Obama Stimulas Plan Details

I am trying to learn more about the details of Obama's Stimulus plan, now passed by the  House, and now under review by the Senate.

The 800 million dollar plan calls for many different spending elements. 

• energy research and improving the energy grids
• upgrading healthcare information technology such as electronic medial records
• construction projects
• broadband communications deployment
• safety net and welfare programs, some tax breaks for families, lower income workers
• tax breaks for businesses creating jobs in the U.S.
• money for cash-strapped state governments, school systems and Indian tribes

Here is a quote from VP Joe Biden regarding the plan which I have taken from the New York Times.

“If you notice, roughly 40 percent of this entire package is tax cuts,” the vice president said on CBS’s “Face the Nation.” “That’s not what the Democrats wanted. And 60 percent of it is spending, economic stimulus. That’s not what the Republicans wanted. But we’ve come a pretty long way already. So there will be, I’m sure, more compromise.”

My personal judgment is mixed on the plan so far.  I am not sure that giving senior citizens a temporary Social Security raise of $250  and a minimal tax withholding rate change on families is really going to stimulate the economy.  Lets face it, given an extra $600 most people are probably going to use it on their car payment or something like that not consumer goods that they can't afford.

I think the folks up in Washington don't really know what to do about the economy so they just want to print some money and throw it out there.  :::shakes head:::  I want to give Obama and his plan a chance and I think that most of the spending in the plan is a good idea.  I just want to be assured that they have the top economists lookig at the banking and credit situation.  And I hope to God they better manage how those TARP funds are spent.