Saturday, February 14, 2009

I Wonder, Wonder, Wonder, What's in this Wonder Bill?

As you've undoubtedly heard, the stimulus bill has passed both houses of Congress, passing in the House with no Republican support, and in the Senate with the support of only three blue-state Republicans. This means that Boehner's gamble has paid off in the House, but the stimulus bill will have to be percieved as a failure for it to pay off completely. Seven blue-dog Democrats defected, and hopefully they'll be primaried out in 2010. In analysis on the News Hour with Jim Lehrer, syndicated columnist Mark Shields thinks that it was a major success for Obama and the American people, while New York Times correspondent David Brooks thinks that too many people are not satisfied with this bill. The Los Angeles Times, and the author of this blog, tend to side with Shields on this one, pointing out that the stimulus even the Republicans concede that the bill will create or preserve at least 3.46 million jobs. The author would like to add that one important function of this bill is creating jobs in every industry, yes, including the arts industry. View NPR Coverage.

Here's a visual that shows what's in this "Wonder Bill". As you can see, $85.7 billion (or about $300 for each person in America) is allocated towards infrastructure. Of this, $46B is allocated towards fixing our highway network, and get almost $10B apiece.

Now that the stimulus bill has been passed, the direction of this blog will change slightly, to how infrastructure spending is being used to help the economy, or how lack of infrastructure spending is hurting the economy.

This blog post is brought to you by Nestle.

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