Intersecting Minds: Education, Business and Technology at the North Carolina State Jenkins Graduate School of Management

Where The Stimulus Dollars Are Probably Going | January 18, 2009

Last week, I mentioned that we had several guest speakers talk with us about strategies to aid us in our internship search. Judee Lonnee, a member of our Career Resources department mentioned that we should follow the money. More specifically, she meant the TARP funding that is coming through Congress. President-Elect Obama has requested the additional $350 billion in TARP funds, and the House Democrats have put forth an additional stimulus package of $825 billion. Marc Ambinder, a political analyst for The Atlantic, has a breakdown of where the stimulus money under the Dems plan would go:

Moolah — a large expansion of unemplyoment benefits, increasing the duration and amount of the money; also: a big expansion of the (highly stimulative) foos stamp program.

Education: $41 billion for school repair; nearly $80 billion to states and local governments to prevent criticial services from being cut; $15.6 billion for Pell grant expansion; $6 billion to colleges and universities

A passel of other items, like a few billion for home heating subsidies.

COBRA — $39 billion worth of new spending to allow folks who’ve lost their job to keep their employer’s insurance even longer.

Highway/Road/Rail: $30 billion for projects; also, billions for light rail, upgrades and repairs and Amtrak.

Energy: $11 billion for the electricity grid, $8 billion in loan gaurantees for new power station / transmission projects, $6.7 billion to make government buildings more energy efficient, $6.2 billion to help poor families make their homes more energy efficient; $600 million for new, energy efficient cars for the federal fleet; $2.4 billion for carbon capture research;

Businesses: $430 million for small business loans; $100 million for rural business grants; several hundred million to help foster job growth in the manufacturing sector and in localities hit hard by the recession.

Science — $3 billion fo rthe National Science Foundation, $2 billion more for the NIH, hundreds of millions for high energy physics, satellite development, construction grants, the U.S. geological survey, NASA climate change programs and more.

Tax Cuts — Obama’s downpayment on payroll tax relief — $500 per person, $1000 per couple. The Earned Income Tax Credit will be expanded.

Digital conversion — $650 million in new coupons for the digital television transition.


Posted in Economy

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