a billion here, a billion there, after a while, we are talking about a lot of money

The news has been dominated by the Stimulus package. Considering we are talking about almost a trillion dollars, I thought I would do a bit of research and break down for you exactly how much money will be spent and where it is going. I would love your opinions, either pro or against, certain spending.

1. The biggest chunk will be in tax cuts. About $145 billion in tax cuts (or about $500 per person.) These would last for two years. This will come out to the average worker paying about $20 less a week in taxes. Sorry rich people, those individuals making more than $70,000 or couples making a combined total of $140,000 would be phased out quicker. Meaning they would only get tax cuts for a few months. (The exact time is being debated in the senate right now.)

2. Education. $79 billion to states in financial relief to ensure there are no further cuts in education. Another $25 billion would go toward increased funding for special education. $14 billion in additional Pell Grants and $1 billion for the Head Start program. Another $14 billion would go towards a $2,500 tax credit to those paying for college tuition.

3. The poor. $47 billion would go toward increasing the pay-out for the unemployed by $25 a week. $16.5 billion would go toward an increase in food stamp benefits. $3 billion for welfare. In additional $18.3 billion would go toward a $1,000 tax credit if you have a child and are "poor".

4. Infrastructure. $46 billion would go toward transportation projects including bridge repair, road repair, and other mass transit projects. $6.4 billion would toward clean water projects.

5. Health care. $21 billion would go towards subsidizing health care insurance for the unemployed through COBRA. An additional $100 billion dollars would go towards Medicaid and improving health technology systems.

6. Cash. $17 billion dollars will go toward one-time payments of $300 to a veteran, a person on social security, or someone on welfare.

7. Homebuyers. If you buy property in 2009, you will receive a $7,500-15,000 tax credit. There also will be a smaller credit if you buy a car (the details are still being worked out.)

8. Business. Another $15 billion towards failing companies to offset previous losses.

What do you think? Overall, I give the bill a D+. There is a LOT of money being spent here and I am not sure how much of it will actually create jobs and stimulate economic growth. If I were the government, I would greatly increase the spending on infrastructure and reduce the amount of money being spent everywhere else. I think the tax cuts will not work. We have had six years of the Bush tax cuts. I can understand why fiscal conservatives hate the plan. It is outrageously liberal. The bottom line is I think this is mainly wasteful spending but as I have said before, I am not a great economics mind and the most brilliant economists in America are all saying we need some sort of a stimulus plan.