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House Passes Stimulus Package
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The House passes the $819 billion tax and spending bill. Every Republican in the House voted against the bill in the 244-188 vote. Most of the money to be spent of about $526 billion will be spent in 2009 and 2010, though some spending on student loan programs, clean water projects and housing assistance will carry over into future years. To help workers with the downturn $27 billion will go to continue unemployment insurance benefits till December 31, 2009. $9 billion will go to increase the current benefit from $300 to $325 per week. This is money that will be spent as workers lose jobs. The bill also lets former employees to get COBRA coverage, It funds 65% of individual's premiums for upto 12 months. And workers over 55 or with more than 10 years service will get to keep their COBRA coverage until they get a new job or get Medicare. A big departure is allowing those who are unemployed enroll in Medicaid, and Medicaid will temporarily expand to include millions of unemployed workers. See the link to Education spending for the $125 billion going into Education spending that will save the jobs of hundreds of thousands of teachers and create jobs for construction as schools are repaired and renovated.
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How only $144 billion of the $825 billion U.S. 2008-2009 Stimulus adds value to the economy, the rest increases U.S. Debt
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U.S. Stimulus spending and meeting long term sustainability goals and short term job goals.
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Reconciling short term job goals and longer term goals to build an America in which we live and work with sutainability in mind for a global economy/ and build education and infrastructure to compete in a global economy.
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Obama Calls for $50 Billion Public Works Plan
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Impact of U.S. Stimulus spending
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