in a tax package that includes additional cuts for businesses large and small, as well as expanded credits for low income individuals.

For the Unemployed:

$43 billion for increased unemployment benefits.
$39 billion for expanded healthcare benefits for the unemployed.
$20 billion to increase food stamp benefits.

Education

What You'll See:

$41 billion for school improvements, including better buildings, computer upgrades and teacher training.
$15 billion to increase the maximum Pell grant by $500 in 2009-10; plus, increases to the annual unsubsidized Stafford Loan limits.
$14 billion in tax credits of up to $2,500 a year for college students with an annual income below $80,000.
$6 billion for college building improvements.

Behind the Scenes:

$79 billion to help states offset education costs. While people won't see this directly, it will likely mean that services won't have to be cut or taxes won't have to be raised.

Health Care

What You'll See:

$4 billion for more preventative care programs.
$1.5 billion for improvements at community health centers.

Behind the Scenes:

$20 billion to computerize health care records. This is intended primarily for doctors, although there's some debate as to whether patients will have access to this database as well. Ultimately, it's supposed to make the healthcare system more efficient and cheaper for everyone.

$87 billion for states to help pay Medicaid costs. Again, while not directly visible to most people, state taxes would likely rise, or services cut, absent this measure.

Housing
What You'll See:

$6 billion to weatherize moderate income homes, making them more energy efficient.
$4 billion for homeowners to take up to 30% of the cost of conservation measures as a tax credit, up to $1,500 per person.
$300 million for consumers to replace old appliances.
$500 million to help rural families secure mortgages.

For Those Living in Public Housing:

$16 billion in energy retrofits and improvements.

Transportation
What You'll See:

$30 billion for highway and bridge construction projects.
$10 billion for mass transit, including new lines, buses, trains and stations.
$3 billion to expand congested airports.
$1.15 billion for better land and sea ports.
$4 billion for more police officers and equipment - best watch the speeding!
$500 million for better airport screening detectors.

Other Infrastructure Improvements
What You'll See:

$31 billion to modernize public buildings, making them more energy efficient.
$3.1 billion for improvements on public lands, including new roads, trails and facilities at national parks.
$6 billion for broadband Internet access in rural areas.
$400 million for flood control efforts, which include buying and preserving open land around the country.
$6 billion for communities to replace aging sewer lines.
$4.2 billion for towns to purchase and rehabilitate foreclosed, vacant homes.
$32 billion for a "smart" utility grid and renewable energy production, although in the long run this could change the way you use appliances at home and clean the air.
$10 billion for science research facilities.
Copyrighted, CNNMoney. All Rights Reserved.
http://finance.yahoo.com/banking-bud...us-Affects-You


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post #2 of 9 (permalink) Old 01-21-2009, 06:07 AM
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its all hogwash,our kids and grand kids are liable for all these bailout deals and stimulus programs.read that list twice and you'll really see all the bs. in it.typical greedy goverment.

RON PAUL '08
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post #3 of 9 (permalink) Old 01-21-2009, 08:52 AM
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It's the WPA all over again.
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post #4 of 9 (permalink) Old 01-21-2009, 05:10 PM Thread Starter
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Originally Posted by fast83 View Post
its all hogwash,our kids and grand kids are liable for all these bailout deals and stimulus programs.read that list twice and you'll really see all the bs. in it.typical greedy goverment.
They talked trash about a bridge to nowhere, but are spending $44 Billion+ on roads, and bridges.

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post #5 of 9 (permalink) Old 01-21-2009, 06:37 PM
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Yall leave Obama alone he has this thing under control! Just wait and see. When you wake up in the morning get up check your Bank Account and repeat "Yes We Can" atleast 20 times.... After awhile you will start to believe while you fill out your online job applications!!

98 Brokra
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post #6 of 9 (permalink) Old 01-21-2009, 07:05 PM
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Quote:
Originally Posted by mikeb View Post
It's the WPA all over again.
Not even close, WPA was a government agency that directly hired millions of people, and they built bridges, dams, parks, set electrical grids, etc.

