Democrats spend another $155 billion

[Patranus]

By a vote of 217 to 212, the House approved additional spending for "shovel-ready" construction projects and money to avoid layoffs of teachers, police and other public employees.

http://www.reuters.com/article/idUSN1612851020091217

Didn't they all ready pass a $1 trillion *stimulus* bill to do just that?

 

[spidey07]

http://www.reuters.com/article/idUSN1612851020091217

Didn't they all ready pass a $1 trillion *stimulus* bill to do just that?

What's really bad is that "stimulus" bill didn't include any of the good ideas that were originally in it.

1) Increase credit availability for small business
2) Capital gains tax breaks for capital investments on small business
3) Tax credit on small business for hiring (it was only 3K, but that's something)

 

[Genx87]

What's really bad is that "stimulus" bill didn't include any of the good ideas that were originally in it.

1) Increase credit availability for small business
2) Capital gains tax breaks for capital investments on small business
3) Tax credit on small business for hiring (it was only 3K, but that's something)

teachers, police and other public employees

Have to protect those govt unions from the harsh realities of a recession!

 

[heyheybooboo]

The bill would provide $48.3 billion for infrastructure projects that promise to get workers back on job sites by April. Highway construction projects would get $27.5 billion, while subway, bus and other transit systems would get $8.4 billion.

As in the earlier stimulus bill, steel and other products used in these projects would have to come from the United States.

The bill would also help cash-strapped state and local governments avoid layoffs of public employees.

States would get $23 billion to pay 250,000 teacher salaries and repair school buildings, and $1.2 billion to pay for 5,500 police officers.

States would also get $23.5 billion to help pay their share of federal healthcare programs for the poor.

The bill does not include two approaches backed by the White House: increased lending for small business, and funds to make buildings more energy-efficient, but Democrats say they plan to take up additional job-creating measures next year.

The bill also extends unemployment benefits and healthcare subsidies for the jobless for another six months, at a combined cost of $53.3 billion.

--

 

[Modelworks]

It's only money.
We can print plenty of it .

 

[PJABBER]

What is one billion?

According to a recent government publication ...

A billion seconds ago Harry Truman was president.

A billion minutes ago was just after the time of Christ.

A billion hours ago man had not yet walked on earth.

A billion dollars ago was late this morning at the U.S. Treasury.

 

[Patranus]

--

Only something like 20% of the "stimulus" money has been spent. Why not spend that money as it has been allocated to do the exact same thing instead of allocating an entirely new round of spending.....

 

[StageLeft]

All these stimulus packages are are money thrown at states so that the government workers can pretend that we aren't in a recession; per above protect the gov unions.

 

[CycloWizard]

$1.2 billion for 5500 police officers? WTF? That's almost $220,000 each. Are these police officers actually being bought, or did I go into the wrong field? Oh, that's right, it's just the "government discount" - a 300% markup on everything.

 

[Tom]

It hasn't passed the Senate, no money has been spent. And it was passed by the United States House of Representatives, not by "Democrats".

Representatives, elected by the people, have the authority to pass legislation in the House. There are lots of Democrats that are not Representatives.

example
Birds lay eggs. accurate.
Animals lay eggs. inaccurate.

 

[chucky2]

What. The. F*ck.

(In reality we're far past this already, but) At this rate, it's soon going to become patriotic to shoot politicians.

I'm Trillions in debt...I know, I'll spend more?!?!!?!?

Chuck

 

[marincounty]

What. The. F*ck.

(In reality we're far past this already, but) At this rate, it's soon going to become patriotic to shoot politicians.

I'm Trillions in debt...I know, I'll spend more?!?!!?!?

Chuck

Where were you the last 8 years?

 

[chucky2]

Same place. But the last 8 years has been nothing like the past 1 year.

Give me a pardon, and I'd machine gun the whole lot of them. Every. F'ing. One.

BDS'rs, you can have whoever you'd like. Then I'll shoot the rest. It's a deal.

Chuck

 

[PJABBER]

It just keeps getting better.

http://www.washingtonexaminer.com/o...rgeted-to-states-that-need-jobs-79530417.html

Report: Democratic districts received nearly twice the amount of stimulus funds as GOP districts
By: Mark Hemingway
Commentary Staff Writer
The Washington Examiner
December 16, 2009

A new analysis of the $157 billion distributed by the American Reinvestment and Recovery act, popularly known as the stimulus bill, shows that the funds were distributed without regard for what states were most in need of jobs.

“You would think that if the stimulus money was actually spent to create jobs, there would be more stimulus money spent in high unemployment states,” said Veronique de Rugy, a scholar at the Mercatus Center who produced the analysis. "But we don't find any correlation."

The Mercatus Center at George Mason University in Virginia is one of the nation's most respected economic and regulatory think tanks and has a Nobel prize-winning economist on staff. The econometric analysis was done using data provided by Recovery.gov -- the government website devoted to tracking the stimulus data -- as well as a host of other government databases.

Additionally, Mercatus found that stimulus funds were not disbursed geographically with any special regard for low-income Americans. “We find no correlation between economic indicators and stimulus funding. Preliminary results find no statistically significant effect of unemployment, median income or mean income on stimulus funds allocation,” said the report.

