Word: stimulus
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...course, given how little money Democrats have left to play with, any kind of second stimulus would have to provide a big bang for the buck. House and Senate leaders are looking at combining extensions of unemployment insurance, food stamps and health insurance for recently laid off workers (known as COBRA) with infrastructure investments and money for clean-energy projects. The Obama Administration has resurrected a proposal the President campaigned on: a $3,000 tax credit per new hire for small businesses, an idea that was dropped from the first stimulus because it would've been too easy for employers...
...Many Americans, and surely most Republicans, may wonder how it is that Congress is crafting a new stimulus plan less than a year after it passed a $787 billion spending package. And it's not as if that effort has been deemed a failure, or even completely used, for that matter. Less than $200 billion of it has been spent thus far, though money continues to go out the door at a steady pace. The Congressional Budget Office credits the bill with increasing U.S. GDP between 1.2% and 3.2% and estimates that it has created or saved between...
...Another factor driving the calls for a second stimulus is that nearly 90% of the original stimulus money targeted for infrastructure projects will have been spent by May, and the Highway Trust Fund could be running a shortfall in June, says House Transportation Committee chairman James Oberstar. "[It] means, unless we do something about it, we'll start losing jobs instead of creating jobs in the construction sector," he says. For that reason, one part of a proposed jobs bill would subsidize 30 states that are unlikely to meet their annual highway commitments next year and would...
...another downturn in the economy, and to tame the runaway yen, now at 86 yen to the dollar compared to 93 a year ago. On Nov. 27, the dollar fell to a 14-year low against the yen, triggering concerns that the currency could start to unravel progress that stimulus spending has made on the economy this year, in part by wreaking havoc on export competitiveness. (See the top 10 colorful spouses, including Miyuki Hatoyama...
...without unfortunate consequences—many attach an important sentimental value to hard copies of books that cannot be replicated in equally massive, but electronic, collections. But we already possess large stores of physical texts that will not be abolished by library reforms; the “profound stimulus to the imagination” of walking through the Widener stacks described by English Professor Robert Scanlan will not be a victim of reforms. However, the concerns of students whose work relies on having physical copies should be taken very seriously so as not to hamper important niche fields of study...