About
Learn More about our progressive online community for the Granite State.

Create an account today (it's free and easy) and get started!
Menu

Make a New Account

Username:

Password:



Forget your username or password?


Search




Advanced Search


The Masthead
Managing Editors


Jennifer Daler

Contributing Writers
elwood
Mike Hoefer
 susanthe
 William Tucker
ActBlue Hampshire

The Roll, Etc.
Prog Blogs, Orgs & Alumni
Bank Slate
Betsy Devine
birch, finch, beech
Democracy for NH
Live Free or Die
Mike Caulfield
Miscellany Blue
Granite State Progress
Seacoast for Change
Still No Going Back
Susan the Bruce
Tomorrow's Progressives

Politicos & Punditry
The Burt Cohen Show
John Gregg
Krauss
Landrigan
Lawson
Pindell
Primary Monitor
Primary Wire
Scala
Schoenberg
Spiliotes
Welch

Campaigns, Et Alia.
Paul Hodes
Carol Shea-Porter
Ann McLane Kuster
John Lynch
Jennifer Daler

ActBlue Hampshire
NHDP
DCCC
DSCC
DNC

National
Balloon Juice
billmon
Congress Matters
DailyKos
Digby
Hold Fast
Eschaton
FiveThirtyEight
MyDD
The Next Hurrah
Open Left
Senate Guru
Swing State Project
Talking Points Memo

50 State Blog Network
Alabama
Arizona
California
Colorado
Connecticut
Delaware
Florida
Georgia
Idaho
Illinois
Indiana
Iowa
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Missouri
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
New York
North Carolina
North Dakota
Ohio
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Dakota
Tennessee
Texas
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin

February 13, 2009: CSP Acts to Address Severest Economic Crisis since Great Depression

by: William Tucker

Wed Jul 14, 2010 at 23:07:41 PM EDT
President Obama, January 8, 2009:

We start 2009 in the midst of a crisis unlike any we have seen in our lifetime... Nearly two million jobs have now been lost...  Manufacturing has hit a twenty-eight year low. Many businesses cannot borrow or make payroll. Many families cannot pay their bills or their mortgage. Many workers are watching their life savings disappear. And many, many Americans are both anxious and uncertain of what the future will hold.

That is why I have moved quickly to work with my economic team and leaders of both parties on an American Recovery and Reinvestment Plan that will immediately jumpstart job creation and long-term growth.

On February 13, 2009, Congresswoman Carol Shea-Porter cast her vote in favor of the American Recovery and Reinvestment Act.

Our nation is facing the most severe economic crisis since the Great Depression, and it is critical that we act now.  This bill will create and protect jobs, build and repair local infrastructure, and provide tax relief to New Hampshire workers and families.

In May, 2010, the independent, bipartisan Congressional Budget Office reported on the results:

...the $800 billion economic stimulus package "has had a slightly bigger effect on the U.S. economy than was projected when it was passed more than a year ago."

"Through the first quarter of 2010, the stimulus boosted employment by an estimated 1.3 million to 2.8 million jobs, about a quarter or half million more than projected. Gross domestic product was 1.7 to 4.1 percentage points higher than it would have been without the stimulus."

A partial list of funds made possible by the passage of the American Recovery and Reinvestment Act and made available to New Hampshire residents follows below the fold.
William Tucker :: February 13, 2009: CSP Acts to Address Severest Economic Crisis since Great Depression
March 5, 2009: Shea-Porter Announces $13 million in Funding for New Hampshire Public Transportation

March 12, 2009: Shea-Porter Announces Nearly $50,000,000 Grant for Energy Efficiency Programs and Weatherization Fun

March 26, 2009: Shea-Porter Announces $1.6 Million in Grants for Clean Energy Projects

March 31, 2009: Congresswoman Shea-Porter Announces Middle-Class Tax Cut to Take Effect Tomorrow

April, 2009: Shea-Porter Announces $4.6 Million in Funding for Airport Infrastructure

April 9, 2009: Shea-Porter Announces More Than $320,000 For Emergency Food and Shelter Program

April 13, 2009: Shea-Porter Announces Nearly $10.5 Million for Unemployment Insurance Modernization Incentive Funds

April 14, 2009: Shea-Porter Announces Over $39 Million for Clean Water State Revolving Fund

April 15, 2009: Shea-Porter Announces Ottati-Goss Site to Receive Clean-Up Funds

May 6, 2009: Shea-Porter Announces that $250 Economic Payments to Go Out to Social Security Recipients Thursday

May 18, 2009: Shea-Porter Announces $127,500 Funding for Rural Community Facilities Projects

May 20, 2009: Shea-Porter Announces More than $2.5 Million in Funding for Portsmouth Passport Facility

June 2, 2009: Shea-Porter Announces More Than $8 Million for Affordable Housing Programs

June 12, 2009: Shea-Porter Announces Nearly $2 Million for UNH

June 13, 2009: $1,776,000 Federal grant stimulus dollars fueling Wildcat Transit

June 17, 2009: Shea-Porter Announces More Than $8 Million to Protect North Conway's Sewer System

July 2, 2009: Shea-Porter Announces $500,000 for Winnicut River Fish Passage Restoration

