Wisconsin will find 74,000 new jobs (or saved jobs) in the American Recovery and Reinvestment Plan -- the so-called stimulus package costing $850 - $900 billion (whatever) proposed by President Barack Obama.
So sayeth National Economic Council Director Larry Summers, as the White House today released state-by-state data outlining the jobs impact of the program.
You can read it all here, and compare the Wisconsin job figures to other states (Illinois, 158,000, but still none for Rod Blagojevich; Michigan, 116,000).
Meanwhile, as we wait -- along with everyone else -- for the stimulus bill to be passed and parsed, or rejected and reformulated, Gov. Jim Doyle announced today that he is delaying introduction of the state budget by a week, from Feb. 10 Feb. 17, to give time for details of the state's share to come into clearer focus. Latest estimates say the federal bill will provide about $3 billion to the state -- biting a big chunk out of our expected $5.7 billion budget deficit.
The bill has passed the House -- no thanks to Rep. Paul Ryan, R-WI, 1st District, and awaits action in the Senate.
And, with full awareness that the Democratic Policy Committee is a partisan organization, here is their analysis of what the stimulus bill has in store for Wisconsin. Here's a detailed breakdown of how the state's approximately $3.1 billion would be allocated, if...
Not sure the value of continuing to take shots at Ryan for his vote when even the Senate Democrats are complaining about the amount of non-stimulus spending in the bill.
ReplyDeleteA recent CNN poll said that 90% of us don't like the house bill. Other mainline media polls are showing similar concerns about the house package.
The polls seem to suggest Paul was got it right.
And how do we pay for this?
ReplyDelete50% Income tax 75%?
Not a minute too soon? Although we are losing jobs at record pace, it was that economic wizard and grab bag witch, Nancy Pelosi- that today cited that we are loosing "500 million jobs" each day... Really, 500 MILLION jobs per day! And this coming from one of Democratic leaders that put this "waste" of a bill together...
ReplyDeleteWake up Wisconsin and for that matter, the rest of the nation! This bill is riddled with waste that offers little to stimulate the economy...
Doyle’s ability to delay the budget for yet another bailout to once again dig his butt out from under another budget deficit is nothing new with this man. The only difference is that this money will be placed on my children’s and grandchildren's backs, but again, does anybody really care?
As elated as many of you may have been with the Presidents rise, so too should you be extremely disappointed with the miserable display of leadership, backbone and ability to slap his democratic leadership for constructing a bill that is literally an embarrassment to anyone that had hoped for a tangible stimulus package.
In less than a month, President Obama has failed with his selection process to his cabinet. He has offered no true conviction towards his previous campaign commitments to adhere to transparency, ethics, to include; no lobbyist policy within his administration! Yet that was well over a month ago!
Over the weekend, our homes are invaded with those same old political warhorses vigorously campaigning (selling) us on the selection of Tom Daschle. Senator Kerry claimed that Daschle’s tax problems were nothing more than a minor mistake. This, on the back of another appointee that failed to meet his moral and ethical obligations, but again; doing so would be now deemed a high standard. Yes, a high standard, which now includes paying your taxes like every other American.
Trust me, I would like to provide the President with the benefit of the doubt, but between his actions, over his speeches, leaves me searching for any hope that we will find our way to navigate through this economic slide anytime soon. If the President finds the intestinal fortitude to put Nancy Pelosi and Harry Reid in their spot to work toward the bi-partisan goal he had in mind to construct a stimulus package, which includes removing the waste to offer a factual job creating bill, I will be his biggest advocate. Until then, I find this President off to a miserable start!
I encourage everyone to look at the bill, not just the Wisconsin portion. This bill lacks any tangible stimulus to generate economic growth for this nation. Yet, the worst portion of this current situation is that this package i.e., grab bag of waste - will be placed on the backs of both yours and my children and grandchildren.
This is unreal. Our country is sliding negatively and we either pan the new President or pan the elected legislators. How is this a win-win for anyone? Think about it. We are going to have to come to grips with the simple fact that we no longer just take the republican or democratic side on things. Unless you have some particular knowledge which you can prove to have an edge on a subject you all are just talking smoke. Get real. The sides are no longer democratic or republican. The side should be "US". As in our country. When we merely argue conservative vs liberal without adding informative information which will make a difference we simply are contributing to the problem and not the solution. This is because the problem is few of us are truly listening to what others are saying. But we first have to have something worth listening to. So add something worthy. Stop with all the political bantering. Otherwise we are just spinning our country down the tubes. And we will only have ourselves to blame.
ReplyDeleteRees Roberts
I'm embarrased to say I heard Charlie Sykes panning it the other day and he made some good points. I'd like to hear from the middle on this. I'm an Obama guy but I have some doubts about this bill.
ReplyDeleteBest analysis I've heard is this:
ReplyDelete1. Republican complaints focus on less than 5 percent of the total proposal. That may be pork, and legislators can strip it out, but it hardly defines a "bad" bill. In reality, 95 percent of the bill will create jobs and stabilize the economy.
