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House Democrats ready $825 billion stimulus bill ( GOP offers own plan as price tag of Democrats'...
Marketwatch ^ | 12:11 p.m. EST Jan. 15, 2009 | Robert Schroeder, MarketWatch

Posted on 01/15/2009 9:45:26 AM PST by Ernest_at_the_Beach

WASHINGTON (MarketWatch) -- House Democrats, with the blessing of President-elect Barack Obama, are preparing a massive $825 billion economic stimulus bill loaded with federal spending and tax cuts, a more expensive package than initially estimated that is likely to face Republican criticism.

The bill contains $550 billion in federal spending and $275 billion in tax cuts, but the numbers are subject to change. Read a summary.

Democrats are seeking to spend $90 billion on highway, transit and other public-works projects, which they say will spur job creation.

The bill also contains $102 billion aimed at helping workers find new jobs and retaining employer-provided healthcare.

It also preserves a $500-per-worker and $1,000 per working couple tax credit, a key priority of the incoming Obama administration. Read a summary of the tax provisions.

House Majority Leader Steny Hoyer said Wednesday that House committees will begin work on the stimulus bill next week. Obama and Democrats want Congress to approve a bill by mid-February.

Republicans offer alternative

Conservative House Republicans introduced a stimulus bill of their own on Wednesday that focuses largely on tax cuts and excludes the government spending that Obama and Democrats favor.

Obama has said he will listen to ideas about the stimulus plan but has stressed that quick action is necessary to jump-start the economy.

"President-elect Obama correctly recognized last week that the monopoly over strong ideas does not belong to just one party," said House Republican Whip Eric Cantor on Thursday.

Cantor is holding a hearing to discuss the Republican bill Thursday.

(Excerpt) Read more at marketwatch.com ...


TOPICS: Extended News; Government; News/Current Events; Politics/Elections
KEYWORDS: 111th; bailoutnation; bailouts; bhostimulus; pelosi
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1 posted on 01/15/2009 9:45:27 AM PST by Ernest_at_the_Beach
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To: Ernest_at_the_Beach

Aw come on. Let’s stop kidding the citizens and just make it a Trillion or Two.

You know you want to!

You know you will!


2 posted on 01/15/2009 9:48:19 AM PST by OpusatFR (We can give up any pretense of having a government for and by the people after Coronation Day.)
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To: Ernest_at_the_Beach

10 billion for you, 100 billion for me, 10 billion for you, 100 billion for me....I know when Im broke the best way to not be broke anymore is to max out all my credit cards, yeah that always works.


3 posted on 01/15/2009 9:48:58 AM PST by Edizzl79 (you want my guns..come and get em...I dare ya....)
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To: Ernest_at_the_Beach

“Conservative House Republicans introduced a stimulus bill of their own on Wednesday that focuses largely on tax cuts and excludes the government spending that Obama and Democrats favor.”

Sounds like a great plan! It would be a miracle if they pass it, but I bet the ‘Rats just wanna spend, spend and spend!!!!

Obama is crazy if he thinks that massive spending is going to “jump-start” the economy.


4 posted on 01/15/2009 9:49:02 AM PST by wk4bush2004 (SARAH PALIN, 2012!!!!!!!)
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To: Ernest_at_the_Beach

Tax credits, not tax cuts. The marginal rates will remain the same.


5 posted on 01/15/2009 9:49:39 AM PST by kabar
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To: wk4bush2004

The funny thing is how the libs are all excited about spending for highways. If Bush had suggested building highways, all we would have heard about was increased greenhouse gases from all that extra traffic.


6 posted on 01/15/2009 9:52:59 AM PST by j. earl carter
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To: Ernest_at_the_Beach

This is BS and the Democrats know it, they are giving the unions 1/2 trillion dollars to elect Demmocrats to office.

The Big Dig up in Boston is a classic example of this, sub-par work, manhours lost and massive cost overruns. If there are any brave Conservatives left in Washington they need to oppose the Democrat Plan and Obama, since this will end up costing the American Taxpayer 3-3 trillion dollars in the end and elect more Democrats to office.


7 posted on 01/15/2009 9:59:04 AM PST by Trueblackman (Terrorism and Liberalism never sleep and neither do I)
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To: j. earl carter
“The funny thing is how the libs are all excited about spending for highways.”

It kinda makes you question the IQ of the idiots that vote for RATS.

How many of the welfare queens think they will be getting jobs as heavy equipment operators building roads?

