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Recovery Act
Dead Stimulus Walking: Feds Mailed Millions in Checks to the Deceased, Jailed
By David Knowles - AOL News(Oct. 7) -- Who says you can't take it with you? According to a new report from the Office of the Inspector General, $18 million worth of stimulus checks were mailed out to people who were no longer among the living. Here is how the report broke the news: Our review disclosed that 71,688 beneficiaries who were deceased before the payment certification date received an ERP. This included 63,481 beneficiaries whose deaths had been reported to SSA and 8,207 Prouty beneficiaries whose deaths were generally not reported to SSA. As a result, we estimate SSA issued about $18 million in ERPs to ...
Poverty Rate Isn't Only Bad News for US Economy Lately
By David Knowles - AOL News(Sept. 16) -- As the American economy shows some signs of pulling out of the worst economic downturn since the Great Depression, a host of dire statistics paints a less-than-rosy fiscal portrait for poor and middle-class citizens. Growing Poverty Rate The U.S. Census Bureau announced today that the poverty rate in America rose from 13.2 percent of the population to 14.3 percent. That means that 43.6 million people, a full one out of every seven U.S. citizens, now lives below the poverty line. For a family of four, that means an annual income of $21,954 or less. Growing Number of Uninsured In ...
Why Hasn't the Economy Recovered Yet?
By Paul Wachter - AOL News(Sept. 13) -- In the current issue of the New York Review of Books, there's a good primer on the roots of the 2008 economic crises and explanations for its lingering impact by Robin Wells and Paul Krugman. While the United States and Europe have, for now, avoided a Great Depression-like crash and GDP is rising again, other indicators are not as reassuring. The writers point out: Yet unemployment has hardly fallen in either the United States or Europe -- which means that the plight of the unemployed, especially in America with its minimal safety net, has grown steadily worse as benefits run ...
White House Wants Billions for the Economy -- But Don't Call It a Stimulus
By Alex Wagner - Politics DailyWith a majority of Americans critical of the president's handling of the economy, most of the public disapproving of the direction in which the country is headed, and looming midterm elections that threaten to be a bloodbath for Democrats, the White House is under extreme pressure to do more to get the ailing national economy back on its feet. So this week, the Obama administration unveils three measures aimed at jump-starting job creation and helping businesses -- or at least blunting criticism that the president has not done enough and that his course of action has been the wrong one. ...
Stimulus Plan in Hindsight: Did Obama's Agenda Hobble Economic Recovery?
By Jill Lawrence - Politics DailyAmerica can't shake its recession blues, even if the recession is officially over. The painfully slow recovery is typical in the wake of a financial crisis like the Wall Street collapse, economists say. Still, the hard times are so persistent that I have been feeling twinges of guilt about President Obama's stimulus package. Many of Obama's ideas for a new economic foundation ended up in that package: expanded broadband coverage, competitive grants for innovative schools, computerized medical records, more science research, more investment in clean energy. I wanted all that, and the stimulus ...
White House Rebuts Boehner, Stimulus Critics With New CBO Report
By David Knowles - AOL News(Aug. 24) -- What affect has the $787, scratch that, now $814 billion stimulus bill had on the economy since it was passed in early 2009? On Tuesday, three separate takes emerged from three high-profile sources. According to House Minority Leader John Boehner, the effect was primarily was a "job-killing" one that should cost Treasury Secretary Timothy Geithner and economic adviser Lawrence Summers their jobs. According to the White House, the stimulus "prevented economic contraction" and is spurring innovation in clean energy, transportation and medical technology. Finally, according to a ...
Biden Champions Recovery Act Investments in Clean Energy, Science
By Alex Wagner - Politics DailyInsisting that the stimulus plan is indeed working, Vice President Biden Tuesday unveiled a White House report showing that the recovery act's $100 billion investment in innovative industries such as solar energy, electric cars and scientific research is transforming the economy, creating jobs and cutting costs for consumers. Standing alongside Secretary of Energy Steven Chu, the vice president delivered his remarks to a White House audience of recovery act recipients, including representatives from clean technology companies and scientific research institutions. Biden was enthused as he ...
Fighting the 'Big Is Bad' Narrative: Dems Go Bite-Sized on Recovery, Health Laws
By Jill Lawrence - Politics DailyHouse Republicans have gone home for their August recess armed with a memo mocking Democrats for billing this season as "Recovery Summer." A better name, campaign committee chairman Pete Sessions wrote, might be "Run for Cover Summer." Democrats "have their backs to the wall," he said, because of their unpopular "big-government agenda." There is plenty of fodder for Republicans' "big is bad" narrative, given the huge stimulus, health care and financial regulation laws enacted in the last 18 months over their near-solid opposition. The GOP story line is simple and thus far effective: Big ...
Bill Clinton and Warren Buffett: Business Boosters for Obama
By Alex Wagner - Politics DailyIn a sign of the increasingly hostile relationship between the private sector and the Obama administration, the U.S. Chamber of Commerce on Wednesday sent an open letter to the president (as well as to Congress and the American people), blasting those in leadership for "taking their eyes off the ball," "neglecting America's number one priority," and "vilifying industries while embarking on an ill-advised course of government expansion, major tax increases, massive deficits and job-destroying regulations." In sum, the chamber concluded, "Policymakers are needlessly prolonging economic agony" ...
Obama and the Rhetoric of Recovery: Practice Makes Perfect?
By Alex Wagner - Politics DailyIf there were an economic recovery version of the "Mad Libs" word game, it would probably look a lot like this: In (name of mid-to-far Western city) on (date this summer), President Barack Obama will visit the (manufacturing plant) where he will tour the facilities and deliver remarks on the economy to workers. The (manufacturing plant) received a (number less than 50) million-dollar Recovery Act grant to develop (type of clean technology). The award is helping (manufacturing plant) to create (number) jobs and expand (type of clean technology) manufacturing throughout the region. Never mind ...
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