Win $100 in Our Economic Stimulus Contest!
UPDATE II!: The winners have been announced!
UPDATE!: Entries are now closed. We’ll announce a winner very soon! Keep checking back. (Feel free to continue commenting, of course . . . .)
In the next two weeks, Congress will consider economic stimulus legislation that will spend something in the range of $825 billion – about $8,800 per U.S. family, or $2,800 per person in the United States.
The bill has been posted online, so we have a chance to see where the money will go. We should give some thought to how well it will do the job of stimulating the economy.
So WashingtonWatch.com is sponsoring a contest to determine how well or how poorly this spending will do at stimulating economic growth.
Your goal is to identify spending in the economic stimulus bill that will do a really good job of stimulating the economy, or a really bad job. A $100 prize will go to the best comment identifying good stimulus spending – the spending that will do the most to get the economy on its feet – and another $100 to the best comment identifying bad stimulus spending – spending that will just fall in a hole or even make the U.S. economy worse.
Take any part of the stimulus bill and write a short case for why it’s good or bad. (Recommended: search the bill for “$” – there are more than 350 of them.) Pick anything – from an entire government department to the smallest program. You can even pick a non-spending provision in the bill that you think will do good or bad.
Entries are limited to 150 words, and they will be judged on clarity, persuasiveness, creativity, and originality. You don’t have to be an economist – if you are, you really must avoid being boring. If it takes a haiku or an infomercial-style pitch to make your case, do it.
Winners will be announced here on the WashingtonWatch.com blog at a time that makes sense – probably when the bill goes to either the House or Senate floor.
Making your best case about good and bad in the stimulus bill can improve your personal economy by $100.
Good luck!
Update: Special note: You must include your accurate email or Web site with your entry comment in order to claim your prize!
Kristina Rasmussen
Out of the $550 billion “stimulus” spending plan, $30 billion is dedicated to highway infrastructure while $10 billion is marked for transit/rail.
If we look at which transportation mode people actually use, it is clear that Congress is heavily favoring the proportionately small number of rail/transit users.
According to the Bureau of Transportation Statistics, in 2006 folks logged 4.7 trillion passenger miles on highways. In comparison, we logged just 32.3 billion passenger miles on rail.
32.3 billion is less than 1 percent of 4.7 trillion. Yet the funding ratio is 75 percent roads and 25 percent rail – a major mismatch with reality. Sorry, drivers.
Something else to keep in mind: According to the National Transit Database, the average transit system covers only 40 percent of its costs from fares. In the rush to build new transit, we’d better prepare ourselves to cover the cost of future operating subsidies. Brilliant.
WashingtonWatch.com Digest - January 19, 2009 - The WashingtonWatch.com Blog
[...] Win $100 in Our Economic Stimulus Contest! [...]
Gerald D. Wolfe
The voluminous nature to this bill invites fraud, lying and manipulation. There are certainly enough words to allow for significant loopholes in application for and reporting of results in getting this money for a project. It is accurately true that “When there are many words, transgression is unavoidable, but he who restrains his lips is wise”. This bill, even in a cursory reading, does nothing or very little, to address the value of the dollar in international and domestic markets, securing financial viability of small businesses or encouraging individuals to make use of their own initiative to move into the future without someone providing a handout to them. If we want to provide jobs for workers, instead of giving a handout, make the government smaller and the small business community much more viable. I believe the entire “bailout” position is doomed to failure in the long term.
Creative Stimulus Analysis Online | Blogging Hope
[...] WashingtonWatch.com has launched a stimulus watching contest: Your goal is to identify spending in the economic [...]
Russ
If we give every man, woman, and child a portion of this stimulus package money, are economy would be back on track within one month. Everyone would payoff their debt and/or purchase things they need or want. This would be enough to offset any “stimulus” package the so called “congress” could spend….
Jody
It’s an absolute travesty that there is no funding for stimulus contests in the stimulus bill.
Think of all the creativity (and jobbbsss!!! and contest infrastructure!!!) that could be spawned if a mere $1 billion was allocated to writing short essays on the stimulus. With 50% allocated to contest administration, 40% to prizes, and 10% to the man who caught this horrible oversight, I’m certain this piece of the stimulus would’ve been spent far more effectively than anything else in the bill.
