Hooray! $30 billion in infrastructure spending over two years for new roads! Oh, and like $800 billion for some other stuff.
Stimulus bill careens through the House with not a single Republican vote - Obama, above, is all like “take THAT”. Not sure it will clear the Senate so easily, but ShamWOW.
Larry Kudlow is trying right now to convince me that the bill as is does nothing but fund food stamps, unemployment, health care and sex ed, and I’d like to find documentation to prove him wrong but I am loath to actually read the bill in question.
Jason // Jan 28, 2009 at 9:34 pm
$30b is really close to the $2t the ASCE estimates it would take to actually fix the national infrastructure.
pants // Jan 28, 2009 at 10:17 pm
the bill includes $275 bn for tax cuts, but I think Kudlow only approves of tax cuts for rich people.
alyx // Jan 28, 2009 at 10:25 pm
There was someone last night on either Kudlow’s show or the show after his who wanted a full $800bn package of nothing BUT tax cuts, including payroll tax holidays for several months – I think those might prolong the demise of some retailers for a little bit, but that’s about it.
If, for some reason, we do end up with payroll tax holidays, I promise I will do my part to stimulate the economy by buying Shamwows for everyone I know.
pants // Jan 28, 2009 at 10:45 pm
yup, I believe, they all seem to be so dead set against government spending, and monetary policy has been maxed out, so tax cuts are about the only option left for republicans to support.
ah Krugman has been so feisty lately and I love it…tonight he says…
“Aren’t you glad that Obama watered it down and added ineffective tax cuts, so as to win bipartisan support?”
Lolo, ESQ // Jan 28, 2009 at 10:50 pm
HOW ABOUT A HAND FOR THOSE ENGINEERS AND THEIR REPORT CARD????
lavacake // Jan 28, 2009 at 11:28 pm
“the bill as is does nothing but fund food stamps, unemployment, health care and sex ed”
which is probably billions less than they spent funding banks and insurance companies as well as buying their worthless assets.
alyx // Jan 28, 2009 at 11:29 pm
^^v. true, I think, if you consider everything shuffled onto the Federal Reserve’s books.
Mark Dowling // Jan 29, 2009 at 9:45 am
Paying people to be unemployed is probably a safer long term bet than giving it to Citibank.
brad // Jan 29, 2009 at 3:55 pm
HA! Love the post…do you think they’ll bring him the plan like a fully cooked pig with cash in it’s mouth??