Stimulus would bring welcome relief to California (potentially $63 billion worth of "relief")

LA Times ^ | 1/29/09 | Richard Simon

[NormsRevenge]

Reporting from Washington -- As the $819-billion economic recovery bill approved by the House on Wednesday makes its way through Congress, officials 3,000 miles away have their eyes on a Santa Monica Pier upgrade and other projects that have been awaiting funding.

A $5-million plan to replace 78 wood piles that support the pier is among the hundreds of California projects that stand to benefit from the federal stimulus measure. In fact, the first major initiative of the Obama administration could deliver as much as $63 billion to the state.

* House passes $819-billion stimulus bill * Californians give thumbs-up to Obama, thumbs down to state officials * Economic stimulus package has a potential windfall for California government

Some of the money would help ease California's budget crisis, although officials in Sacramento say it would cover only one-quarter of the nearly $42-billion deficit.

A large chunk would go to fund shovel-ready projects, from old-fashioned street resurfacing to energy projects aimed at spurring a "green" economy.

And some would go into Californians' pockets: 12.5 million of the state's residents are expected to benefit from a tax break of up to $500 per individual and $1,000 per couple, according to the Center on Budget and Policy and Priorities.

"With California's unemployment rate soaring to 9.3% and no end in sight to our economic woes, this bill will give our state some help," said Rep. Zoe Lofgren (D-San Jose), head of the California House Democratic delegation. "This package is a step in the long journey to economic recovery."

The Senate is expected to take up its version of the stimulus bill, which includes similar provisions, next week.

The measure passed the House, 244 to 188, with no GOP support. ...

[NormsRevenge]

more heroin for the $pending junkies .. more baksheesh for the politicos

Change.

[DoughtyOne]

Norm, you and I agree on this. It does occur to me that federal decisions regarding real estate loans will impact many states negatively though.

California had screwed itself into the dirt way before this current economic mess blew out. It should dig itself out.

Under normal circumstances, I would think the feds should be responsible, for the damage they have caused, but that just puts us deeper into a problem long term.

I agree, this bailout would be heroin for the spending junkies. And it would be the bill to end all bills, as it pumped almost a trillion dollars into the Democrats and friends of the Democrat’s coffers.

This bill is so bad, that those voting to pass it could be considered to have committed a criminal act.

[Myrddin]

I left California to avoid paying for leftist whacko spending. Now I get to pay for it via federal taxes.

[P-Marlowe]

California has more than 10% of the country's population and the "stimulus" package is going to cost $819 billion and California is only going to get $63 Billion dollars out of the package.

Is anyone in Calfornia actually happy about this?

Based on these figures, California is getting screwed to the tune of almost $20 billion?

[Leisler]

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