Tuesday, December 08, 2009

Obama to Announce New Stimulus Package

by Calculated Risk on 12/08/2009 08:39:00 AM

From Jeff Zeleny at the NY Times: Obama Announces New Jobs Programs

President Obama on Tuesday will announce three proposals intended to turn around the nation’s beleaguered job market ...

The speech, according to a senior administration official, will outline a series of steps to help small businesses grow and hire new staff. The president also will call for increasing the investment in infrastructure through building and modernizing highways, railways, bridges and tunnels. He also will propose a new program that provides rebates for consumers who retrofit their homes to become more energy efficient.
The president also will call for using some of the $200 billion in Troubled Asset Relief Program to help pay down the $1.4 trillion budget deficit.
So there are three parts: 1) apparentaly a tax credit for businesses to hire new employees, 2) more infrastructure investment, 3) and a cash-for-caulkers program.