Economic Recovery Measures
Yesterday evening, President Obama addressed a Joint Session of Congress to propose his newest economic recovery measure -- The American Jobs Act. The President's bill would have a $447 billion ten-year cost, which the President says would be fully paid for in the proposal he will give to the Super Committee a week from Monday recommending the Committee exceed its $1.5 trillion mandate.
Leading up to President Obama’s job speech tomorrow evening, there has been much speculation as to the measures the president will propose. The current expectations are that he will suggest a $200 - 300 billion jobs plan, including extensions of the payroll tax holiday, unemployment insurance, and certain business incentives.
With the housing market still depressed almost five years after the housing bubble burst, the Obama administration is seeking input from private investors on methods to convert foreclosed properties owned by Fannie Mae and Freddie Mac into rental homes.
June has come to a close. With that also comes an end of the second round of quantitative easing, known as QE2.
Yesterday, Treasury announced that it would be selling its 6.6 percent equity stake in Chrysler to Fiat, which represents the last outstanding TARP investment in the company, which has been receiving assistance from the program since January 2009.
In early 2009, lawmakers enacted an economic stimulus package to help stem the economic freefall which was shedding hundreds of thousands of jobs per month as the unemployment rate was on a quick climb towards ten percent. Regardless of the merits or size of a fiscal stimulus package, we at CRFB warned against supposedly temporary provisions lasting much longer than the stimulus dictated.
Meet Kate, a fictitious 41 year old Generation X member. How will our leaders’ fiscal choices affect her life? In our fifth and final installment of our “Meet the Generations” series, we look at Kate’s fiscal future, based on the two alternative futures scenarios from our recent paper “America’s Fiscal Choices at a Crossroad: the Human Side of the Fiscal Crisis”.