Republican Immaturity and Some Other Thoughts on the Passage of the Economic Stimulus Bill

As you can plainly see; an individual, or a group of individuals, thought that they needed to include their whiny and uninsightful comments into a large number of YouTube videos. So now some overworked YouTube workers will have to fix the mess that the children made: On the count of three; everybody laugh at the immature rightwingnut pranksters dedication to their own inanity! 1, 2, 3! Ha, Ha, Ha.

The children should be bored by now and they've probably gone off some where safe to start their incessant whining

So it's finally time for the grownups to take some time and seriously discuss a number of political issues surrounding the final passage of the Conference stimulus bill.

The real point is to listen to the remarks of Speaker Pelosi as she summarzed the importance of the passage of the stimulus bill for the American people.

The The LA Times provided a summary of the almost $789-billion committee economic stimulus bill shows that interest will add over $300 billion dollars over a 10 year period. For the purposes of this summary the bill will be divided into two parts; spending and taxes

First a breakdown on spending:

67 billion dollars - Aid to poor and unemployed

8.7 billion dollars - Infrastructure repair and construction

141.3 billion - Healthcare

8.8 billion - state block grants

41.2 billion - Energy

87.3 billion - Education

9.5 million - housing

Finally a breakdown on taxes:

116 billion dollars - New Tax Credit

70 billion dollars - Alternative minimum tax

14 billion - Expanded College Credit

20 billion - Renewable-energy incentives

6.6 billion - Home-buyer credit

1.7 billion - Auto sales

With the passage of the stimulus bill the next question is ow soon, and how much in benefits will Americans receive once the bill is enacted into law. The bill is so large and ambitious, that its effects could be felt in every sector of American society.

The economic stimulus is designed to provide a time-certain release of funds into the American economy. Most Americans will see an immediate effect as tax cuts take effect. On the other hand, money directed at the fundamental inquiries of science and the development and implementation of a green economy could take years,if not decades.

The Congressional Budget Office (CBO) predicts the money released into the economy will have its most substantial benefit on America's GDP by the end of 2009, and then decreasing in 2010 until its overall influence disappears by 2013. The CBO believes that the legislation's greatest effect will be to decrease unemployment as more jobs are created. The CBO estimates that 3.6 million jobs will be created by 2010, with an additional 11.6 million jobs created by 2014 to 2015.

The LA Times predicts: "Workers who make less than $75,000 a year (or married couples who make $150,000 or less) will receive $400 tax credits in 2009 and 2010. Those who make more will receive reduced amounts. But instead of mailing out checks, as the Bush administration did with its stimulus plan last year, the government will withhold a little less -- leaving average workers with perhaps $8 extra per week."

The Times explains that: "Those out of work will see unemployment checks immediately increase by $25, up from the average benefit of $200 a week. And eligibility for benefits will last 46 weeks, up from 26 weeks. That money, too, will go to people who are most likely to spend it quickly."

"First-time home buyers" The Times predicts, "can also reap immediate benefits. In lieu of government cash, they can claim an $8,000 tax credit if they buy a home before the end of year."

In addition: "... those who buy a new car by the end of the year will be able to deduct the cost of the sales tax ... And many parents of college students will be able to deduct more of the cost of tuition on next year's tax return (as long as they are paying it, of course)."

"The federal government," the Times explains: will deliver $54 billion in aid to cash-strapped states, with some of the money available to prop up state budgets, help maintain services and keep employees on the job. A large chunk of funds will be available for upgrading school buildings.Other money could help keep teachers and day-care workers on the payroll. That alone could save or create hundreds of thousands of jobs nationwide."

Additionally, The Times reports: "Counties, cities and municipalities that receive a chunk of stimulus money are expected to green-light so-called shovel-ready projects, using workers and equipment that otherwise might sit idle. The U.S. Conference of Mayors has projected that such projects could yield 1.6 million jobs by the end of next year." And, The Times continues: "A provision to spend $10 billion on weatherization and other energy-efficiency upgrades for homes and federal buildings is aimed at benefiting the economy in the midterm. Longer-term, the legislation calls for $20 billion to upgrade the nation's electric grid and $8 billion for high-speed rail projects. There are also large increases in research and development, including $1 billion for NASA and $3 billion for the National Science Foundation. The National Institutes of Health is a major beneficiary; it will have $10 billion flowing in for biomedical research."

While Democrats wer busy haping the bill for final passage The GOP whined and complained and tried every obsructive tactice in their political playbook. But in the end the Democrats passed the bill they intended to pass all along.