Steve Conley's Blog

Stimulous package

PRESIDENT OBAMA will sign his economic stimulus bill tomorrow in Denver, putting into law $787 billion worth of spending he hopes will jump start the economy.    The bill is more than 17-hundred pages and no one in Congress read it all.    If you have some time to kill, (HERE) is a somewhat detailed list of the spending side of the stimulus package, and (HERE) is the tax side of things.    Still on the agenda: The federal budget bill, the next request for bank bailout funds and supplemental funding for the war in Afghanistan and Iraq. Analysis: This is uncharted territory. You can sell all you want but no one can guarantee this plan will work, and you can naysay all you want but no one can guarantee this plan will fail.    About the only sure thing you can predict is what supporters and detractors will say and continue to say as they spout their tired talking points --again. (See, for instance yesterday's Sunday morning talk shows.)    Meanwhile, nearly every economist thinks the economy is going to get worse before it gets better, so it's a safe bet the detractors will say that the plan failed and supporters will say it needs more time --especially as we get closer to 2010, the year of midterm elections when Republicans hope they'll be able to get back some seats in Congress. What, you don't think that's what this is really about?    The White House continues to temper expectations, warning that the economy has not yet reached bottom and that increased economic activity as a result of the legislation would "take time to show up in the statistics."    (sc)

02/16/2009 4:20AM
Stimulous package
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