The Mercatus Center analysis also found that Democratic congressional districts received on average almost double the funding of Republican congressional districts. Republican congressional districts received on average $232 million in stimulus funds while Democratic districts received $439 million on average.

“We found that there is a correlation [relating to the partisanship of congressional districts],” de Rugy said. Her regression analysis found that stimulus funds are expected to decrease by 24.19 percent if a district is represented by a Republican.

“During the appropriations process, you're not surprised to see the Democrats are getting more money, but in this case a lot of the money we're looking at is going through HUD [Department of Housing and Urban Development], or Department of Education, Department of Transportation etc. and they're following a formula,” she said. “But the correlation exists, and not only does it exist -- when you look at how much money we're talking about, it's a pretty big deal.”

The analysis found that neither congressional leadership positions of local members nor presidential preference in 2008 were factors in stimulus allocation by congressional district.

Finally, the Mercatus analysis shows that a majority of the funds allocated went to public rather than private entities -- nearly $88 billion to $69 billion. While some of the money given to public entities may eventually filter down to the private sector, it's much less transparent how money given to public entities is spurring economic growth and job creation.

An interesting chart and commentary by Veronique de Rugy of the Mercatus Center here...

http://reason.com/archives/2009/12/11/did-the-stimulus-create-jobs

...with only the exceptions of Minnesota and Vermont, the number of jobs lost outpaces the number of jobs “created or saved.” Since February, the economy has shed 3,179,328 jobs while the Administration claims to have “created or saved” 638,825 jobs. This means that, on average, for each job created or saved, over 6 jobs were lost.

A deeper look into the job creation data reveals that most of the jobs were “created or saved” in the public sector. Based on data from Stimulus Watch, we find that of the jobs the administration claims to have created with stimulus funds, only some 140,765 of them were private jobs.

Furthermore, according the Bureau of Labor Statistics, since the passage of the American Recovery and Reinvestment Act private industry has suffered a net loss of 2,610,000 employees (or 2.3 percent of total private employment), while the government has only lost 46,000 employees from its payroll (or 0.2 percent of total government employment). In other words, most of the job losses occurred in the private sector rather than in the public sector. This means that on average, the number of private jobs lost for every private job created is far greater than 6...

 

[Ausm]

GOP troll threads you have to love them but in reality it's the trolls party who made most of the deficit...oh the irony.

 

[Doc Savage Fan]

GOP troll threads you have to love them but in reality it's the trolls party who made most of the deficit...oh the irony.

Politics aside...is extremely high deficit spending a good thing or a bad thing?

 

[Patranus]

GOP troll threads you have to love them but in reality it's the trolls party who made most of the deficit...oh the irony.

I forget, which party has been in control of the purse strings since 2006?

 

[Tom]

Same place. But the last 8 years has been nothing like the past 1 year.

Give me a pardon, and I'd machine gun the whole lot of them. Every. F'ing. One.

BDS'rs, you can have whoever you'd like. Then I'll shoot the rest. It's a deal.

Chuck

Your comments are unworthy of Anandtech, or America.

 

[Genx87]

GOP troll threads you have to love them but in reality it's the trolls party who made most of the deficit...oh the irony.

You'd be best served not visiting these threads and resume sticking your head in the sand.

 

[chucky2]

Your comments are unworthy of Anandtech, or America.

Well Tom, I know, it'd be a bad thing to do. Unfortunately, for the good of the country, it'd be better than letting Congress continue on as they are.

Kill 1000* to save 300+ Million.

*The 1000 are not Innocents, they're the POS's that have had major participation in creating, and worse, furthering the decline.

Sounds acceptable to me.

Chuck

 

[Ausm]

You'd be best served not visiting these threads and resume sticking your head in the sand.

Can't handle the truth? You must be a birther...

 

[Genx87]

Can't handle the truth? You must be a birther...

Yeah that is what I am, a birther eventhough I have mocked that movement repeatedly on this very msgboard. You got me.

btw what truth are you referring to anyways?

 

[Ausm]

Yeah that is what I am, a birther eventhough I have mocked that movement repeatedly on this very msgboard. You got me.

btw what truth are you referring to anyways?

Referring to your original comment to one of my posts you have short term memory loss too? I'll give ya a clue scroll up 4 threads.

 

[Genx87]

Referring to your original comment to one of my posts you have short term memory loss too?

Your inane comment about this being a troll thread? I figured you had something more interesting when you said I couldnt handle the truth. Personally I could give a rats ass your opinion on this thread. I was only making a suggestion your life would be more blissful if you resumed sticking your head in the sand and ignore these threads.

 

[fskimospy]

Well Tom, I know, it'd be a bad thing to do. Unfortunately, for the good of the country, it'd be better than letting Congress continue on as they are.

Kill 1000* to save 300+ Million.

*The 1000 are not Innocents, they're the POS's that have had major participation in creating, and worse, furthering the decline.

Sounds acceptable to me.

Chuck

Calling for the murder of Congress sounds pretty vacationable to me. You seriously need to take a break from politics and get some perspective.