July 22, 2009: Shea-Porter Announces $400,000 for Brownfield Sites Clean-Up

July 28, 2009: Shea-Porter Welcomes $5 Million in Grants to Hire and Rehire Local Law Enforcement Officers

July 31, 2009: Shea-Porter Announces More than $550,000 for Dislocated Workers

September 1, 2009: Shea-Porter Announces Over $2 Million in DOJ Grants

September 11, 2009: UNH Crimes Against Children Research Center receives more than $1.8m in grants

September 23, 2009: Shea-Porter Announces More Than $1.6 Million for Londonderry Fire/Rescue

September 24, 2009: Shea-Porter Announces $1.8 Million for the NH Department of Environmental Services

September 30, 2009: Shea-Porter Announces More Than $480,000 to Fight Internet Crimes Against Children

October 6, 2009: UNH center receives $480,000 to fight Internet crimes against children

December 9, 2009: Obama announces $5 million for Dover health center

January 15, 2010: Shea-Porter Announces $6 Million for Middleton Building Supply

January 16, 2010: $6 million federal loan saves 100 jobs: Will help Middleton firm buy new saw mill

February 12, 2010: Shea-Porter Announces More than $5.4 Million for New Hampshire Department of Health & Human Services

February 12, 2010: UNH nets $2.9m in stimulus money to train health care providers

March 5, 2010: Shea-Porter Announces $715,000 for New Hampshire Transportation Projects

March 30, 2010: Shea-Porter Announces More Than $200,000 for Energy Efficiency in Carroll County

May 27, 2010: Shea-Porter Announces $85,000 in Stimulus Money for Lakes Region Community Services

June 25, 2010: Shea-Porter Announces Nearly $975,000 for NH On-the-Job Training
Tags: , , , (All Tags)
Print Friendly View Send As Email
February 13, 2009: CSP Acts to Address Severest Economic Crisis since Great Depression | 5 comments
The conservative economic argument holds that private entrepreneurs and (0.00 / 0)
corporations are best suited to determine where and for what purpose our national resources and assets are to be allocated.  It is this assumption which forms the basis for the "trickle-down" theory--that decisions made by the private sector, rather than the elected representatives of the people, will produce the greatest benefits for the common good of the general public.

"The money men know best."

The collapse of the economy and the systematic deprivation of the general public, along with the depletion of our natural resources and the deterioration of our national assets (the built environment) are now proof positive that the conservative argument is wrong and the assumptions are false.  They needn't be, but they are.  And the reason is simple.  Not only are the money men lacking in the foresight, talents and imagination to determine what's in the best interest of the general public, they don't even know what money is actually for -- spending.

Perhaps in the past some money men knew that investment was simply spending for things that would be available for use long into the future.  However, our current crop of money men have obviously confused investment and re-investment (replacing assets as they wear out) with hoarding and speculation -- i.e. the hope that money will magically be worth more in the future than it is now.  That is, our current crop of conservatives has been fixated on conserving the value of our currency (money), forgetting that "the best money is worthless," instead of conserving and preserving and restoring our nation's natural resources and real assets.  

Our money men have been fixated on the quantity of a worthless figment of the imagination while the welfare of our people and our environment has been deteriorating apace.  Navel gazing would be less detrimental because the money they've been hoarding is actually needed to lubricate trade and exchange.  Navel lint is really useless.

In any case, there's a good chance that the allocation of our nation's resources and assets by our elected representatives will be more successful in promoting the general welfare.  After all, they can hardly do worse than what the conservative agenda has left us.  

Should the federal government be in the business of lending money to individuals and private corporations?  Since it's the federal government that prints and issues our currency, the question should be "why not lend it out to whoever needs it and can put it to good use?"  Or, even more to the point, who decided that private bankers are needed as middlemen to direct our currency into the proper current?  What purpose is served by the Federal Reserve?

Talk about a public/private partnership that's outlived its use!

This is great. n/t. (0.00 / 0)


birch, finch, beech
1.3M Jobs @ $600K ea! WOW - How can I apply? (0.00 / 0)
Even assuming these dubious projections of an actual 1.3M - 2.8M jobs saved or created, $800B divided by 1.3M jobs = $600K per job, and divided by 2.8M jobs = $300K per job.

By avoiding waste, fraud, abuse & 'Enron-style' accounting, $800B would fund 8M jobs @ $50K/yr for 2 yrs. Whatever wasn't spent directly on payroll should have been spent on (American-made) equipment & support which likewise would pass-through in directly-impacted employment by vendors.

Pork is always nice, but maximum employment & job creation would have been more responsible public policy.

Please provide data (0.00 / 0)
for your claim of "dubious", and "waste, fraud, abuse, and Enron style accounting".

Then show us how your responsible stimulus plan makes 8 million jobs by putting every penny of 800 billion into salary (with no benefits, employment materials and infrastructure, or other associated costs of employment).

birch, finch, beech

[ Parent ]
Fuzzy Math (0.00 / 0)
Just over half has been spent so far. And it bought roads and bridges, airports, buildings, infrastructure, equipment, etc. And includes tax benefits, unemployment benefits, etc.

"Politics ain't beanbag" - Finley Peter Dunne
[ Parent ]
February 13, 2009: CSP Acts to Address Severest Economic Crisis since Great Depression | 5 comments

Connect with BH
     
Blue Hampshire Blog on Facebook
Powered by: SoapBlox