Of course, this is overshadowed by the even greater oversight that there is no line item in the bill directing funds to me to disperse through the Human Fund.
Graham
As economist Gary Becker points out, many of the well-intended infrastructure investments mandated in the stimulus bill are probably going to end in wasteful spending. I am hardly ever an advocate of increased government intervention. However, I want to argue in favor of a subsection in Title IX appropriating increased funds for green job training. The Apollo Alliance reports that approximately three million jobs will be created over the next decade in the green energy industry. Most of these jobs would be middle-skill work (think electrician-cum wind turbine technician). Additionally, the Workforce Alliance cites a current gap between supply and demand of middle-skill labor that will widen by 10 to 15 percent by 2014 in favor of demand. Here is an opportunity for the government to make a productive investment in a sector that has a diminished argument for private sector investment, especially in the absence of high gas prices.
Obama Endorses WashingtonWatch.com Economic Stimulus Contest! - The WashingtonWatch.com Blog
[...] Win $100 in Our Economic Stimulus Contest! [...]
D. Sean
Title IX, Subtitle A, Sec. 1, Pt. 2 says “$1,200,000,000 for grants to the States for youth activities”
What next, $1,000,000 to buy X-boxes to keep kids off drugs and to spur the economy by financing Microsoft.
We have almost $11 trillion in U.S. gov’t debt and we already owe $101 trillion for future Social Security and Medicare benefits. What’s another $1.2 trillion in stimulus?
Insert you favorite stimulus project in the following phrase:
[Blank] project in the stimulus bill is just beating a dead horse. If $11 trillion and $101 trillion is not enough, let’s beat that horse a little more to get another $1.2 trillion out of him.
Robert Olson
Re: SEC. 1108
-$25 million allocated for oversight
-60% spending=$495 billion
-.005% for oversight
FY 2007:
GAO Budget: ~$480 million
US Budget: $2472 billion
Percentage for oversight: .02%
So, fiscal stimulus is MORE likely to generate waste, but we will allocate LESS to oversight.
I think that’s bad.
David Caddock
Just picking one section at random (since almost all of them are bad), the section entitled WIRELESS AND BROADBAND DEPLOYMENT GRANT PROGRAMS is particularly bad. Seriously bad. Nearly Three Billion Dollars Bad.
With little or no government guidance or money, our nation has developed an amazingly sophisticated and highly functioning network to deliver broadband data to almost every home in this country. How does the government think it can do a better job at deploying internet connections than companies who have a profit motive to do the same? The only thing they could possibly do is pick winners and losers in the internet game, instead of letting consumers decide what’s the best internet connection they can afford. Don’t force me and the rest of this country to pay for something we don’t want or need!
Get Washington out of “business”, and watch businesses thrive.
8
(1) $2,000,000,000 shall be for expenses necessary for energy efficiency and renewable energy research, development, demonstration and deployment activities, to accelerate the development of technologies, to include advanced batteries, of which not less than $800,000,000 is for biomass and $400,000,000 is for geothermal technologies.
This bill is a pile of $#!* and since most of this money will be flushed down the toilet anyway, while not spend it on efforts to recycle this waste into alternative energy?
liberty
For help in reading and understanding the stimulus bill (Congressional bills are never easy to read!), people here might like:
http://readthestimulus.org
James
$650M to encourage people to upgrade TV’s from analog to digital.
Wow.
This spending does not stimulate the economy.
When the analog signal is turned off, if people still want to watch TV via antenna, they’ll buy a digital TV. Let’s be clear. Without the money, they will Buy. TVs. Anyway.
We don’t need to spend $650M to subsidize marketing for cable companies and TV manufacturers.
Ask your congresspeople to strike this spending from the bill.
babar
Wouldn’t we stand a better chance of success if we called it a “surge”?
