What the 787 billion in "stimulus" money has been used for so far.

[Better Believe It]

Does US need a second stimulus to create jobs?
With the economy still in rough shape, calls mount for extra infusions of federal money. But critics say the first stimulus hasn't created the jobs it was supposed to.
By Mark Trumbull
November 18, 2009

What has the massive stimulus achieved so far? Here’s an overview, based on data tracked by private-sector economist Mark Zandi:

• Some $50 billion, or nearly one-third of Recovery Act spending so far, has gone to safety-net programs and to one-time payments to Social Security recipients. The programs, including extended unemployment insurance benefits and food stamps, are not only compassionate but also effective at boosting consumer spending, says Mr. Zandi of Moody’s Economy.com in West Chester, Pa.

• About $59 billion has gone to tax cuts, affecting most workers and many businesses. The tax-cut virtue is that it affects pocketbooks quickly. A potential problem is that when people get the cash, many also get the feeling they’re eventually going to pay for that cash in higher future taxes.

• More than $50 billion in transfers to state and local governments has helped avert sharper budget cuts there. As many as 350,000 teacher jobs may have been saved, the Obama administration reported recently. Much of this state aid money flows through to the private sector, such as to hospitals (most of the state aid goes to support Medicaid).

• Only $14.4 billion has been paid out so far in direct federal spending on infrastructure and other projects. If the projects are socially useful, these investments can provide some of the strongest positive ripple effects for the economy, Zandi and others say. The bad news is they take time to get off the ground.

Speaking to Congress recently, Zandi said the high jobless rate is not a signal that the stimulus is failing. “If anything, it suggests the $787 billion stimulus was too small,” he said. He elaborated in a recent conference call with reporters, arguing that another $100 billion or so in stimulus spending could help ensure that the economy doesn’t relapse into recession next year.

http://features.csmonitor.com/politics/2009/11/18/does-us-need-a-second-stimulus-to-create-jobs/

[XemaSab]

1. All the infrastructure jobs around here have been repaving highways and bridges

I'm sure the road crews are happy about it, but I don't see how it helps anyone else. :shrug:

[Zynx]

2. They have higher incomes, they place orders for cement and machinery, that creates jobs

financing is involved at various points of the transaction which spurs jobs there, and so on. There is a huge multiplier effect.

[Better Believe It]

4. These plans would do a lot more than repaving and create over 2 million jobs.

Read the details:

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=433&topic_id=4209&mesg_id=4209

[SpartanDem]

6. Projects like that are much more shovel ready

than the more complicated ones.

[eppur_se_muova]

16. Bingo. Repair of neglected buildings tends to come along next ...

then new buildings to replace old ones.

Often the need for these improvements has been known (and postponed) for years, just waiting for enough money to get started. But the plans are already in place, just need little updates and off they go.

We're getting a new high school in our area -- old one has been suffering overcrowding for too long.

[geek tragedy]

12. How about the people who need to use the bridges and highways? nt

[jefferson_dem]

3. Yet another Debbie Downer offering from the OP.

... Boring ...

[geek tragedy]

11. This post was actually worthwhile--I rec'd it.

the first stimuulus was not enough of a good thing

[treestar]

14. Who strangely enough doesn't approve of the stimulus either

so that's two issues now.

[demosincebirth]

5. We got many streets repaved in our city, and still paving.

[Garam_Masala]

7. They repaved our street

but it did not need repaving! There were no pot holes
or other damage!

[sudopod]

8. Preventative maintenece is preventative.

[HamdenRice]

9. This isn't the 1930s, most Americans don't live in the forests or work on roads

It's kind of weird to hear how many people think that the stimulus should be some sort of 1930s civilian conservation corp or road building. How many people in the workforce live in the country (the people recruited into the CCC), and how many are in road construction?

The main point is to save and create jobs of the kind that people are doing. Here in NYC, I doubt a civilian conservation corp, of building dams and planting forests would create many jobs.

[AllentownJake]

10. High Speed Internet, building rail to connect cities, building new power plants

with a focus on Nuclear, wind, and solar power?

I know it wouldn't do that much for NY but I think my area of PA could benefit from those type of projects and I'm just 60 miles down I-78

[XemaSab]

15. I don't think most people in the 30's did those things either

:shrug:

[Vinnie From Indy]

13. Congress and the President are missing some big areas that would help Americans immediately

For example, one area that Congress could focus on is the credit card industry. These companies have raised rates on customers regardless of their payment history to 29.99% in advance of new regulations being implemented early next year. MILLIONS of Americans are being subjected to loanshark rates from these companies. It is theft on a grand scale! These massive rates increases are a huge anchor for millions of Americans and it will undoubtedly push many of them into bankruptcy and poverty. I am simply awestruck at the lack of response from Congress to this issue.

[butterfly77]

17. What I don't get is..

over and over again I have seen bills come up for votes and the republicons have put all types of taxcuts in them since Obama has been in office and no matter what the issue they say they need more tax cuts.

If the tax cuts are so good then why aren't the people who are getting them creating any jobs. Also,these republicons who are complaining about high taxes weren't they getting tax cuts from their buddy bush,and I am not talking about the rich.

I am talking about the teabaggers. Now,these people who run these businesses have no intention of creating jobs they and the chamber of commerce. They are doing this on purpose and laying off people unnecessarily just so that the economy will keep on tanking and so that they can use this for a talking point.

The republicons have all of the money, bush/cheney gave it to them. The republicons were running to Iraq all during the Bush adm to get some of the 9 billion dollars that is unaccounted for...