Some Porkulus numbers…
“The $500-per-worker credit for lower- and middle-income taxpayers that Obama outlined during his presidential campaign was scaled back to $400 during bargaining by the Democratic-controlled Congress and White House. Couples would receive $800 instead of $1,000. Over two years, that move would pump about $25 billion less into the economy than had been previously planned.
Officials estimated it would mean about $13 a week more in people's paychecks this year when withholding tables are adjusted in late spring. Next year, the measure could yield workers about $8 a week. Critics say that's unlikely to do much to boost consumption.”
Wow, what am I going to do with all that money? Maybe I can buy a combo at Burger King. This is ridiculous. If I got paid every week, that would give me about $670 a year. Spread over a year, that is not going to go very far. I could put that extra $13 into a high yield savings account and at the end of the year I would have an extra $673. But then I wouldn’t be stimulating the economy. And that would be unpatriotic.
And then there is this $70 BILLION nugget…
“But nothing could shake negotiators from insisting on including $70 billion to shelter middle- to upper-income taxpayers from the alternative minimum tax …The Congressional Budget Office
estimates that provision will have relatively little impact on the economy.“
I think it’s time to ask Arlen Specter for his GOP membership card. He supposedly helped keep one of his pet projects in the bill.
“Scaling back the bill to levels lower than either the $838 billion Senate measure or the original $820 billion House-passed measure caused grumbling among liberal Democrats, who described the cutbacks as a concession to the moderates, particularly Sen. Arlen Specter, R-Pa., who are feeling heat from constituents for supporting the bill.
Specter played an active role, however, in making sure $10 billion for the National Institutes of Health, a pet priority, wasn't cut back”
And then there is the money designated for mouse habitat protection. Thanks Nancy!
“Lawmakers and administration officials divulged Wednesday that the $789 billion economic stimulus bill being finalized behind closed doors in Congress includes $30 million for wetlands restoration that the Obama administration intends to spend in the San Francisco Bay Area to protect, among other things, the endangered salt marsh harvest mouse.”
Dems were so quick to attack the Bush White House for releasing news information on Friday so it wouldn't get noticed in the slower weekend feeds. Funny how the stimulus information is coming out on a Friday as well. I guess the public only gets 48 hours to comment as both houses of Congress expect to vote on this Monday.