John
” . . .not less than $335,000,000 shall be used as an additional amount to carry out domestic HIV/AIDS, viral hepatitis, sexually-transmitted diseases, and tuberculosis prevention programs, as jointly determined by the Secretary and the Director”
While STD prevention is a serious and worthwhile issue, who will benefit from $300 million for “prevention programs”? First of all, what will this spending consist of? Paying people to pass out condoms? Telling sex-ed teachers to do their jobs? Second of all, how does one get their hands on this money . . er . . . get one of these “prevention” jobs? It seems to me that this is simply a net transfer of over $300 million to friends of government employees and officials.
babar
i wonder whether the government can encourage people to spend by funding a lottery ie for every dollar you spend there is a miniscule chance of winning $1M.
Ray Costanza
Instead of some crackpot stimulus that will only line the pockets of the big corporate donors and bank vaults, why not do something smart by declaring a 5 month tax holiday. That means each and every American gets to KEEP his/her ENTIRE paycheck. People will spend the extra dollars THEMSELVES to boost the economy. Whether it is to buy food, oil, or pay down debts. The money will be under the PEOPLE’S control, the PEOPLE’S choicees, not the Government. It wil also show the American people how wasteful Government is when they see how much they are actually giving. You want to see people take control? This is the best way.
Ben
We need publicly-supported info highways
For the same reasons as we need public byways
For our folks on the go
Public wi-fi will show
More returns than to ride the trains idly.
Bobby
Instead of giving money to the populace hoping they wont pay their bills with it, why doesn’t the government just spend the money down at walmart and give the stuff to the salvation army. 2 birds with one stone.
Sean O'Brien
The first set of ordinances under the “Department of Housing and Urban Development” heading of the Stimulus Bill is “Public Housing Capital Fund”. This section addresses the Five Billion Dollars that will be dedicated to the refurbishment and upgrading of government rental units, particularly ones which are currently vacant. Like thrusting the sleeping pills into a manic-depressive’s hand, this increase in cheap, livable rentals will push many people who may have otherwise considered purchasing a house at current depressed prices or sticking it out in their current home over the edge into abandoning the idea of ownership. This exodus will chip at the few remaining props of housing prices and lengthen and deepen the collapse of confidence which is pushing bank after bank off of the edge and into the safety net of government bailouts. We are spending money in one area to make more spending necessary in another.
Sean O'Brien
Corruption is rife already.
But we spend dough on an economy unsteady.
Three month doubling of agency budgets,
Will make the accountants fudge it,
Our state will soon be honest as Zimbabwe’s
Mario
The act specifies that none of the funds distributed to states can be used to help students attend private schools, which is extremely short-sighted. With families cutting expenses, we can expect a much larger public school population than in previous years which will put further strain on state and local budgets. If states could use some of the stimulus funds to defray a fraction of private school cost for interested families, we could decrease the burden on public schools while increasing the per-pupil public school spending. For example, if you can find a family willing to spend $7,000 on education that costs $10,000 (public or private), it makes much more sense to pay the extra $3,000 to the private school than the full amount in the public school.
WashingtonWatch.com Digest - January 19, 2009 | Blogging Hope
[...] can win $100 in the big economic stimulus contest, announced this morning on the WashingtonWatch.com blog. Identify spending in the economic stimulus bill that will do a really good job of stimulating the [...]
Obama Endorses WashingtonWatch.com Economic Stimulus Contest! | Blogging Hope
[...] a line in his inaugural address struck me as calling for something like we’re doing with our offer of $100 each to the people who call out the best and worst in the economic stimulus bill. The question we ask today is not whether our government is too big or too small, but whether it [...]
TP
TSA Haiku:
Five hundred million
Security Theater
Spending is wasteful
Better equipment
Only serves to keep hidden
The ongoing farce
Listerine screening
Is absolutely useless
Regardless of cost
(Inspired by Title
VII of Stimulus Bill;
apologies Bruce)
Special Guest Judge Joins Economic Stimulus Contest! - The WashingtonWatch.com Blog
[...] Win $100 in Our Economic Stimulus Contest! [...]
Special Guest Judge Joins Economic Stimulus Contest! | Blogging Hope
[...] are flowing in to our economic stimulus contest. You can win $100 for doing the best job of calling out good and bad in the economic stimulus [...]
Shari C.
