Banks have received their bailout. And the auto industry got its survival check, too.
Now, the the House of Representatives has finally turned its attention to the rest of us by passing broad jobs-creation legislation.
But don't run to fill out a job application just yet. The Senate likely won't take up debate of the job package until next month.
One bill will include $48 billion for construction projects; another puts aside $27 billion for states to keep teachers, police and other public-sector employees on the payroll. Yet another is designed to fund small-business loans and extend jobless benefits.
About half of the total $150 billion price tag will be paid for with money from a $700-billion federal fund for bank bailouts approved by Congress last year.
While Democrats are looking to use money paid back from the bailout for job creation, Republicans in Congress are pushing to use the funds to pay down the national deb, which has increased to $12 trillion.
Comments: (2)
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By: Mike on 12/17/2009 2:08PM
Yeah, and remember $150 billion dwarfs the appx 3 trillion the powerful (you know who) lobby got for their mideast adventures. He who has the power gets the money as they show us every time.
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