The stimulus bill has been a controversial topic in the economics profession. Given that it has probably been a done deal since President Obama was elected in November, I hope my colleagues supporting the stimulus are right about its impact. I believe that most observes have some problems with the way the bill was shaped and passed, and I will only make one irrelevant comment about what should have been.
According to CNSNews.com, in an article titled, "Democratic Senator Predicts None of His Colleagues 'Will Democratic Senator Predicts None of His Colleagues "Will Have the Chance' to Read Final Stimulus Bill Before Vote',"
The final bill, crafted by a House-Senate conference committee, was posted on the Website of the House Appropriations Committe late Thurday in two PDF files.
The first PDF was 424 pages long and the second PDF was 575 pages long, making the total bill 999 pages long. The House is expected to vote on this 999-page bill Friday, and the Senate either later Friday or Saturday. [Editor's note: The first PDF, as posted on the House Appropriations Committee website as of 8:20 AM Friday morning, had grown by 72 pages to 496 pages, increasing the length of the total document to 1,071 pages.]
The same article quotes Senator Frank Lautenberg (D-N.J.) as predicting
[N]one of his Senate colleagues would "have the chance" to read the entire final version of the $790-billion stimulus bill before the bill comes up for a final vote in Congress.
Alec MacGillis, writing, "Democrats Among Stimulus Skeptics," for the Washington Post reports that Alice M. Rivlin, President Clinton's budget director, suggested splitting the plan by implementing immediate stimulus components now and taking more time to plan the longer-term transformative spending. I wish that Congress had listen to her.
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I was recently informed that the stimulus bill will be implemented throughout a very long period of time. is this correct? Also: Is it true that by the time the stimulus bill pays the last cent, we will have been out of our little "recession" for upwards of two years?
ReplyDeleteDavid Vargas ~CHS~
ReplyDeleteI totally agree with the point just made. However, the people in charge may not be considering solution due to all the pressure from the people. With the economy getting worst everyday people are eager for action to take place. Thus, causing people in the white house to rush a big spending bill. Furthermore I'am in favor of the governement spending money on college students. We should be supporting individuals who are going to school for high demanded jobs. We need to retool America as a whole!!!!