$650 million for digital TV converter boxes! Are you kidding me? Are there really so many Americans living in the dark ages of television that the government thinks it will actually be stimulating the economy with this plan? I would think that the money could find a better use. Besides, if you actually don’t have a relatively new TV, cable or dish, is it really the government’s job to bail you out so you can recieve a digital signal? Maybe they should just make the boxes cheaper and a coupon and stimulus wouldn’t be necessary!
Tracking the Stimulus and Promoting Transparency — FR33 Agents
[...] that WW is offering a stimulus of their own by (or at least enough for a power lunch for two in DC) awarding $100 to the person who can most creatively describe whether any particular part of the new $825 billion [...]
Kevin Cabral
We’re told that the stimulus bill is investing in infrastructure for America’s future. But did you know that Section 2001 of the stimulus will increase food stamp benefits by 13.6% and remove all work requirements for getting food stamps?
That would amount to a minimum of $5 billion in additional spending going literally down the hatch. Moreover, waving Section 6(o)(2) work requirements means that even people who don’t work or work less than 20 hours a week will be eligible. This will sky-rocket the costs of the program as more people collect benefits.
Picking on food stamps sounds harsh but increasing benefits which encourage people to work less and earn less income is about the worst thing to do in a recession. The program already does this: enrollment increased 32% and payouts grew 58% over the last 5 years despite the economic boom!
Just say no to food stamps, “the anti-stimulus.”
The anti-stimulus… « bits+thesis: kevin cabral’s blog
[...] 22 01 2009 The draft text of the House’s stimulus plan has been released and WashingtonWatch.com is offering an excellent prize of $100 per submission for well-written critiques of the stimulus. [...]
Susan C.
“$550,000,000, for priority health care facilities construction projects and deferred maintenance, and the purchase of equipment and related services, including but not limited to health information technology” to benefit the Indians; I think this nice humanitarian gesture, albeit a tad random. These people have been abused and marginalized since the inception of this country. This bill is meant to improve the economic situation for everyone, and though many people may be suffering under the strain of the economic crisis, they tend to selfishly forget that there are always others in the world who suffer more. As tragic as it may be to no longer afford your caviar lifestyle, it is important to not forget that there are people really in need of a boost.
Chuck S.
Give each Tax Payer $50k ($100k per couple)…if you are 30 days or more overdue on bills…money goes to that first. If you aren’t, 25% or more needs to go to your debt (CC, house, cars, etc.stimulates banks). If you buy a car with the money you stimulate the auto industry and this way we decide which companies sink or swim based on what we buy. Money invested will help stimulate the banks, money spent on consumer goods will help stimulate the consumer based goods markets. If we are going to bury ourselves with Trillions in debt why not make it fun for everyone not just the corporate fat cats.
Ina Lightfoot
A forgiveness program that comes with money management counseling and an income bracket $45,000 clear Americans bad credit. I would rather have fresh credit(a fishing pole) than a $400 dollar check (a fish). Big businesses mismanaged money and they are supposed to be the experts. They’re getting billions. Who going to buy. Americans are beat over the head with credit scores. This would stimulate all industry. Americans need the change we’ve been hearing about. Fresh start credit bill.
Donald B Parsons
There is still way too much pandering going on. Albiet infastructure is vital it will not stimulate the economy and only create few jobs. This package is to stimulate the economy and create jobs and appears to have become just another congressional christmas tree. Tim Geithner is NOT the only man for the job, and if Henry Paulson stuck with his original plan and bought up toxic assests we may not still be in this predicament. Auction them off starting with the government bidding 35 cents on the dollar and I’m sure at those prices private sector bidders would have taken it from there. Now we are in so DEEP that it has taken on a snowball rolling downhill getting bigger as it goes effect. Citizens stop spending so businesses everywhere suffer and have to let people go. those newly unemployed people can no longer afford services which means more businesses shut down making more unemployment , etc, etc…. People need to spend money in the communities NOW so this stimulis package is not the right one. TAX BREAKS for ALL and let the people KEEP their money and help the economy by spending it in their neighborhoods.
WashingtonWatch.com Digest - January 26, 2009 | Blogging Hope
[...] big economic stimulus contest announced here last week continues. Identify spending in the economic stimulus bill that will do a really good job of [...]
