2009 Stimulus Package

The Congress passed a $787 billion stimulus package on February 13, 2009. The measure passed in the House with no Republican votes. Three Republican senators, Susan Collins, Olympia Snowe and Arlen Specter joined the Democrats to pass the bill, by a vote of 60-38, in the Senate. President Barack Obama, who originally drafted the American Recovery and Reinvestment Plan, signed the bill into law on February 17, 2009.

On April 14, 2009, during a speech at Georgetown University, President Obama shared with the country that his stimulus package is beginning to "generate signs of economic progress." He cited the facts that workers are being hired and credit is beginning to flow. He also warned that tough times are not over for the American people.Bloomberg: ...Pitfalls Ahead Before Economy Recovers (April 14, 2009)

Stimulus Refusal

On February 19, 2009, Republican governors Rick Perry (Texas), Haley Barbour (Mississippi), Bobby Jindal (Louisiana), Sarah Palin (Alaska),Mark Sanford (South Carolina) and C.L. "Butch" Otter (Idaho) have all commented that they're considering turning down any funds.Washington Times: Some governors won't take stimulus money (February 19, 2009)

Specific Provisions

Criticism

Many Republicans have opposed the bill, including notable conservative pundits Rush Limbaugh and Ann Coulter, and no Republicans voted to pass the bill in the House of Representatives. Republicans have opposed the bill because they say it includes too much spending, but doesn't include enough tax cuts or jobs.USA Today: Stimulus uncertainty: How fast will the impact be? (January 28, 2009) Republicans drafted an alternative to the bill, which mostly included tax cuts. That bill was defeated with 266-170.Houston Chronicle: House approves $819 billion economic stimulus bill (January 28, 2009)

Nostimulus Petition

Americans for Prosperity, a conservative political group, started a petition against the stimulus package. With publicity and the viral nature of the Internet, the group's website went down on February 9, 2009, as people visited the site en-masse. The group opposed the stimulus package because of what it considered excessive government spending. The fear is that the package will put an extreme burden on taxpayers over the long term.Real Time Economics (WSJ): 'No Stimulus' Petition Illustrates Public Anger Over Plan (February 9, 2009)

House Vote

The U.S. House of Representatives approved a $819 billion version of the stimulus bill on January 28, 2009. That bill was originally developed by President Barack Obama. The plan included provisions to spend 75% of the total cost, or about $600 billion, by the end of the year 2010, to provide a significant boost to the struggling U.S. economy.The New York Times: Republicans Are Resistant to Obama's Stimulus Plan (January 25, 2009) No Republicans voted for the bill in the House, and 11 additional Democrats voted against it.

2008 Stimulus Package

The 2008 stimulus plan of $168 billion was approved in February 2008 and included tax rebates in form of rebate checks, a rescue plan for distressed mortgages and tax breaks for small businesses.

References

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