Thursday, January 15, 2009

Obama’s - Democrats increase Stimulus Plan – now $850 Billion, Additional T.A.R.P. Funds requested, Massive Omnibus Land Bill Passed.

The Democrat controlled Senate and Congress have been adding to Barack Obama’s stimulus plan, however, the AP is reporting that the $3,000 provision for small business job creation was not likely to be included, however, a provision to allow companies who posted losses last year and would make tax refunds available for up to five previous years, still showed signs of life.

What is included: $85-$90 billion for states who need assistance with Medicaid, $90 billion for education, $25 billion to help laid off worker keep their health insurance, $35 billion for extensions in unemployment insurance and an increase in funds for food stamps. Funds for construction for state projects are expected to see a large increase.

The Omnibus Land Bill that was crammed through the Senate on Sunday, is an additional pork laden project that will be added to the national debt, and the President is requesting an additional $350 billion dollars for T.A.R.P. bailouts. T.A.R.P. has thrown billions of dollars at embattled firms, with a net result of zero. Citibank, one of the recipients of T.A.R.P., has deteriorated to the point where they are breaking apart, yet somehow, those bailout receiving bank executives have found funds to donate to < a href=""> Barack Obama’s Inauguration

Just how great will our deficit grow? There are no boundaries, unless someone with a clear head and some fiscal restraint grabs the reigns and fast - which is not likely to happen for at least two to four more years.

1 comment:

Chuck said...

This is a sign of things to come. Instead of giving money to people who can stimulate the economy, we are going to ressurect the welfare state and redistribute our wealth to unproductive people. The Dems must be back in town.

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