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About 10 months ago I ranted a bit about the so called stimulus package then President Bush threw together. I didn't then and still don't like the idea of just throwing money at the consumer's and expecting them to go on a spending spree. I think last year's package was more of a stroking of his ego to try to get his approval rating up and a stroking of his Republican/Conservative base to try and show them he could "give back" to the people and try to put up a dust cloud to block out the god-like image that was being cast upon Obama at the time. All of this was put together during the final stages of the Democratic Primary and took some of the focus away.
If you would like to view the entire text of the Economic Stimulus Act of 2008 please feel free. But allow me to just give you some highlights.
TITLE I--RECOVERY REBATES AND INCENTIVES FOR BUSINESS INVESTMENT
Sec. 101. 2008 recovery rebates for individuals.
Sec. 102. Temporary increase in limitations on expensing of certain depreciable business assets.
Sec. 103. Special allowance for certain property acquired during 2008.
TITLE II--HOUSING GSE AND FHA LOAN LIMITS
Sec. 201. Temporary conforming loan limit increase for Fannie Mae and Freddie Mac.
Sec. 202. Temporary loan limit increase for FHA.
TITLE III--EMERGENCY DESIGNATION
Sec. 301. Emergency designation.
TITLE I--RECOVERY REBATES AND INCENTIVES FOR BUSINESS INVESTMENT
What is says is pretty much, everyone gets a little bit of money, Fanny and Freddy get alot of money and we're gonna put a little bit aside just in case.
Fat lot of good any of this did anybody! What did you do with your $300, $600 or $1200? Did you even get a rebate? We all know what happened with Fanny and Freddy, cuz they went back to the well and pull some more out of Bush's ass later in the year. And what happened with the "Emergency Fund"? Where did that go?
I will never be a fan of throwing money at anything to make it better. To me that is a bourgeoisie attitude (hi dad!).
Now it is a new year, we have a new President and we still are in the throes of a "recession". No one is quite ready to call it a depression, it will be interesting 50 years down the road to read the history books and see how it is classified. Ok, back on subject, new year, new President and oh yeah looky here we have a new stimulus package.
Again, if you would like to read the entire text of the American Recovery and Reinvestment Act of 2009 for your self you are more than welcomed. But please let me give you the gist:
DIVISION A--APPROPRIATION PROVISIONS
TITLE I--GENERAL PROVISIONS
TITLE II--AGRICULTURE, NUTRITION, AND RURAL DEVELOPMENT
TITLE III--COMMERCE, JUSTICE, AND SCIENCE
TITLE IV--DEFENSE
TITLE V--ENERGY AND WATER
TITLE VI--FINANCIAL SERVICES AND GENERAL GOVERNMENT
TITLE VII--HOMELAND SECURITY
TITLE VIII--INTERIOR AND ENVIRONMENT
TITLE IX--LABOR, HEALTH AND HUMAN SERVICES, AND EDUCATION
TITLE X--MILITARY CONSTRUCTION AND VETERANS AFFAIRS
