Statewise Distribution of the $819 Billion Stimulus Package

State Aid To States Aid to States Per Capita School & College Modernization Job Training Trans-portation & Infra-structure

Transportation and Infrastructure, Per Capita

Alaska 152158000 221.71 48357000 13715640 338470196 493.19
Alabama 960798000 206.10 355194000 31416013 663713926 142.37
Alaska 152158000 221.71 48357000 13715640 338470196 493.19
Arizona 1301130000 200.17 390459000 48538123 720567695 110.85
Arkansas 585180000 204.94 200625000 27607040 431858848 151.24
California 7854800000 213.70 2430042000 507839639 4457290824 121.26
Colorado 990116000 200.45 226917000 32525697 565549451 114.50
Connecticut 718194000 205.12 175591000 31929081 584010217 166.80
Delaware 176134000 201.74 57200000 7020525 160688252 184.05
District of Columbia 118130000 199.60 70125000 10657624 375741482 634.88
Florida 3546800000 193.51 961078000 149882674 1980019161 108.03
Georgia 1999662000 206.45 614141000 91984831 1313239490 135.58
Hawaii 256130000 198.83 66051000 7625013 218799204 169.85
Idaho 319330000 209.56 75775000 10254185 260652613 171.05
Illinois 2713550000 210.33 859459000 163074364 1808810217 140.20
Indiana 1329238000 208.45 380132000 60372907 968218339 151.83
Iowa 625594000 208.35 151334000 16390905 463130169 154.25
Kansas 591248000 211.00 162211000 19106629 395700268 141.21
Kentucky 861848000 201.87 286591000 48165776 574606979 134.59
Louisiana 944936000 214.23 382951000 43401452 595385420 134.98
Maine 258864000 196.64 75009000 11934126 194557491 147.79
Maryland 1164104000 206.64 293752000 34576551 782049143 138.82
Massachuse-tts 1314888000 202.35 381765000 60581167 1009415292 155.34
Michigan 2130526000 212.98 738044000 200786089 1246726787 124.63
Minnesota 1080796000 207.03 240868000 47418790 684662950 131.15
Mississippi 637062000 216.79 248665000 46179669 425767045 144.89
Missouri 1217038000 205.87 344179000 69653391 935640562 158.27
Montana 196532000 203.15 63268000 9259009 319180239 329.92
Nebraska 377768000 211.82 104496000 10982375 280166561 157.09
Nevada 509760000 196.05 113331000 26232582 291308789 112.03
New Hampshire 267166000 203.04 62448000 8150501 206659874 157.06
New Jersey 1763258000 203.08 419681000 65122101 1498874854 172.63
New Mexico 419284000 211.29 154306000 15888368 333722266 168.18
New York 3991858000 204.81 1632794000 189868406 3390074507 173.94
North Carolina 1838396000 199.34 551152000 81338934 996163687 108.02
North Dakota 138922000 216.56 52829000 8761506 232611864 362.62
Ohio 2385026000 207.65 740000000 155039850 1537795927 133.89
Oklahoma 761740000 209.13 227641000 23305408 544370465 149.46
Oregon 747154000 197.14 209934000 39414636 498364188 131.49
Pennsylvania 2528086000 203.09 821848000 103928168 1863839725 149.73
Rhode Island 220602000 209.94 85286000 15238027 209546357 199.42
South Carolina 905094000 202.04 291414000 65977433 573515829 128.02
South Dakota 167996000 208.90 58139000 8573825 236742407 294.38
Tennessee 1241240000 199.72 347596000 68591645 760887412 122.43
Texas 5139542000 211.27 1724215000 196591556 3052563414 125.48
Utah 617442000 225.64 134333000 15033125 310085588 113.32
Vermont 126390000 203.44 48602000 6978923 162625344 261.76
Virginia 1584522000 203.95 375475000 39295584 997585229 128.40
Washington 1315786000 200.91 316341000 56799208 847078890 129.34
West Virginia 354766000 195.52 141234000 14647874 351210992 193.56
Wisconsin 1162196000 206.50 317239000 42542980 795238394 141.30
Wyoming 108422000 203.55 41766000 7322768 235627410 442.35

Sources: U.S. Census Bureau; Department of Labor estimates via the House Appropriations Committee & Congressional Research Service ; House Committee on Transportation and Infrastructure, Washington Post.
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Some Small Business Tax problems for the Self Employed

business tax
In our country there are millions of people who are self-employed and also dreaming of having a big business. But very few are able to handle the very complicated tax issues at ease. Most of them are confused when its time for their tax return.

