Notes on the Stimulus

So, we have a stimulus package that is in front of the Senate (60-38 with 3 GOP votes). They are voting on it as I write. I thought I would put a few notes about the package. Read all about it here - stimulus.

• Passed in the house 246-183...with no GOP support
• $787 Billion total cost
• Will raise national debt to $12 TRILLION!!!
  
• Temporary AMT relief
• $800 payroll tax cut for married couples, $400 for individuals, $250 for vets who do not get the $800 cut
• $59 Billion for unemployment aid
• $29 Billion for highway construction
• $15.6 Billion for tuition aid
• $11 Billions for new electrical grid
• $8 Billion for mass transit

I will offer my insights (opinions) about the stimulus after it passes the Senate (although, I was listening to a Senator today who said that his office received the 1,400 page document after 11pm last night - exactly how is any Senator going to be able to know the scope and nature of the stimulus package having that large of a document less than 24 hours?). Everyone thinks this is a done deal (since we are clearly a partisan Country).

SIDE NOTE: Citi, Chase, B of A, and Wells Fargo (added to Fannie and Freddie) have decided to freeze all foreclosures until March due to a housing recovery plan that Obama's administration is presenting next week (more on this once it comes out).