Leo Richard
Tom works really hard on his lemonade stand. Eventually he builds another one for a different neighborhood and hires his cousin Judy to run that one. He’s saving all his profits and is eying this automatic lemonade machine that he could use to supply his two stand plus two new ones. And his two brothers just lost their paper routes and would love to work for him. But then his Mom decides to take his profits because he has too much money and use it to hire his two brothers to rake the yard. Tom gets discouraged and doesn’t work his business as hard. After a few months the money Mom took runs out and his brothers have no jobs. Tom thinks “If only Mom didn’t butt in, they would still have jobs from the new lemonade stands. Now thanks to her everyone’s miserable.”
WashingtonWatch.com Digest - January 26, 2009 - The WashingtonWatch.com Blog
[...] Win $100 in Our Economic Stimulus Contest! [...]
Economic Stimulus Bill to House Floor - Contest Continues! - The WashingtonWatch.com Blog
[...] Win $100 in Our Economic Stimulus Contest! [...]
Economic Stimulus Bill to House Floor - Contest Continues! | Blogging Hope
[...] could just trim its Sunday editorial on the bill down to 150 words, it would be a contender in our big economic stimulus contest. Here are some kickers: Helping hire, equip and pay police, a $4 billion item under the bill, might [...]
Alex
Mr. President
I know you are trying to be as bypartizine as you can. the republican party is not being helpfull!we voted for you.Put more money into the jobs,inferstruction.
DON’t Let republicians put you in the hanging rope.The corporations,
banks, wallstreet,and so on. have wasted the money they already got.
and not telling what they have done with it.give more to the people, a good amount, 10 to 20K per family. they will spend it. that would help the economy. Make corporations accountable. more oversite! For all these years, they made bookoo money. let them use the profits to help economy.
they need to sacrafice also!Why is it that they can set an amount they
feel they should make X amount of money,but if that is not met, they
can claim a lose? Stand strong, and
help the people,not the corporations. Be strong like FDR.and do it your way. I could go on & on.But I beleive you get the drift.Peace & GOD bless all the thoughts you and your people have.
Alex
David Reed
All I see is a lot of funding for government agencies. I see no funds directed directly to the private sector or citizens. All I see is the expansion of existing government programs and agencies and bureaucracies and expanded POWER over State and local agencies in order to QUALIFY for these funds.
Bart
Bad Idea: Among the PROHIBITED USES in SEC. 1109, are swimming pools. Modernization and infrastructure for schools, allowed under SEC. 9301(b), ought to permit swimming pools. They can be made much more energy efficient and are important facilities for the promotion of water safety as well as for physical education. The next potential Michael Phelps may be left high and dry.
Chad
The Digital-to-Analog converter box coupon appropriation of $650,000,000 is a GOOD idea because there are millions on the waiting list to receive a coupon and go to the store to buy a converter box. Not only would this help many retailers such as Best Buy, Wal-Mart and Radio Shack in this tough economic time, but this would also help move along the transition to allow other uses of the spectrum currently being utilized by broadcast telelvision.
Chad
The $460,000,000 in loans from the SBA is a good idea because much of the concern right now is businesses are overly leveraged and unable to refinance their debt with the banks freezing lending. Considering that a great majority of the American workforce is employed by small business, myself included, these loans could save small businesses enough money to keep staff that they might otherwise let go.
Chad
The $4,500,000,000 appropriation to the Department of Defense to update its facilities is the most severely misappropriated funds in this legislation because the repeated malfeasance, poor procurement procedures and failure to catalog its inventory that has plagued all divisions within the military should be rectified before this level of funding is appropriated to domestic facilities. Additionally, as we plan a renewed offensive in Afghanistan, I would imagine that there are going to be many other needs that DOD should address rather than seek additional funds for facilities that they seem to have willfully ignored considering DOD FY09 appropriation is almost double FY02.
Phil
Mr. President,
I believe I can speak for every unemployed person in the country when I ask you to please include the suspension of Federal Income Tax on unemployment benefits for 2008 and 2009 to your stimulus plan. We promise not to spend the money in foreign lands on expensive vacations,or for extravegant remodeling of our homes which in many cases we are in danger of no longer owning. Thank you, and all our best hopes to you and your administration.
Nancy Mandowa
Moody’s found that dollars spent on food stamps and unemployment benefits gave the highest return on investment compared to other government expenditures.