All the persons whether they are taking business as a hobby or providing some services to the people, everyone has to file for a tax return. You have to submit business revenue results in your individual tax return reports. Here are some guidelines and tricks you should keep in mind, if you wish to have a business.

Schedule C –Form 1040:-
You always have to report your business loss or profits in Schedule C Form 1040. The income earned from business is taxable. If you don`t withdraw any money from the business, still you have to pay taxes as an individual. If the business has confronted a loss, the loss will be deduced from the total income in case of individual tax return.

Home Based Business :-
If you are conducting home-based business, then you can claim for tax deduction for the payments like telephone charges and other utilities. Most persons miss these opportunities of tax deduction as they are not aware of the rules of deduction.

Self-Employment Taxes :-
Self employment tax is proving a big set back for the self employed. You have to pay a hefty tax for your income from the business. You can opt for partial deduction of your self employment tax, which is not known to many person and pay extra amount tax. You can deduct half of the self-employment tax from the total income.

There are also little known deductions available like no withholding tax, health insurance deduction etc. Later we can talk about these too.
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Wall Street not as Hopeful with Obama

problems of ObamaMany people are optimistic about the prospects of economic growth under President Barack Obama. But in the stock exchange the stocks dived on the Inauguration Day on the fears of having more bank problems in future.

Most people are placing their hope on Obama for The Economic stability. But Wall Street is not so optimistic about that as they are frightened of future bank problems.

Everyone round the world was happy and excited at the time of inauguration as 44th President of USA. But the Wall Street was not so excited.

The average Americans were happy and eager for the change but the investors were not as confident as usual. Almost every stock went downwards on January 20.

STT has already reached its half value after the premonition of 2009 as the tougher year. Some banks like Bank of America and Citigroup have touched its lowest value.

The only question which rises in mind is that what President Barack Hussein Obama can do to take the Economy back on its track.

In his Inaugural Address Obama expressed that the economy has been under bad stress and is now weak. He said that there is a fear among Americans that America's decline is unavoidable, so the next generation has to lower its vision. Obama also asked for more "bold and swift" action to restore the wrecked economy.

But the experts are not happy only with the call for action, they are looking for drastic steps like a plan to help to restore the America`s ailing banks.

Obama has said that economic crisis cannot be solved in a quick, it will need sometime. But some market strategist predicted that the new Government’s initiative will show some results for solving its credit crisis and the $800 billion package will stimulate some blood to the dying economy. The market analysts imagining Obama as a positive catalyst who can show us better economy later in the summer. The package cannot beat all the problems but it can heal some of its wounds and can give the market a hope for new life.
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Obama's Biggest Challenge

Obama at helm of America

In his first 100 days as president, Barack Obama has to face many challenges. The recession wrecked, hammered and bruised from the 8 years of Bushism, America has placed great burden of hope on his shoulder.

With 73% favorite rating (most in recent days), Barack Hussain Obama has to do something for everyone. The scale and magnitude of his problems that he is going to inherit can only be matched with the irony “stratospheric expectations”. Among these pressures he is going to face the real situation at White House.

In his first 100 days, to satisfy all who are dreaming him as a ray of hope, will be the biggest challenge for him. The major fronts he is going to face are like economy, foreign policy for Middle East, Iran, Pakistan and Afganistan etc. Lets have a look at his challenges in the financial front.


TARP (Troubled Asset Relief Programme) and ARRP (American Recovery and Reinvestment Plan) will guzzle $1.5 trillion. The experts are also not confident about its outcome, whether it will restore the confidence in the financial system or not. Officially the US Economy has been in recession since the starting of the 2008. Since then 2.6 million people has lost their jobs and the optimists too hope that this situation will also last at least one or two year.

The decreasing housing market and record foreclosures can increase the tension of the Democratic President. Will he be going to spend big to be the instant hit or he choose the middle way? Like- he is going to spend $800 billion to provide infrastructure jobs. Will it be better if he choose to have tax cuts? Will it be better to take long gestation projects like bridges, roads or to take other short-term remedies? He also has to tackle the budget deficit of $1 trillion-plus.
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Mortgage rates touch the record low

30 year fixed rate Mortgage interest rates again fall for the 11th week in a row.

On Thursday the home funding company, Freddie Mac said that in US 30 year fixed rate mortgage interest rate mortgage dropped for 11th week at a stretch to touch a lowest record.

According to Freddie Mac the week ending on 15th January, the interest rate of 30 year fixed rate mortgage was averaged 4.96%. In previous week it was 5%.

This lower mortgage rate has resulted in the deluge for home refinancing loans. People are opting for refinancing to have lower monthly payments and have a respite for the panic stricken consumers from the unemployment, inflation and shrinking economy.