This bailout hands hundreds of billions directly to corporate entities,and HOPE they use it to help the economy. So far, the corporations have mostly hoarded the cash & not made any more loans, or hired any new employees.

And the bailouts are not a Democratic or Republican issue, they both voted to approve it, and will continue to do so. But the fact remains the bailouts will go down as the largest thefts in man's history.
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post #7 of 9 (permalink) Old 01-21-2009, 07:12 PM
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Quote:
Originally Posted by White trash wagon
And the bailouts are not a Democratic or Republican issue, they both voted to approve it, and will continue to do so. But the fact remains the bailouts will go down as the largest thefts in man's history.


All the more evidence that our government is out of control.

But all of our bitching and moaning is helping us immensely!
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post #8 of 9 (permalink) Old 01-22-2009, 05:34 PM
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While industry executives and shoppers will remember 2008 as the year the party ended, figure 2009 to be the year of the hangover. Already, Circuit City, Linens 'N Things and Mervyn's stores are going away. Sharper Image is too, though the company will continue to sell some of its high-end gadgets through license agreements with other retailers.

More pain is on the way. One-third of U.S. women recently surveyed by America's Research Group said they plan no clothing purchases--none--in 2009. Normally, it's just 4%. That means the market is still far too saturated with stores.

More from Forbes.com:

• In Depth: Who's Set to Shutter Stores?

• In Depth: 10 Things We're Still Buying

• In Depth: Gift Cards From These 10 Stores? Use 'Em Now

Expect closings and bankruptcies to rattle the likes of Lane Bryant, Gap, and Starbucks. It's the inevitable counterpunch to the days of retailers fighting hand over fist for market share during an era of loose credit and minuscule interest rates.

Those days are over, probably for a long time. While accelerating unemployment will only last so long, consumers' debt loads and credit access don't figure to recover to pre-party levels for quite awhile.

"I don't think we will live the same way for 10 years," says Howard Davidowitz, chairman of New York-based retail consultant and investment bank Davidowitz & Associates. "People are so scared they're starting to save."

Retailers at risk in 2009, he thinks, include outerwear specialist Eddie Bauer and teen-apparel-seller Pacific Sunwear, along with Zales, the big jewelry chain. All three shuttered at least 8% of their U.S. stores last year, with many more closings expected. The same is largely true of Charming Shoppes, the owner of Lane Bryant, which closed 150 stores last year. With a mountain of debt and losses totaling over $260 million over the most recent 12-month reporting period, the company will close another 100 locations this year.

Another possible casualty: Sears Holdings, operator of Sears and Kmart stores. A key to hedge fund manager Eddie Lampert's 2005 merger of the two chains was in the underlying real estate. But with those values down 30% or so since then, slumping sales hit even worse.

"I'd be surprised if Sears-Kmart makes it through the year," says Britt Beemer, who runs retail market-research firm America's Research Group.

Non-apparel specialists like Starbucks and Sprint Nextel won't be going away, but they will close hundreds more stores during the coming year, Davidowitz predicts. Narrow specialties (Sprint's cellphones) and high prices (Starbucks' coffee) are tough sells as the consumer mood turns thrifty. What plagues Starbucks will also affect other upscale goody chains like Mrs. Fields' Cookies, and causal dining outlets like Applebee's and Cheesecake Factory. Any of the neighborhood outlets for those restaurant chains could be a casualty this year. For too many customers now, it's McDonald's or bust.

Davidowitz doesn't think a huge government stimulus will help. Better to let things bottom out naturally before regrouping. "Obama's plan will make it worse," he says. "We got into this by borrowing and stimulating, now he wants to borrow and stimulate more."
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post #9 of 9 (permalink) Old 01-23-2009, 07:36 PM Thread Starter
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It has never worked in the past... oh wait dems don't remember the past, nor care, because things are changing!

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