Thursday, March 4, 2010

$15B Jobs Bill

The house passed a $15B "jobs bill" intended to help job creation.[1] That is $109 T*Bux. I remember last month, when it was still $80B, being impressed with Washington's new restraint.

But it also announces clearly where the priorities of Washington lay. In 2008 a $700B ($5075 T*Bux) TARP, or "bank bill," was ramrodded through Congress over the course of a couple weeks. Shortly after Obama took office, a $787B ($5706 T*Bux) "public employees union bill" similarly found easy passage.

Maybe they think 10% unemployment and another 7% underemployment, and higher in places like California, is nothing to be very concerned about and $15B will solve everything. But I doubt that is why the figure is so low.

Words of trillion-dollar health care reform are still batted around as democrats strategize to get a couple republican votes needed for passage. So the easy money days of Washington are not totally over yet.

Source: House OKs $15B jobs bill.

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