The 647-page, $825 billion House legislation is being sold as an economic "stimulus," but now that Democrats have finally released the details we understand Rahm's point much better. This is a political wonder that manages to spend money on just about every pent-up Democratic proposal of the last 40 years.
We've looked it over, and even we can't quite believe it. There's $1 billion for Amtrak, the federal railroad that hasn't turned a profit in 40 years; $2 billion for child-care subsidies; $50 million for that great engine of job creation, the National Endowment for the Arts; $400 million for global-warming research and another $2.4 billion for carbon-capture demonstration projects. There's even $650 million on top of the billions already doled out to pay for digital TV conversion coupons.
In selling the plan, President Obama has said this bill will make "dramatic investments to revive our flagging economy." Well, you be the judge. Some $30 billion, or less than 5% of the spending in the bill, is for fixing bridges or other highway projects. There's another $40 billion for broadband and electric grid development, airports and clean water projects that are arguably worthwhile priorities.
Add the roughly $20 billion for business tax cuts, and by our estimate only $90 billion out of $825 billion, or about 12 cents of every $1, is for something that can plausibly be considered a growth stimulus. And even many of these projects aren't likely to help the economy immediately.
Thursday, January 29, 2009
Yesterday, the House passed a bill that is supposed to help the economy. This article explains why it won't, in the humble opinion of the Wall-Street Journal. Thanks Congress, I can't wait to see how $50 million for the National Endowment for the Arts helps my family this year. Or how $2.4 billion for "carbon-capture demonstrations" will create jobs for the 223,000 people who have lost their jobs with Microsoft, Pfizer, Starbucks, etc. this year.
Monday, January 12, 2009
What is that you say? I post pictures of the zoo all the time? Ah, yes, that is true. But Ben hadn't used his membership until we went to the San Diego Zoo on New Year's Day. He somehow escaped all of the trips I've taken to the Zoo/Wild Animal Park this summer and over the past few years and had not been since he took me when we were 18 or 19 years old. On this lovely day, Isabel woke him up so darn excited to go to the zoo that he just had to come with us.
New Year's Day was the perfect day at the zoo and we had great weather. The kids are at a great age for activities like this - they make it so much more fun!
Adam, happy to see the giraffes with Grandpa. And there is Ben in the background - proof he was there.
The bus tour again - I'm not sure how much they could see, but at Adam said, "I love this bus Mommy" so I guess they enjoyed the ride.
Best parts of the day that I don't have pictures of:
1. The elephant peeing. Have you ever seen an elephant pee? It is quite a sight.
2. Taking a bus up the hill to see the polar bears. I told Kevin it was a horrible steep walk and we were taking the bus. He walked. We waited 10 minutes for the bus, went up a hill maybe the length of half a football field, and got off. I didn't realize it was that close :)
3. Our stop at Wood Ranch Grill. Have I blogged about Wood Ranch yet? It is our new favorite place. It is out of the way in South Corona so we now stop there on our way back from trips to San Diego.