Gov’s $787 Billion Economic Stimulus Plan Breakdown

by David Ning · 9 comments

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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{ 9 comments… read them below or add one }

Peter March 15, 2009 at 5:09 pm

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.

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Mark March 15, 2009 at 11:08 pm

I agree. The allocation is so less for education and job training programs.

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Dividend Growth Investor March 16, 2009 at 3:04 am

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

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marci March 16, 2009 at 11:23 am

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?

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MoneyNing March 16, 2009 at 5:55 pm

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?

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Jason @ MyMoneyMinute March 17, 2009 at 3:17 pm

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

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marci March 17, 2009 at 10:00 pm

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.

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Margaret Kennedy September 22, 2012 at 2:44 am

Just wanted to add a little bit on government spending – how much tax payers money go to foreign aid. Yes that is to Afgahnistan, Pakistan, Greece, etc – those countries that at this very moment are rioting, ranting, burning the American flag and demanding “DEATH TO AMERICA”.

18 Votes30 CommentsPrintStop Foreign Aid until America can pay it’s own way. / Poll
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Why does America continue to pay foreign aid to countries and borrow to pay our own bills.

The richest nation in the World is on the tipping point of Bankruptcy. We are in trouble now, more than ever before.

The Democrats have done themselves in as well as the ability of the United States to continue to pay it’s own bills. The Democrats believed it was their turn at the open check book that the taxpayers had given the last 10 administrations.

Apparently we the people are just the funders for the check book.

My question is why have we continued to spend BILLIONS of dollars in Foreign Aid, when we as a nation need foreign aid given to us?

According to the government’s user-friendly Web site, http://www.foreignassistance.gov, Uncle Sam doles out “more than $58 billion a year in foreign assistance through more than 20 agencies.” More than half of that, roughly $37 billion, is managed by the State Department and USAID.
You may be surprised to learn that most countries outside of Western Europe, Canada and Australia get foreign aid from the U.S. This year the requested amount for Russia was $68.7 million. For China, it’s $12.9 million. A whopping $647.7 million has been allocated for Nigeria. Even $20 million is set aside for communist Cuba. Again, these figures are the requested amounts for 2011–Congress is still trying to figure out how much to spend during the current fiscal year–and they only include aid to be managed by State and USAID. They don’t include money that finds its way into these countries through U.S. regional foreign assistance offices or offices that deal with specific issues like health or agriculture.

Where does the money come from? Taxpayers, of course

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Margaret Kennedy September 22, 2012 at 2:46 am

Sorry – forgot to add President Obama increased this amount for foreign aid, by 40% for the year – 2012.

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