Wednesday, February 18, 2009

Obama's Stimulus

The $787B stimulus package has been signed in to law, yesterday. It's a diffuse increase in spending on a range of government services that leaves me neither offended nor hopeful. The amounts per program are listed in this link—time will tell how it all plays out. I have a feeling some of its infrastructure development, like renewable energy and electronic medical records, will be shifted to emergency bailouts of the states. Debt servicing would add up to around $330B over 10 years.

The statutory limit on national debt is increased to $12.1 trillion (an increase of $789B from when the TARP was passed). Gross Domestic Product in the United States runs around $14 trillion.

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