Word: stimulus
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...Companies in New York have told us they are considering moving to Connecticut for lower taxes. We need to keep the state competitive,” said Sawyer. And there’s no guarantee the surcharge will be temporary. For the next two years, federal stimulus money will fund 17 percent of the deficit. Extra credit: What happens when that money disappears...
When Congress passed the stimulus bill in February, it came as both good news and bad news to the Obama White House. The good: never before had an Administration had so much money to spend on voters in need - to rebuild public buildings, save jobs, weatherize homes and fund community health centers. The bad: rarely has the passage of a measure been accompanied by such skepticism about the government's ability to spend the money wisely or well. (See 25 people to blame for the financial crisis...
...ever since, public doubts about the stimulus have, if anything, deepened. The economy deteriorated faster than economists expected, with unemployment now predicted to exceed 10% next year, higher than the White House had projected in January. While that might under normal circumstances make any stimulus more popular, voters have been spooked by the enormous deficits Washington is running up as it tries to right the economy. In 2009 alone, the U.S. government will take on debt equal to about 13% of its economic output, and by 2016 the U.S. debt is projected to top 70% of GDP, twice...
...Everyone guessed wrong.' JOE BIDEN, Vice President, acknowledging that the Administration's $787 billion economic-stimulus plan has failed to reduce the unemployment rate...
Obama has already taken several whacks at waste in energy and health care. His stimulus had more than $20 billion for energy-efficiency measures designed to slash electricity use in low-income homes, on military bases and in all kinds of government buildings, while his fuel-efficiency standards for vehicles are expected to save billions of gallons of gasoline; he's also providing government financing for electric cars, and his cash-for-clunkers program is another assault on gas guzzlers. The stimulus also included $19 billion for computerizing the medical industry, which could reduce duplicative tests and office visits, plus...