January 15th, 2009
11:20 AM ET
11 years ago

House Dems offer $825B stimulus bill

NEW YORK (CNNMoney.com) - After weeks of talks with President-elect Barack Obama's top aides, House Democrats on Thursday released a summary of an $825 billion economic recovery package that calls for $275 billion in tax cuts and $550 billion in spending and aid to states.

House Speaker Nancy Pelosi, D-Calif., again expressed confidence that Congress would reach the mid-February deadline for getting a bill to Obama's desk.

But, she noted, "this [package] is just the first step."

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Filed under: Congress • stimulus plan
soundoff (56 Responses)
  1. Robbie

    tax relief in the form of payroll tax reductions isn't exactly welfare...this is giving extra money to people who WORK and HAVE JOBS. This isn't going to welfare, it's going to relieve the financial burdens from people who work 40-60 hour weeks and still can't get by.

    January 15, 2009 02:03 pm at 2:03 pm |
  2. Anonymous

    Why are we still in bed with the FED, America was built on christian principles and my bible says be debt free and live,
    Why dig ourselves in such a huge hole with this Family.
    I say figure out a way to pay off our debt to China and the Feds and live the way our Founding Fathers wanted us to live, debt free, and free, We still have trillions, we can do it. But why don't we?

    January 15, 2009 02:06 pm at 2:06 pm |
  3. Val in MA

    I thought yesterday Nancy said "Jobs, jobs, jobs, jobs" are in the stimulus package.

    All I see is billions in tax cuts to the 45% that don't work at all and billion in spending and aid to states.

    Leave it to liberals and democrats to get the economy going – they have no clue.

    The bottom line is: LIBERALS SUCK!

    January 15, 2009 02:06 pm at 2:06 pm |
  4. Kendall

    Why are we still in bed with the FED, America was built on christian principles and my bible says be debt free and live,
    Why dig ourselves in such a huge hole with this Family.
    I say figure out a way to pay off our debt to China and the Feds and live the way our Founding Fathers wanted us to live, debt free, and free, We still have trillions, we can do it. But why don't we?

    January 15, 2009 02:07 pm at 2:07 pm |
  5. Peter

    I believe that we need a stimulus package....As for the size, Id like the $350 billion from the last one to go with whatever Obama wants. In this case, the $825 billion, it'd only be $475 billion if we put the "Urgent bailout" money in. Then from there we then get out of Iraq, giving us lots of money, try to oversee where bailout funds are going, destroy loan sharks and hopefully by January 2010 we'll all be back in the Clinton years with unemployment under 5%

    January 15, 2009 02:13 pm at 2:13 pm |
  6. Rave

    Kendell, what does your Bible ask you to do – when you loose your job and cant find an other one ?? Hmmm, something to think about.

    January 15, 2009 02:21 pm at 2:21 pm |
  7. AnnMM

    Kevin, HULLLO!!!!!!!!! Low income people have INCOME and therefore pay taxes. Good God man think. Low income means they do work for living but at a low paying job. It is a tax cut.

    January 15, 2009 02:24 pm at 2:24 pm |
  8. Steve

    Ken,

    You claim Bush caused this but exactly how much power does ANY president have over the economy? How about little to none! The real power over the economy rests with the folks who write laws and overseees government agencies. A little group of folk we like to call the Congress. You want to really blame someone, it would both the Congress and folks who just could not seem to live within their means both businesses and individuals. It is so much easier toblame Bush than to actually research and find out the truth! A little something I like to call LAZY and IGNORANT!

    January 15, 2009 02:25 pm at 2:25 pm |
  9. MD

    The Nancy Pelosi-Harry Reid-Barack Obama Depression is now officially underway.

    January 15, 2009 02:25 pm at 2:25 pm |
  10. Snake eyes

    8 YEARS OF RECORD DEFECITS AND ALL OF A SUDDEN THE GOP GROWS A FISCAL CONSCIENCE?? NOW THAT WE ALL SEE THAT TAX CUTS FOR THE RICH DONT MAKE A STRONG ECONOMY, WHAT ELSE DO THE REPUBS HAVE TO OFFER??? I SAY TRY SOMETHING NEW, LIKE ACTUALLY CREATING TANGIBLE JOBS THAT DONT INVOLVE TRADING IMAGINARY MONEY OVER THE AIRWAVES

    January 15, 2009 02:25 pm at 2:25 pm |
  11. MD

    Dear Val in MA:

    There are no tax cuts to the 45% who don't work at all. A few years ago, we called it WELFARE.

    January 15, 2009 02:26 pm at 2:26 pm |
  12. J. S.

    Pelosi and a lot of the Congress are out of touch with the real world. Isn't Pelosi worth millions? What will this paper money be based on? Gold? the printing press? This will only lead to inflation.