Of the $102 billion for unemployment and food stamps in the House bill, less than $500 million is destined for actual unemployment benefits payments. But Section 2001, the Extension of Emergency Unemployment Compensation Program, simply changes the cutoff for the emergency benefits program signed into law in November of 2008.
The result of these poorly conceived paragraphs is that those who will have exhausted all possible benefits by around mid-April of this year will not be included in this new funding. That leaves around 2-3 million workers, about half of all people currently receiving benefits, out in the cold. These are the long-term unemployed, who tend to be in the worst shape financially. This is an impending catastrophe that cannot be ignored.
Phil
Believe me, come April 15th, there will be many folks out here who will be forced to make a decision between defaulting on their Federal Income Tax from their 2008 unemployment benefits,or paying their morgages.Perhaps as a result of their belief,from reading both Obama’s AND McCain’s stimulus plans,that whoever won the election,suspension of the tax was on the agenda. And,because every penny counts,not electing to allow the 10% reduction in benefits they recieve every week,to cover the bill.How can putting the families worst hit by the economy in this position, possibly be viewed as stimulus?
Ina continued...
a forgiveness bill that actually forgives past bad credit, and clears Americans credit reports and wipes the slate clean does not mean we are not responsible to pay debts owed. It just means we are given a fresh start. Most people have learned from past mismanagement, I hope the big businesses that are being bailed out by the billions has too. I don’t think they have. Stimulating the economy is essential for everyone the unemployed , health benefits..everyone. In order to stimulate there has to be someone buying..a forgiveness program would stimulate growth straight across the board. A tree (economy) will not reach full growth if the leaves (business) are only watered. You have to reach the roots (Americans). Businesses don’t want a forgiveness program because they want their cake and eat it too. They want to suck up everything like vampires meaning they want the old policies to remain so people still have to struggle to meet their inhumane policies for higher fees for those with bad credit, and you see where this has got us. Most people have learned from past mistakes and will make payments on time. Those that did not had their second chance and will be back under the existing policies.Give America a new start with a new government and the CHANGE we’ve been hearing so much about.This is the best stimulus plan.
Ina continued...
A forgiveness program that comes with money management counseling and an income bracket $45,000 clear Americans bad credit. I would rather have fresh credit(a fishing pole) than a $400 dollar check (a fish). Big businesses mismanaged money and they are supposed to be the experts. They’re getting billions. Who going to buy. Americans are beat over the head with credit scores. This would stimulate all industry. Americans need the change we’ve been hearing about. Fresh start credit bill. This bill would stimulate jobs immediately and continue to grow. Payment for everything including mortgages would still be due except persons who find it hard to refinance could with lower rates immediately because there is no existing problems on their credit reports. Anew era of fresh credit. Give Americans a fair chance not a check for $400. Use those billions of dollars you were going to trickle down to Americans to put into an escrow account for those persons who still haven’t learned the value of credit to pay off some of the expenditures on that debt.
Dan McLaughlin
Section 110 of the Stimulus Bill, compelling protectionism for American steel producers, rests on the assumption that it will save American steelworker jobs. That may be so, but it also it guarantees that domestic steel will be significantly overpriced. The immense quantities used in projects will drive up steel prices, affecting costs of everything that uses it.
When American products are priced higher than foreign competitors, due to high steel prices, fewer American products are exported. High prices reduce the quantity demanded and give the price advantage to imported products using lower priced foreign steel. Fewer American made products will be sold, and unemployment in dependent industries will worsen.
Under the Bill, profits for the steel industry will come at the expense of Americans while they are struggling to make ends meet. No jobs will be created, but merely transferred from other industries that the high priced steel makes uncompetitive.
aya
Instead of the “trickel down” theory, why don’t we try something new and different and do the “trickel up” theory. You know, start at the bottom and work our way up. Give the most amount of money to the people who have the least. The trickel down theory is so old and atiquated. The money never gets down to the root: homelessness, hungry, jobless, struggling, so start at the bottom, and I’m sure that will more than STIMULATE the economy!!!
DSK
Smithsonian Institution
National Foundation on the Arts and the Humanities
National Endowment for the Arts
These are agencies? Congress’ pets like USIP on the Mall.
