economic stimulus package

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This Sign Is Wasting Your Money—and Killing People

(Newser) - The federal government has mandated that every road project funded by stimulus money proudly tout the association with road signs, and that really steams Tait Trussell. The signs, “designed to meticulous federally dictated standards,” go for about $1,000, Trussell writes on Front Page. “So, publicizing thousands...

Paralyzed Dems Ignore Slow-Burn Crises: Krugman

(Newser) - When the economic crisis turned terrifying last winter, Washington finally got its act together and passed a massive stimulus package. But now, writes New York Times columnist Paul Krugman, the US faces a slower but more dangerous "jobless recovery" over the next few years and an "utterly terrifying"...

Nice Trip, Now Get Back to Work, Mr. President

(Newser) - President Obama got his usual hero's welcome overseas, but this trip seemed "jarring and discordant" back in the US, writes Cynthia Tucker in the Atlanta Journal-Constitution. Our economic news keeps getting worse by the day, yet at summit after summit, “photos of the Obamas in resplendent, gold-bedecked palaces...

Obama: No 2nd Stimulus
 Obama: No 2nd Stimulus 
Jul 11, 2009 8:49 AM CDT

Obama: No 2nd Stimulus

(Newser) - President Obama dismissed the idea the nation needs a second stimulus to jolt the economy out of recession in his radio address today, and urged Americans to be patient with his recovery plan. Faced with rising unemployment numbers and criticism from Republicans who have already labeled the $787 billion injection...

Krugman to Obama: I Told You So
Krugman
to Obama:
I Told You So
OPINION
Jul 10, 2009 10:23 AM CDT

Krugman to Obama: I Told You So

Bush-style hedging on possible 2nd stimulus isn't helping anyone

(Newser) - A second economic stimulus package looks increasingly necessary, and President Obama may get "caught in a political-economic trap" if he doesn't act soon, warns Paul Krugman in the New York Times. The Fed is out of the picture, and the White House has to deal with legislators convinced that...

Most Economists Oppose Second Stimulus in Survey

(Newser) - Rumblings about the need for a second stimulus are growing louder, but most economists in a Wall Street Journal survey want no part of it. Only eight of 51 like the idea. The rest favor a wait-and-see approach, arguing that the full impact of the current stimulus won't be felt...

Stimulus Shortchanges Cities
 Stimulus Shortchanges Cities 
Jul 9, 2009 7:43 AM CDT

Stimulus Shortchanges Cities

(Newser) - Two-thirds of the country lives in big cities, but less than half of the federal stimulus’ transportation money is going to fix their often crumbling roads, the New York Times reports. States were allowed to decide for themselves how stimulus money was spent, and state lawmakers have a long history...

Food-Stamp Funding Boost Gives Economy Quick Lift

Money gets spent fast; $5 in stamps yields $9.20 in activity

(Newser) - The boost in food-stamp funding included in President Obama’s stimulus bill is pumping cash into the economy, the Wall Street Journal reports. In April, families of four on food stamps started getting about an extra $80 a month. Every $5 spent in food-stamp money means a quick $9.20...

While US Dallies, France Spends Its Stimulus

(Newser) - France has a reputation for stifling bureaucracy and long vacations, but when it comes to stimulus spending, the country is racing ahead of the US. This summer, workers are completing massive renovation projects not just for roads and rails, but to museums and cathedrals, and royal palaces. According to the...

We're Doomed Without Another Stimulus: Krugman

Jobs report offers scary echoes of 1930s stagnation

(Newser) - Yesterday's grim jobs report is the clearest sign yet that the US desperately needs another fiscal stimulus, writes Paul Krugman in the New York Times. This is 1930s redux: a Democratic president has pushed through an insufficient program, while strapped state governments cancel out federal spending with their own budget...

Facing $24B Shortfall, Calif. Gets No Love From Feds

Washington refuses state's requests for aid

(Newser) - California may be the world’s 8th-largest economy and key to President Obama’s re-election, but requests for financial aid are falling on deaf ears in Washington, Politico reports. The Golden State remains deadlocked over a $24 billion budget deficit, and many of its own officials are unsympathetic. “Why...