    January 15, 2009 02:28 pm at 2:28 pm |
  13. brian

    I love all the comments about bailing out welfare voters, etc. Hey people, all of the states that voted for McCain, with the exception of Texas, are welfare states (i.e. they take more from the gov than they put in). It's funny that the states with the best welfare systems have the most educated, highest standard of living, pay more than their fair share of taxes, etc. and vote democratic. Keep on smoking Repubs....

    January 15, 2009 02:28 pm at 2:28 pm |
  14. J. S.

    Pelosi is worth $millions–totally out of touch with the real world. this will only lead to big time inflation...

    January 15, 2009 02:29 pm at 2:29 pm |
  15. Danny in Chicago

    So THIS is where all the Republican bloggers go?

    I thought they all ran and hid under their beds after the THRASHING they've received lately....

    January 15, 2009 02:30 pm at 2:30 pm |
  16. AnaB

    @Anonymous "All of us legitimate taxpayers will have to bear the burden, AS USUAL, paying for the welfare of others."

    Ah, I love how repubs think they are the only hard working, tax paying people and that the rest of us live off welfare. You do know that no matter how many times you all say it, it still doesn't make it true don't you?

    January 15, 2009 02:31 pm at 2:31 pm |
  17. Andy J, Upstate NY

    MSM-

    Sorry, but your take on this is wrong. Kevin is 100% right.

    Those who don't make enough money to pay income taxes will get the same amount as those who do pay income taxes.

    Read it and weep, i know i sure am.

    Would anyone go home and suggest spending $10,000 when you are already $5,000 in debt? COMMON SENSE IS DEAD.

    January 15, 2009 02:35 pm at 2:35 pm |
  18. attacking a little sad's math

    You said California received less money back per dollar sent than Texas.

    CORRECT!

    I agree there.

    But you don't mention that California has triple the tax dollars sent than Texas based on population.

    So, what you have done has removed all the facts so that you win an argument, which is PATHETIC.

    Plus, Alaska gets like $17.00 for every dollar sent.

    Could it be because it's based on population and size...

    Now, if you want to report ALL THE FACTS, instead of mouthing off, then go right ahead.

    January 15, 2009 02:42 pm at 2:42 pm |
  19. Kat

    So, when do I get my check?

    January 15, 2009 02:45 pm at 2:45 pm |
  20. closet republican

    I have to say this. When the economy first went down the tube about 4 months ago this is what should have happened. Instead of the government throwing hundreds of billions of dollars at these large corporations, banks, and wallstreet, they should have issued every individual tax payer roughly $20K and the economy would have jump started itself within a week. The problems with the economy is the consumer, not the worthless companies that have people at the top that don't know how to run it. I'm an advocate for small government, but if they were going to throw money at everyone then they should have thrown it in the right direction. It looks like the cycle is going to continue in the wrong direction though...

    January 15, 2009 02:48 pm at 2:48 pm |
  21. Maggie in NY

    brian – WELL SAID

    January 15, 2009 03:03 pm at 3:03 pm |
  22. WELCOME TO THE OBAMA SHOW!!!!!!!!!!!!

    AFTER THIS FAILS WHATS NEXT???????????????????

    HEY OBAMA FANS HOW ABOUT THIS!!!!!!!!

    PRESIDENT GEORGE BUSH INAUGURATION 4 YEARS AGO COST APPROXIMATELY 35 MILLION DOLLARS.

    FOR HUISSAIN OBAMA THE COST WILL BE APPROXIMATELY 130 MILLION DOLLARS!!!!!!

    THE FUNNY THING IS CITI BANK WHO NEEDS ANOTHER BAIL OUT IS ONE OF THE MAIN CONTRIBUTORS THE HUISSAIN OBAMAS INAUGURATION!!!!!!

    GUEST WHAT WE ARE PAYING FOR IT!!!!!!!!!!!!

    BUT I GUESS IF YOU ARE AN HUISSAIN SUPPORTER IT'S OK!!!!

    January 15, 2009 03:08 pm at 3:08 pm |
  23. No Incumbents 2010

    Go ahead it's only money, we'll print more.

    January 15, 2009 03:24 pm at 3:24 pm |
  24. AL+

    I say give everybody a clean slate on there credit report. develope an agency that will REALLY check the persons finances to make sure they can pay back and i can bet you that the economy will start getting back in shape. Banks have the money now so why not. More sales= more job at retail and factory level. Deduct payments from payroll if you have too. what ever it takes.

    January 15, 2009 03:34 pm at 3:34 pm |
  25. Scott Tucson

    You want to stimulate the economy? Eliminate the payroll taxes and while you're at it, closed down the IRS and just have a federal sales tax.

    January 15, 2009 03:46 pm at 3:46 pm |
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