8 posted on 01/15/2009 10:03:24 AM PST by Beagle8U (FreeRepublic -- One stop shopping ....... Its the Conservative Super WalMart for news .)
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To: OpusatFR; Edizzl79; wk4bush2004; kabar; j. earl carter; rabscuttle385; NormsRevenge; Grampa Dave; ..
From the offical Democrat package for the reporters...it is a PDF file so getting to they system here may result in less than plesant formatting:

*******************EXCERPT************************

COMMITTEE ON APPROPRIATIONS

DAVE OBEY (D-WI), CHAIRMAN

For Immediate Release

Thursday, January 15, 2009

Contact: Kirstin Brost, 202-225-2771

SUMMARY: AMERICAN RECOVERY AND REINVESTMENT

Action and Action Now!

The economy is in a crisis not seen since the Great Depression.

Credit is frozen, consumer purchasing power is in decline, in the last four months the country has lost 2 million jobs and we are expected to lose another 3 to 5 million in the next year.

Conservative economist Mark Zandi was blunt: “the economy is shutting down.”

In the next two weeks, the Congress will be considering the American Recovery and Reinvestment Bill of 2009.

This package is the first crucial step in a concerted effort to create and save 3 to 4 million jobs, jumpstart our economy, and begin the process of transforming it for the 21st century with $275 billion in economic recovery tax cuts and $550 billion in thoughtful and carefully targeted priority investments with unprecedented accountability measures built in.

The package contains targeted efforts in:


9 posted on 01/15/2009 10:06:19 AM PST by Ernest_at_the_Beach (No Burkas for my Grandaughters!)
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To: Ernest_at_the_Beach
Can the 800 billion stimulus garbage, and suspend taxes on businesses for a year. Make America a free enterprize zone for a year and we'll be far better off.
10 posted on 01/15/2009 10:07:59 AM PST by mainerforglobalwarming
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To: mainerforglobalwarming
Look at this.....

$16 billion to repair public housing and make key energy efficiency retrofits.


11 posted on 01/15/2009 10:13:44 AM PST by Ernest_at_the_Beach (No Burkas for my Grandaughters!)
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To: Ernest_at_the_Beach
• Clean, Efficient, American Energy

How do they expect us to do that without drilling?

12 posted on 01/15/2009 10:14:19 AM PST by Allegra
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To: All

$6 billion to expand broadband internet access so businesses in rural and other underserved areas can link up to the global economy.


13 posted on 01/15/2009 10:15:02 AM PST by Ernest_at_the_Beach (No Burkas for my Grandaughters!)
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To: Ernest_at_the_Beach

Great. I’m not going to be able to take this crap for 8 years or or 20 depeneding on how long the courts allow Obama to serve as president. Maybe, God willing, I can have a massive heartattack soon and be put out of my misery.


14 posted on 01/15/2009 10:15:50 AM PST by mainerforglobalwarming
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To: Allegra

They are going to put up more wires to the windmills.


15 posted on 01/15/2009 10:19:26 AM PST by Ernest_at_the_Beach (No Burkas for my Grandaughters!)
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To: All

State Education and Other Budget Priorities: $120 billion to states and school districts to stabilize budgets and prevent tax increases and deep cuts to critical education programs, including:


16 posted on 01/15/2009 10:20:22 AM PST by Ernest_at_the_Beach (No Burkas for my Grandaughters!)
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To: Ernest_at_the_Beach

Well Im part of the 7.2%, glad to hear that our government pretends to give a chit about me.


17 posted on 01/15/2009 10:20:56 AM PST by Edizzl79 (you want my guns..come and get em...I dare ya....)
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To: Allegra

This has a large component for WPA type projects...


18 posted on 01/15/2009 10:21:32 AM PST by Ernest_at_the_Beach (No Burkas for my Grandaughters!)
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To: Ernest_at_the_Beach
Oh, look! Here's another one of his "economic stimulus" initiatives!

Check this scary stuff out.

19 posted on 01/15/2009 10:27:26 AM PST by Allegra
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To: Edizzl79
I know when Im broke the best way to not be broke anymore is to max out all my credit cards, yeah that always works.

I maxed mine out and now am on cash only. I'll deal with the Credit Card Banks in the future, but I'm not paying them a penny right now. I might settle for a penny on the dollar up to ten cents on the dollar . . . but the BANKS got their TARP/Bail-Out and they had the opportunity to wipe out everyone's credit card debt and instead they used the money to purchase another bank. That's not what they led us to believe they were going to do. They led us to believe they'd be helping their mortgagees and they "lied" --- wow, banks lie, who'd a thunk?
20 posted on 01/15/2009 10:30:44 AM PST by HighlyOpinionated (The American Form of Government . . . http://www.flixxy.com/political-systems.htm)
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