A real CBO analysis of the complete stimulus bill

[Are_grits_groceries]

WASHINGTON, Jan. 27 (UPI) -- The bulk of spending and tax cuts in a House-crafted plan to stimulate the U.S. economy would have a "noticeable impact" by 2010, budget analysts said.

A Congressional Budget Office report issued Monday indicated about two-thirds of the measures in the $825 billion package would migrate into the economy by the end of fiscal year 2010, producing "a noticeable impact on economic growth and unemployment," The Washington Post (NYSE:WPO) reported Tuesday.

The package is scheduled for a House vote Wednesday.

The non-partisan office concluded the measure would cost the federal government about $816 billion over the next decade and that approximately $526 billion, or about 65 percent, would be spent by the end of September 2010. That percentage falls short of President Barack Obama's goal of injecting at least 75 percent of the cash into the economy during the next 19 months to create millions of jobs and ease the pain of the recession.
http://www.upi.com/Top_News/2009/01/27/CBO_House_plan_offers_noticeable_impact/UPI-32841233066731/

Better start hyping this hard!!

[ellacott]

1. Thank you!!

Rachel Maddow reported on her show that the CBO report that the Repubs are citing is bogus. I meant to look up her information. Thank you for providing the information. I will definately pass it around.

It's very frustrating that no other media person has reported on this. It's also frustrating that our legislators haven't mentioned this also.

[sandnsea]

2. It's a good bill

Here are the tax cuts, which are also mostly good.
http://www.obama-mamas.com/stimulus-tax-cuts.htm

I think we're making a mistake not getting behind this in a big way. It's not like we can't pass the light rail bill later this year. People will pay for what they value.

http://www.obama-mamas.com/blog/?p=165

[marketcrazy1]

3. if this is good news

then the bad news will be horrible!! ""noticeable impact" by 2010"" $825 billion package would migrate into the economy by the END of fiscal year 2010, well I am stoked!! only 21 more months of abject economic misery until we see a ""noticeable impact""!! break out the cigars!!!

[sandnsea]

4. That is not what that means

It means that the bulk of the money will be spent between the passing of the bill and the end of 2010, and that there will be a noticeable impact from that spending - at the same time.

[marketcrazy1]

5. that IS what it says and means.

you may choose to interpret it differently if it makes you feel better... hope for the best! but DO plan for the worst.. GLTY!!!

[sandnsea]

6. Some spending is required in 60 days

The education money has to be distributed within 60 days. Tax cuts take effect immediately. Read the bill. You don't have a clue what it says.

[marketcrazy1]

8. I have the bill in PDF

and the analysis and the recommendations report, in fact i have two versions of the bill one prior to pelosi ( 258 pages ) and the current version of 647 pages. when mainline unemployment spikes above ten percent by june this will be seen as a failure.. I sincerely hope they get this right and it works, but i dont think it will.. again good luck to you and to all of us! - we are going to need it!!

[Are_grits_groceries]

7. Well you can take your dismal self into a corner and moan away!

We are already a month into 2009. By the time the bill is passed and everything is sorted out, it could be a month or two more. Do you even realize how fast this bill has moved?? It is going at light speed by the usual standards.
In addition, there will probably be more specific bills on the way with smaller price tags. This bill is as much for psychology as anything too. If people see the money going to projects (transparency), and realize movement that will help.
I don't expect miracles. This is going to be a long haul. Have fun in your 202 post corner.

[marketcrazy1]

9. so it`s all about post count!!

I guess i should just spam the board. have another sip of koolaid!!

[Are_grits_groceries]

10. No it's about common sense. nt

[marketcrazy1]

11. exactly my point!!!

thank you!!!