Belt-tightening by state and local governments offset almost all of President Obama's stimulus spending, according to a recent study.
A tax credit here and an expanded program there are part of Obama's new plan to relieve financial stress on the middle class. Among the beneficiaries, if Congress goes along: families with children in child care, college students, and workers without employer-sponsored retirement programs.
Vice President Biden goes to Georgia Thursday to announce $182 million in stimulus grants for increasing broadband access to homes and businesses in 17 states. A total of $2.5 billion of stimulus money has been set aside for broadband projects.
The White House says the economic stimulus accounts for 640,000 jobs. But the picture is mixed across the US.
A first report card shows the federal Recovery Act money means hiring more electricians, carpenters, and others across the country. But it’s not necessarily in states with the highest unemployment rates.
A tax credit to spur hiring can help trim unemployment, say experts, but comes with a heavy price tag. The revenue loss for a 1977 scheme was $5.7 billion.
Modest effort may still face still opposition in Congress.
Liberal economists see the $3.6 trillion proposal as a 'step in the right direction.'