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Senate Economic Stimulus Bill: $750+ in Spending Per U.S. Family

A cost estimate for the Senate economic stimulus bill has been released. It comes in at a little over $750 in spending per U.S. family. That’s about $240 per person.

The estimate is incomplete. It “does not include potential net costs under title VI, which would require the Secretary of the Treasury to use existing funds for the Troubled Asset Relief Program (TARP) [i.e., the bailout] to provide $25 billion in direct loans to automobile manufacturers and component suppliers.”

The bill includes $5.7 billion in unemployment insurance outlays, something of keen interest to followers of the unemployment extension bills, H.R. 6867 and S. 3507.

Here’s the current vote on S. 3689, The Economic Recovery Act of 2008. Click to vote, comment, learn more, or edit the wiki article for the bill.

Visitor Comments for Senate Economic Stimulus Bill: $750+ in Spending Per U.S. Family RSS 2.0

YLK

Unemployment isn’t the real problem. There has to be a social security pension increase to levels that are the same as the average wage. There also has to be an investment in programs for those who are not working.

Unemployment will run out and there needs to be a program for those who aren’t employed when it does.

3 trillion dollars could take care of all these problems for 20 or 30 years.

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