President Obama signs $26 billion jobs bill to aid state payrolls
Posted August 11, 2010on:
- In: AFT American Federation of Teachers | Big Labor Unions | Economy/Money | national deficit, taxes, national budget | NEA National Education Association | Obama admistration | Obamanation | Politics 2010 | Progressives Movement to Destroy America | Redistributing wealth | SEIU Service Employees International Union
- 3 Comments
The President signed the No-Name Bill I blogged on in the previous post! There was no mention of the failure of the Senate to name the Bill so the House must have passed it as is: still a No-Name Bill. That doesn’t negate the fact that we tax payers have been had again Name or No-Name. It also means that states who’s governments have taken steps necessary to reduce spending and stayed within their budget are getting hit to bail out states who have spent their way into debt. I don’t see this states bail out setting well with debt free states. BB
President Obama approved a final spurt of spending Tuesday to shore up the sluggish recovery, signing into law a $26 billion plan to save the jobs of thousands of teachers and other government workers. The measure brings total direct federal spending on the economy to nearly $1.2 trillion since the nation descended into recession in late 2007.
Republicans derided the measure as a handout to teachers’ unions, a key Democratic constituency, and argued that it would be no more successful at promoting a robust economy than the massive stimulus package Obama signed shortly after taking office in January 2009.
In a midday vote, the House approved the bill 247 to 161, with all but two Republicans voting no. The measure would provide governors with an additional six months of federal assistance: $10 billion for education and about $16 billion for Medicaid, which will allow them to avoid shifting cash away from other priorities.
The sum is about half what Obama requested. Democratic leaders were forced to scale back the package by rank-and-file Democrats concerned about how more spending would play with angry voters. They also had to cover the cost of the measure so that it would not increase future deficits. The bill includes nearly $10 billion in new taxes on U.S. multinational corporations that do business abroad, and it rescinds after 2014 an increase in food stamp payments enacted in last year’s $862 billion stimulus package.
By voice vote, the House also approved a $600 million bill to shore up surveillance and security along the troubled U.S.-Mexico border. Senate leaders said they could return to Washington to push that measure to final passage as soon as next week. (More on this in the next post. BB)