Now that it’s been a few weeks since our new president passed the $787 Billion Economic Stimulus Plan, it’s easier to get more details on exactly how it’s broken down. Did you know that $217 billion is allotted for state and local governments? Many of our president’s speeches touted the infrastructure and investments in efficient energy inventions but those only totaled $169.5 billion. Want to know the rest?
The Governments Economic Stimulus Plan Breakdown
Tax Cuts – $244 Billion
$99B – Payroll-Tax Holiday
$90B – Business Expenses Tax Breaks
$25B – Earned Income Tax Credit
$20B – Renewable Energy Tax Credit
$10B – Tuition Tax Credit
Aids For State and Local Gov – $217 Billion
$87B – Medicaid Cost Sharing
$79B – State Grants
$42B – State and Local Bond Tax Credit
$5B – Community Development
$4B – Rural Development
Relief – $120 Billion
$42B – Expanded Unemployment Insurance
$40B – Health Insurance for Unemployed
$20B – Expanded Food Stamps
$11B – Housing Assistance
$4B- Supplemental Social Security Income Payments
$3B – Welfare
Infrastructure – $101 Billion
$30B – Highways
$20B – School Renovation
$17B – Health Information Technology
$13B – Transportation Projects
$8B – Water Projects
$7B – Military and V.A. Construction
$6B – Accelerated Deployment of Broadband
Energy Efficiency – $59.5 Billion
$22B – Federal Energy Efficiency Grants
$19B – Other Energy Efficiency Grants
$11B – Smart Electric Grid
$8B – Renewable Energy Loan Guarantees
Human Capital – $45.5 Billion
$25B – Education Programs
$15B – Federal Pell Grants
$4B – Job Training
$2B – Scientific Research
What Do You Think of The Government’s Economic Stimulus Plan Breakdown
Do you think this is the correct allocation? Personally, I rather see us put more aid into the programs for future generations (like human capital for example) but that’s just me! What about you?
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{ 7 comments… read them below or add one }
Good breakdown of the economic bill. I can’t believe that we are spending almost more money for unemployment insurance than all of training and education combined.
I agree. The allocation is so less for education and job training programs.
I like this bailout much better than the TARP bailout, for which there was no breakdown in the early days
OH! You’re my new favorite blogger fyi
I’d like to see universal health care of some sort – I think that would open up soooo many jobs! Reason being, some of us are just working for health insurance – we could retire, but don’t want to loose that free company provided health insurance. If I had that health insurance piece (free) then I’d retire, my job would open up, and someone else would have a job. And as I’ve been there awhile, the new person would start in at lower wages, saving the company money also.
I honestly would be retired if I had that free health insurance coming in. There must be others out there in the same boat?
Dividend Growth Investor: I’m honored!
marci: It’s interesting that you put it that way. Have you checked how much life insurance is and saw that it was too expensive or is it that you are afraid of needing to pay for it?
I think economic stimulus funds should reinforce & encourage good financial behavior. These bailouts don’t seem to allow the benefits to go to those who HAVE been good with their finances.
Here’s my detailed comments on the Stimulus Plan. I’d be interested in your thoughts:
(Part One) http://tinyurl.com/cbxddr
(Part Two) http://tinyurl.com/de4aq9
I have life ins. It’s the health insurance I don’t care to pay for. I’ve looked into it and even with no red flags, it’s still more $$ than I care to dish out each month. I’m looking for a major medical policy – one that just covers the big stuff like hospitals and emergency rooms, etc. I don’t mind paying for the little stuff like the dr. visits, dentists, glasses, and pills. But even one with a $4000 deductible was still about $250 /month, and that’s more than I care to pay right now. When the lure of retirement sits on me harder, as it will for sure this summer with the nice weather coming in here in Oregon, I will be again looking into health insurance and trying to find a way to either accept the cost of it or just keep on working for the free stuff.