2. In other words, the stimulus is losing the forest through the trees, which is exactly what opponents wants.
3. The government (Republicans and Democrats) had no problem handing out massive bailout dollars to banks and investment firms. But when it comes to average Americans' jobs, it's too much spending?
4. The economy is in lousy shape. Layoffs are coming fast and furious (15,000 a day), the construction industry is dead and banks are teetering on bankruptcy. The government has to do something, but Congress seems set on playing games for political points. It's a very sad time, and many people will be hurt in the process.
5. Polls I've seen show two-thirds of Americans suppport the stimulus plan when they know what's in it. 54 percent support when they don't know the details.
http://www.diageohotlinepoll.com/
Dustin
ReplyDeleteHow do we pay for this?
Colt-
ReplyDeleteHow do we pay for 20 percent unemployment and deflation? We're damned if we do, damned if we don't. But if we do, at least people keep jobs and companies stay in business. If we don't, we get the massive debt and massive poverty.
Sir
ReplyDeleteAgain how do we pay for this? It has to be paid for.
Since sir you can't say how nor can the Son of God let me try
ReplyDelete1) We simply print the money, this has been done before called Germany in the 20's think inflation rates of over 500%
2) Well sell as many bonds as we can to who ever we can hoping someone is willing to buy over a trillion in debt. Germany did that too
3) The Son of God forces "the rich" to buy the bonds this has been done since the 2nd Cen BC From Rome to Argentina might work might not work gets folks pissed off
4) We increases taxes across the board. That get governments changed we can have the Son of God lose his mandate.
I have a better idea no stimulus none. The FDIC pays off bank deposits as the law said but no more bail out for Banks or cars.
If the fed want to fix roads and such all for it. But no large scail bail outs or checks to everyone.
Something w all should know from History that Governments can not plan economies. The USSR could not do it. THe PRC gave it up. Cuba and North Korea are staving.
Yes it will hurt yes it will not be nice. Far better then Hyper inflation and a planed Marxist economy
There are two types of people.
ReplyDeleteThe first are those who will come up with reasons why something will work.
The second are those who will come up with reasons why something will not work.
Colt and others appear to want to come up with reasons why it will not work. If we do nothing, what do you think will then occur?
We need to collectively believe that putting people to work will have a positive effect on our economy....not to mention our society.
I would love to hear from those who have something to say which is better than what has been proposed. That has a "can do" attitude rather than reasons why it won't work.
Oh and put your name on it while your at it. It is so easy to pan something and not put your name to it.
Rees Roberts
What will work easy
ReplyDeleteCut taxes let us keep more of our own money.
Cut Capital Gains taxes give us a reason to invest our money and not punish us for making money doing so.
Force government not to spend more then they have.
Jail the bankers etc who used fraud
to make money in the housing market but now seek a bail out. Put them next to the Obama folks who we know cheated on their taxes. 100K is not a mistake.
Like I said If the Feds want to fix the roads and help bring the power grid to the standers it needs to be all for it.
If I understand right Rees thinks we just should write checks and hope folks find jobs keep jobs so far the Government has not made me trust them to do that.
And we still need to know how does it get paid for? Who will pay for it?
Right now I think that between
KRM
The next RUSD Spending
End of Levey Limits
Doyle's idea on Heathcare for all
I am looking at much higher taxes
This whole deal looks more Marxist everyday
Colt is me and I am everywhere very happy to helped put paid to the West Racine Slum deal
This is meant as a constructive comment. Please take it as such.
ReplyDeleteIf Colt is correct then why do we now have Obama as President? We had 8 years`of Bush (when I didn't bash him during that time frame) but now see the results. Bush's policy's got us into this mess. No oversight resulted in a failed economy.
We now have a new President. We should back him and give him the room to succeed instead of merely bashing him. Coming up with reasons why it won't work is one heck of a poor response. The majority of this country voted for Obama. We lived with Bush for 8 years and gave him his chance. Now we need to collectively give Obama his chance to dig us out of what Bush gave us. If it wasn't Bush's administration that gave us what we now have, I would love to hear who did.
This mess isn't going to be repaired in any short time frame. We have to remember that. It took 8 years to get here. Remember we didn't have a deficit at the end of the Clinton administration but we certain did after the Bush administration. That can not be denied.
So let us give Obama the time to succeed. Merely being negative about Obama's policies does absolutely nothing to help matters. Unless you want our country to not succeed.
Cheers
Lots of folks helped us get here. From Congress to the American voter who is not able to take the 15 mins to read the news.
ReplyDeleteRoots of the crash goes back to the Billy years.
I far more then anyone want to be wrong on Obama, for if I am right and my biggest fear comes to pass
we will see Iran have Nukes and one come to visit here say Miami.
Or Hyper inflation show up. That would be real bad.
IMHO Obama is not a bad man just someone voted into office by voters more worried about MTV and Lost then what is best for this Country.
By 2010 The GOP and the Right take both houses and a new game is at hand.
35+ state workers are loosing their jobs to pay for this, no matter what the Govenor says.They help bring in 14 BILLION to state economy.Smart ??
ReplyDeleteOnly big wigs keeping their jobs.
This is 50% of some peoples income.
Who is sharing the pain ??? Not the big boys !!