Big changes to Obama stimulus plan

Yea, politico. Except lots of opinions on this.


Big changes to Obama stimulus plan
By MANU RAJU | 1/11/09 8:01 PM EST


President-elect Barack Obama tried Sunday to shore up support in Congress for his ambitious economic policies, with his top advisers offering concessions on his economic-stimulus proposal and preparing to detail conditions for how the incoming administration will spend the second half of the $700 billion financial rescue package.

Emerging from a two-hour meeting in the Capitol with Obama advisers Lawrence Summers and Jason Furman, Senate Democrats praised the President-elect's team for agreeing to make changes to its stimulus proposal based off of concerns senators raised last week at a meeting with the president-elect’s senior aides.

The Obama team told about 35 Senate Democrats gathered at Sunday’s meeting that it would grow the size of an energy-tax incentive package and modify proposed tax credits for individuals and for businesses that hire new employees, according to meeting attendees. Also, with lawmakers raising concerns that the first half of the $700 billion of the financial rescue law was badly mismanaged, Obama’s team signaled it would lay out precisely how it would spend the second half of that package, which Congress is expected to consider as soon as this week.

“It’s very clear they’ve listened, they’ve heard and that they’re moving to respond,” said Sen. Kent Conrad, chairman of the Budget Committee, who questioned previously whether the tax credits in the stimulus package were enough to encourage new jobs. “It was very, very healthy. They’re not defensive, not arguing back, they’re listening, they’re attempting to hear and they’re responding.”

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http://www.politico.com/news/stories/0109/17335.html

And agreed, if he plans to play it above board he'd better get ready to rumble.

the appearance of it. Whatever will work.

before he makes a final proposal.

I'm okay with that.

Which is score one for Obama in my book. Score two is the fact that, even if I disagree with his eventual decision, if he does what he says he's going to do he at least gets consistency/honesty points. So unlike Pres. Caligula, on both counts.

his entire campaign! :toast:

:toast:

:sarcasm: Clearly he's a trojan horse! :sarcasm:

Long live :sarcasm:!! I'm glad for this. I was sucked into finals but glad I'm here. I was pulled in after the stuff going on in the Gaza Strip. I can't wait to see the final economic plan. I just hope there is no pork-barrel concessions done and we're good. The boy scout can do without some arrows this year.

I would assume without reservation that Pres Obama would not reverse the end of the taxing of toy arrows as if they were real professional arrows. They are made by a handful of very small 'cottage' industries, who make very little profit. The tax had been applied to the toy arrows in the same amounts as for real arrows. A professional arrow is a tad spendy, hand cut feathers and all. A toy arrow costs a few cents. In most cases the tax was as much as or more than the price of the toy arrow itself. These small businesses all stopped making them, for the youth groups that use them could not pay double for the wee training toys.
I actually know the story in great detail, as one of the toy arrow makers is in my region, and I used to know people who were in the professional arrow making business, so there was interest to me. I know for example that our Rep did not ask for that reversal, did not know it was being put into the bill, and voted 'no' on that bill anyway, as it was one giant give away pork barrell.

Who writes these headlines? TARP is just the most recent, poorly planned, fucked up thing that Bush is leaving behind that Obama will have to fix. Nobody wants to continue this smoke and mirrors thing that Bush's cronies have done with this money since October.