Axelrod Won't Rule Out Second Stimulus
 Axelrod Won't 
 Rule Out 
 Second 
 Stimulus 

TALK SHOW ROUNDUP
Jun 28, 2009 11:16 AM CDT

Axelrod Won't Rule Out Second Stimulus

Grassley says GOP 'won't be hoodwinked' on health care reform

(Newser) - With unemployment rates still rising, the White House isn’t ruling out the possibility of a second stimulus package, The Hill reports. On This Week, David Axelrod refused to “prejudge” the issue. But on Face the Nation, Mississippi Gov. Haley Barbour countered, “The real long-term effect is very...

Stimulus Boosts Americans' Incomes
Stimulus Boosts Americans' Incomes
Jun 26, 2009 2:11 PM CDT

Stimulus Boosts Americans' Incomes

Consumers tuck funds away: Savings rate hits 16-year high

(Newser) - Incomes in the US got a big boost from federal stimulus dollars in May, the Commerce Department reported today. But weary consumers stashed most of that lucre away, sending the savings rate to a 16-year high. “Households are reverting to a more sustainable spending path vis-à-vis income,”...

Obama Needs to Toughen Up on Health Care: Krugman

President is dooming reform effort with 'giveaways': Krugman

(Newser) - Barack Obama loves to talk about his post-partisan approach to politics, finding common ground on domestic policy and bringing Republicans into his fold. But on many issues Obama "searches for common ground where none exists," New York Times columnist Paul Krugman writes, and the resulting bills are far...

Obama's Pet Power Plant Gets Stimulus Cash

(Newser) - When the stimulus was in the works, President Obama went to great lengths to show he was sacrificing his top pet project—a clean-coal power plant to be built in Illinois—on the altar of fiscal responsibilities. “It shows that we’re serious,” a rep for Nancy Pelosi...

It's Too Soon for Feds to Ease Up on Economy
It's Too Soon for Feds to Ease Up on Economy
OPINION
Jun 15, 2009 9:42 AM CDT

It's Too Soon for Feds to Ease Up on Economy

If Washington cuts off the cash, recession will worsen: Krugman

(Newser) - With critics prematurely calling on Washington to scale back financial rescue efforts, economic history fans see “déjà vu all over again,” writes Paul Krugman in the New York Times. This is the third time a major economy has been stuck in a liquidity trap, and both previous...

Questionable Projects Gobble Stimulus Funds
Questionable Projects Gobble Stimulus Funds
analysis
Jun 14, 2009 12:20 PM CDT

Questionable Projects Gobble Stimulus Funds

Report skeptical of $2M dance center, $1M Okla. guardrail

(Newser) - The economic stimulus is funding a variety of projects, but some possibilities—like a $1.1 million move to fix a guardrail no one uses—don’t seem to fit President Obama’s vision for the money, the Los Angeles Times reports. Oklahoma Sen. Tom Coburn will question such projects...

Net Worth of US Households Sinks Another $1.33T

(Newser) - The net worth of US households—assets minus debt—fell $1.33 trillion in the first quarter to $51.71 trillion, the Wall Street Journal reports. The 2.6% drop is smaller than the 8.6% of 2008’s fourth, a Fed report says. The first-quarter data don’t include...

GM-Owning Feds Buy Rival Fords
GM-Owning Feds Buy
Rival Fords
Jun 11, 2009 5:30 AM CDT

GM-Owning Feds Buy Rival Fords

General Services Administration spends $129M on competition

(Newser) - The federal government isn't letting its stake in General Motors and Chrysler stop it from doing business with rivals, the New York Times reports. Ford, the only one of the Big Three not to receive bailout funds, won the biggest order in the General Services Administration's recent stimulus-funded $287 million...

Obama's 'Jobs Saved' Claims Are Pure Hokum
Obama's 'Jobs Saved' Claims Are Pure Hokum
OPINION
Jun 9, 2009 8:46 AM CDT

Obama's 'Jobs Saved' Claims Are Pure Hokum

Ex-Bushie: Media won't call White House on its unmeasurable metric

(Newser) - President Obama confidently declared yesterday that the stimulus plan had already “saved or created” 150,000 American jobs and would “save or create” another 600,000 by this summer. Which is pretty surprising, former Bush official William McGurn writes in the Wall Street Journal, because the economy’s...

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