New York (CNNMoney.com) –They're not calling it Stimulus 2, but the Obama administration wants to extend the life of several Recovery Act provisions by building them into the federal budget.
The president's $3.8 trillion budget for fiscal 2011, unveiled Monday, calls for giving states more money for Medicaid and infrastructure projects, as well as renewing tax breaks for workers, small businesses and municipalities issuing bonds. It also requests additional funding for Obama's educational reform initiative, Race to the Top.
All these were key provisions in the $862 billion American Recovery and Reinvestment Act, a massive two-year stimulus program enacted last February. Many of its measures are set to run out this year.
But none of Obama's budget measures will take effect unless Congress incorporates them into legislation. And, at the moment, "stimulus" is not the most popular word on Capitol Hill.
from NTU - look it up if you don't believe it.
Congressional pay and perks directly add hundreds of millions of dollars to the yearly bill that Americans are forced to pay for the federal government - a significant cost for taxpayers, even if pundits dismiss the amount as a "drop in the bucket." Yet, beyond the basic issue of dollars and cents, Congress's perks have other pernicious effects. They distort the budget process, by diminishing lawmakers' moral authority to say "no" to special interest spending requests and benefit boosts for other government officials. They distort the electoral process, by tilting the playing field against challengers. Most importantly, they undercut efforts for long-term economic and budget reform, by insulating Members from the real-world effects of their own policies.
Voters were already upset about TARP and the stimulus last year. Then Obama submitted his first budget with came with a huge increase in spending and average deficit projections of a trillion dollars for the next 10 years. That was the tipping point for the public. That is what lit a fire to the Tea Party movement.
Now throw in attempts to pass cap and trade and trillion dollar health care reform followed by another budget with another huge increase in spending and even larger deficit projections. Anyone want to guess how already angry, movtivated and now organized voters are going to react? Anyone want to guess how many Tea Party protesters are going to show up in the April 15 Tea Party in D.C. to give Obama a loud piece of there mind? Anyone want to guess how few Democrats will be left in office after the 2010 election?
It will be interest to see how many Blue Dog Democrats will be willing to vote for this out of control spending bill. I am getting a sense they have had about all they can take of Obama's spend us to oblivion agenda.
Obozos education reforme ins nothing more than more money to the NEA to dumb down more kids so they will vote democratic. Looks like another $3 trillion was like the War on Poverty was.