The 2009 Obama Stimulus Plan is estimated to cost more than the Vietnam War, with figures adjusted for inflation. You most likely heard about the stimulus plan but you may not know exactly what is in it. That's understandable, because Congress did not seem to know well.
What the stimulus package will cost Obama?
Currently, the plan includes 550 billion U.S. dollars in new spending and $ 275 million in tax relief for a total of $ 825 million. Having trouble wrapping your brain numbers of this size? If you wanted to count to 1 billion, it would take 95 years. If you want a container sufficiently large to keep goldfish 1 billion, would be as big as a stadium.
What's on Obama's stimulus plan?
$ 100 million for clean energy initiatives. These include ethanol, wind and solar power to name a few.
Extend credit Child tax of 6 million households
Double renewables for the next 3 years. Obama wants to power 6 million homes with renewable energy over 3 years.
Expand COBRA. (The option of health for the newly unemployed)
$ 27 billion to continue the expansion of the program unemployment benefits through December 31, and another $ 9 billion to increase the average unemployment check of $ 25.
"Shovel Ready" projects. Increased security at 90 major ports, 1,300 projects of modernization of waterways, 380 drinking water projects, rural projects and 1,000 water and sewer.
Bridges, roads, and mass transit improvements
Renovation of 10,000 schools and fund the shortfall in Pell grants, which would increase affordability 7 million college students.
Put more than 3,000 miles of electric transmission lines and install 40 million "smart" utility meters to monitor energy use in homes.
Acclimate at least 2 million households and 75 percent of federal buildings.
90 billion U.S. dollars to increase the federal share of Medicaid payments and 79 billion U.S. dollars to help states avoid cuts in education and other services.
Firm incentives to capital expenditure. The construction of new plants and investment in new equipment will result in cuts taxes.
The Obama aides also weigh the merits of a "Buy American" clause. This would force the companies contracted to purchase supplies from U.S. companies. For example, steel can not come from sources often cheaper abroad.
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