Christine H
“Infrastructures”, “Transit/Rail”, “TitleIX”…In order to sucessfully stimulate the economy, we must remember where it starts…with the people. The people who spend, shop, pay their bills…without the money, we can’t stimulate the economy. This stimulus plan should address the REAL people..me and you. We should receive the bulk of this money so that we can make purchases and pay our bills. This is the ONLY way the world revolves and it won’t change by building bridges. I don’t know how to build a bridge…I am a single parent and I work in retail and $500.00 won’t even pay my rent. Guess my children and I will be homeless soon with the 17 cent raise I will get. My point, I am the infrastructure and should get no less because I am single.
Scott Rothenbush
DEPARTMENT OF DEFENSE
Facility Infrastructure Investments, Defense
For expenses, not otherwise provided for, to improve, repair and modernize Department of Defense facilities, restore and modernize Army barracks, and invest in the energy efficiency of Department of Defense facilities, $4,500,000,000, for Facilities Sustainment, Restoration and Modernization programs of the Department of Defense (including minor construction and major maintenance and repair), which shall be available as follows:
(1) ‘Operation and Maintenance, Army’, $1,490,804,000.
(2) ‘Operation and Maintenance, Navy’, $624,380,000.
(3) ‘Operation and Maintenance, Marine Corps’, $128,499,000.
(4) ‘Operation and Maintenance, Air Force’, $1,236,810,000.
(5) ‘Defense Health Program’, $454,658,000.
(6) ‘Operation and Maintenance, Army Reserve’, $110,899,000.
(7) ‘Operation and Maintenance, Navy Reserve’, $62,162,000.
(8) ‘Operation and Maintenance, Marine Corps Reserve’, $45,038,000.
(9) ‘Operation and Maintenance, Air Force Reserve’, $14,881,000.
(10) ‘Operation and Maintenance, Army National Guard’, $302,700,000.
(11) ‘Operation and Maintenance, Air National Guard’, $29,169,000.
Stimulus? Jobs? Long-term/non-project program? No, no, no. Who will be doing the work? The soldiers. How will this stimulate the economy? The gov’t paying too much for supplies. How will this effect long term change? It won’t, once the fixes are complete the stimulus and job creation (if any) will be over.
I am a tax cut supporter. Step one, the quick burst: “Rebate” 10% of paid 2008 Fed Income tax. Step two, continuation: Immediately lower Fed Income tax rates by 10%. The best way to stimulate the economy is to put money into the system. With more cash in our pockets we will spend the money (direct investment), save the money (indirect investment), or pay down debt (strengthening finacial institutions and improving our balance sheets). Also, it is easy and efficient…not a lot of room for waste.
David Tate
This new Bailout Bill is the only bill supported by the general public. (Republicans, Democrats and Independents).
Single Goal of the Bill…..
1. Stimulate the economy by getting the relief directly to the consumer.
Politicians and economist have targeted the following sectors needing immediate help and have passed money
to some of them already.
1. Insurance
2. Big 3 automakers
3. Banking
The current Bailout funds distributed have not trickled down to the consumer and President Obama states we need
solutions that provide immediate relief to the public.
This Bailout plan gets the relief directly to the consumer, assists the industries mentioned above and is
completely optional for each American !
Here is how it works……….
Let’s say John Doe makes $100,000 a year and wants to purchase a new automobile ($25,000) but is walking the fence
because of the shaky economy. This Bailout plan would allow him to deduct the full purchase price of the automobile
from his personal income tax for tax year 2008.
John Doe has already been taxed on $100,000 of income for 2008 and deducting $25,000 (purchase price of automobile)
lowers his tax liability to $75,000. This provides John Doe with a $6,000 tax return as soon as he files his taxes
for 2008.
Here are the rules of this plan…
1. Automobile must be manufactured by one of the Big3.
2. Automobile must be insured by American owned insurance company.
3. Automobile must be financed.
Consumer get’s immediate relief, Big3 sells automobiles, Insurance companies sells policies, Banks provide loans
and best of all…. this plan is completely optional to the consumer.
Now that you have the concept… let’s discuss a few issues.