But the huge change in the mortgage rates, haven`t been able to affect much on the demand for home loans. The real estate industry is still not able to get out of the worst housing downturn.
After disclosure of the Federal Reserve`s plan to buy upto $500billion of mortgage securities those are being backed by the government sponsored agencies like Freddie Mac, Fannie Mae and Ginnie Mae. There is also the plan to buy upto $100 billion debt that has been issued by Federal Home Loan Banks, Freddie Mac and Fannie Mae.

Frank Nothaft, the vice president and chief economist of Freddie Mac said that the mortgage interest rate for 30 years fixed rate mortgage is going to record low due to the slowing economy and different government actions.

Since 1971 when Freddie Mac began the Primary Mortgage Market Survey, this is the lowest interest rate for 30 year fixed rate mortgage.

15 year fixed-rate mortgage interest rate was found 4.65% from 4.62% and 1 year adjustable rate mortgage or ARMs has been down slightly to 4.89% from the last week average of 4.95%.
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Online Payday Loans: What You Need To Know About It

Payday LoanIn time of urgency, payday loan can come in handy as the rules and regulations of this loan is somewhat lenient that other types of loan. This is the reason why more and more people are applying for this loan to meet sudden need of hard cash. Payday loan is a short term loan by nature and therefore, the borrower has to repay the entire amount along with the interest within the specific time period. Online payday loans is just its online version. It is an effort by lenders to shorten the approval period. Now, a borrower does not have to waste his valuable time. He just has to search in Internet for gathering valuable information about the various aspects of this loan such as interest rate, conditions, repayment period etc.

While applying for a payday loan, one needs to furnish accurate details otherwise, his application might be rejected.
If you have a good credit report, your applications will certainly get quick approval. However, if your credit report is not impressive, you do not have to feel frustrated because your application for online payday loan will not be rejected. Though you may have to bear slightly higher interest rate than the market standard or you might have to bear some extra terms and conditions.
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Avoid Foreclosure while Paying your Mortgage - Part 2

avoid foreclosureContinuation from the post Avoid Foreclosure Tips 1

3. Let the lender know your situation :-

If you sense that you are not being able to pay the next mortgage payment but still current with the mortgage payments, then contact the lender directly without wasting time. If you have already skipped the payments, then don`t shy away and contact the lender straight away otherwise the problem will never end. Always keep it in mind that every lender wants to avoid the foreclosure. If your lender cones to know about you, then there is a chance of getting out of the problem. Always try to be in touch with the lenders. Some people with unpaid mortgage avoid the mails from their financial lenders. The lender can suggest you some way out also in your first notification mail.

4. Check your salable assets :-

Assess your salable assets also, from where you can have some extra money. Every one has some assets that can be sold such as extra car, jewelry etc. While you are in the verge of being foreclosed, shed off the sentimentality and try hard to avoid being foreclosed.

5. Opt for House counseling service :-

In all the states, there are some organizations that are being financed by US Housing and Urban Development which can counsel at no cost. These services are somewhat like credit counseling organizations which offer to solve credit problems. Some companies are also providing same service but beware of them as at the end they can ask a lump sum amount.

Some people offer you to enter into a contract to avoid not only avoiding the foreclosure but also prevent you from all the measures taken by the lender against you. Be careful from them as in that way you can have to loss your home too…
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Avoid Foreclosure while Paying your Mortgage - Part 1

Foreclosure1Persons with mortgage can sometime face the problem while paying the mortgage. It is a common problem in this bad economy. Millions of people, from all over the world facing the same problem. Behind this there are many reasons like unemployment, price rise etc. But biggest reason behind this situation is irresponsible lenders. Every eye is on foreclosure now.

Are you feeling helpless and worrying about how to pay the next month`s mortgage payment or already skipped some payment? Then you can follow the some steps to avoid the foreclosure by the financial lender. For a lender foreclosure is not the best option, he always try to let you pay your mortgage as per schedule if you willing to pay.

Here are some steps you can follow –

1. Chalk out the budget :-

At first plan your budget first. Try to cut your unnecessary expenditures. Try to check all your expenses and be somewhat cruel to control the expenditure. Luxurious items should be avoided. If you have big amount of credit card debt, then try to postpone the payments as this may be better choice for you while you are focusing on avoiding foreclosure.

2. Check the Loan Documents :-

Have a look at the Mortgage documents and try to find what steps could be taken by your financial lender if you are unable to make a payment. Different states have different foreclosure laws so better to contact your states housing office for this information. You can ask about the time period you get before your mortgage lender take any action against you.

Check the next post for the remaining part of the article...

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