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Showing posts with label Stimulus Package. Show all posts
Showing posts with label Stimulus Package. Show all posts

The House has Passed the Stimulus Package of $819 Billion - 3

Posted by Jim Sunday, February 1, 2009 0 comments
Debt burden on federalAs a result of this package already record breaking cash deficit will reach 10-12 % of GDP in the year 2009-10. Due to the gigantic volume of the package and some long lasting programs, the cash deficit can be double of the previous peace time record.

The Federal debt can touch 100% of the gross domestic product. Since the World War II this is unprecedented and now US is in the same league of Italy (debt touches 104% of the gross domestic product).

The Democrats are trying to gather public support before the next week Senate vote. Barack Obama also expressed that its not good to do nothing in the time of economic turmoil. Now every one is eager to find out whether the burden of the stimulus package make the US into a debt burden country or be able to get out of the economical downturn?

For the complete story check the previous posts Part 1 and Part 2

Have a look at the stimulus package chart to know more about the statewise distribution of the Stimulus Package
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The House has Passed the Stimulus Package of $819 Billion-2

Posted by Jim 0 comments
Funny side of stimulus package
$125 billion is also to be spend to reinforce the public education. Normally the education sector is left for the state and regional government but this time federal government is also keen in the sector. $20 billion is going to be spend for the renovation of educational institutions. To avoid the lay offs in education sector $79 billion is to be given to the states. $13 billion has been proposed as extra fund for the high poverty areas. For special education programs $13 billion has been proposed.

To repair and construct the public housing, $5 billion has been proposed to spend. To help the unemployed persons during the financial meltdown $27 billion is to be spend as unemployment benefit. The unemployment benefit is being increased from $300 to $325 per week with the help of extra $9 billion. This plan is going to allow the unemployed to enroll in Medicaid (Health Program serving the poor). For the short time this will allow millions of unemployed workers to get the benefits of Medicaid.

The Democrats from the House and Senate are trying to have major changes in the legislation to help the unemployed due to the foreign competitions. The Trade Adjustment Assistance program that was formed in 1962, will be expanded to cover many more types of workers. The house bill will give 52.5% of fund through the normal annual Medicaid disbursements and the rest will be given under new bonus program to help the states with high unemployment rates.

Check the next part
First part of the report is available The House has Passed the Stimulus Package of $819 Billion-1
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The House has Passed the Stimulus Package of $819 Billion-1

Posted by Jim 0 comments
On 28th January the House has passed the tax and spending bill of $819 Billion to fight with the recession. This will broaden the federal government’s reach in the American economy by reforming the strategies on Health, Energy, Education, Social programs etc. This bill is almost equal to complete yearly expenditure of federal, under Congress’s approval. Senate is also preparing to pass a similar package which is also of almost $900 billion.

These will result in federal government’s debt in its peak since the World War II. The House bill represents Barack Obama’s view that America is in crisis and has to work beyond "stale political arguments".

The money will be spend on some projects like- clean water projects, student loan program and housing related assistance etc. The bill will help the unemployed to get medical benefits and can expand the use of renewable energy. $335 million will be spent on STDs (sexually transmitted diseases). $50 million will be given for the Arts. National Oceanic and Atmospheric Administration will get $70 million from The Senate bill to buy a supercomputer. $75 million will be spent for smoking awareness programs.

This approach to boost economy is contradictory to the Bush Administration’s approach. The Bush Administration tried to save the economy by putting more money in the middle and upper class people’s pocket through tax cuts. Obama is spending $275 billion giving tax relief to the families belonging to the lower income group. To encourage the job creation, business incentive has also been planned. The bill has expands the coverage of the unemployment insurance for the part-time workers.

Check the next part of the article here

To see the complete details on statewise distribution of the Stimulus Package check this.
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Statewise Distribution of the $819 Billion Stimulus Package

Posted by Jim Friday, January 30, 2009 0 comments
































































































































































































































































































































































































































































































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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