This Bailout plan applies to all income level so every American benefits. (no income limit)
If the consumer doesn’t make enough to deduct the full purchase price of automobile then any unused portion would
carry forward to the next tax year. (Ie… if consumers income was $18,000 in 2008 he could only deduct $18,000 on
his 2008 tax return and the remaining $7,000, from our example above, would carry forward to his 2009 tax return)
Banks wants to increase their deposits and only want to give loans to those who fully qualify.
The government also wants the banks to provide solid loans to those who qualify. Since all consumers are not created
equally… place the tax return, of those consumers on the bubble, in an escrow account with the lender to help
solidify the loan.
When John Doe gets his $6,000 tax return he will first deposit in the bank (increasing bank deposit), he will
probably do what most of us do and purchase goods further stimulating the economy. Or he will pay down other
debt which is also good for the economy.
Now that you have arms around the concept, run with it and imagine doing the same this with housing industry.
Let’s get this Bailout plan pushed through before this tax season is over.
Please pass this email to all of your friends and politicians!!!!!
David Tate
Alabama
P.S.
Let’s give first options to those Automakers and Banks which did not receive Bailout funds.
Steve
Mr. President,
The majority of financial analysts said that the stimulus checks that were sent out last year did not work because people put it in their bank and did not spend it. My idea is to issue Debit cards with a set limit and a time constraint on when these monies need to be used. If not used by the time specified, they would lose it. This Debit card could only be used to purchase service and goods and NOT used for cash. This would give our economy a shot in the arm and would carry us 4-6 months into this year and hopefully by then, the economy would begin an economic recovery.
poorsinner
Economic recovery is not about money but ones honor and respect for the position they hold. If can dishonor and disrespect the position they hold knowing they can just walk away with billions in bonuses of unjust enrichment or worse are handed more money it would be foolish to invest in any company no matter what the number or rating say. Rob a bank knowing you can keep the money and walk away. Bank would go broke no matter how much they were bailed out. One would be foolish to make a deposit. America has no choice but enforce the unjust enrichment law and recover unjust bonuses not for the money but to bring trust honor respect for position one is willing to hold. $100 trillion will not make a difference if everyone can gab what they can and at worse just walk away. Number show over $200B can be recovered from CEO even CEOs of years past. This will also stop this recklessness from ever coming back. Hell burn the recovery money to show the world America is back. Honor and Respect above shameless greed. Saddly so many are involved this is not to be. P.S. To the struggling people on earth REM; Honor and Respect is key to Heaven
joe
We all better get a $100,000,000.00 bonus when the plan fails and the CEOs can do the bailing out.
BS
Enforce unjust enrichment Start throwing the CEos in jail. what the Hell is going on.Columbia Encyclopedia: Federal National Mortgage Association The price usually soars when interest rates fall and plummets when interest rates rise, since the mortgage business is so dependent on the direction of interest rates. Fannie Mae’s corporate credibility was damaged by revelations (2004) that it manipulated its earnings from 1998 to 2004, in part to maximize bonus payments to its corporate executives In the United States, the Office of Thrift Supervision (OTS), an agency of the United States Department of the Treasury, is the primary regulator of the fiduciary activities of federal savings associations.
such as corporate directors, held to a fiduciary duty breach of fiduciary duty in order to prevent unjust enrichment.
The fiduciary functions of trusts and agencies AIG, Inc., Ameriprise Financial, American Express, Morgan Stanley, and Merrill Lynch, each is liable.
And the Winners Are! . . . - The WashingtonWatch.com Blog
[...] little over two weeks ago, we announced our exciting economic stimulus contest, inviting you, the readers of the WashigntonWatch.com blog, to call out the best and worst in the [...]
And the Winners Are! . . . | Blogging Hope
[...] little over two weeks ago, we announced our exciting economic stimulus contest, inviting you, the readers of the WashigntonWatch.com blog, to call out the best and worst in the [...]
Skip Dunn
We need to kill this “stimulus” bill before it starts killing us.
I am talking about the health rule who will decide who lives or dies based on how much of a burden is their health care to the society. Killing more Americans in the hand of a health care bureaucracy will not stimulate the economy. Killing this bill will actually stimulate the economy much more.