H.R.1 Passes – Obamas Stimulus Package Moving Fast

Author: Jared Fallon

The 111th session of Congress has started kicked off 2009 with hot and heavy activity. With President Obama in office barely 1 week and over 337,000 American jobs lost since the financial crisis began, lawmakers are desperately scrambling to help prevent America’s recession from becoming a depression.

The main bill on the table that’s turning heads around the nation is H.R.1 – the American Recovery Reinvestment Act of 2009. The bill, sponsored by David Obey (D-WI), was passed by the House as expected on Tuesday January 27. H.R.1 is the economic stimulus bill as promised by President Obama and touted by House Democratic Leadership, leading the way for the “Change we Need”. The Senate’s version of the bill, S.1, is anticipated to be proposed as soon as possible, aimed to receive President Obama’s signature by the end of February. The official text for H.R.1 can be viewed here.

H.R.1 seeks to make “supplemental appropriations for job preservation and creation, infrastructure investment, energy efficiency and science, assistance to the unemployed, and State and local fiscal stabilization…”.
The 647 page bill is so formidable at first glance that entire websites have been created simply to better understand the legislation. One such website is ReadTheStimulus.org, a seemingly hastily developed cite that is sponsored by Republican and Libertarian oriented organizations such as the Heritage Foundation, the National Taxpayers Union, Citizens Against Government Waste, and Taxpayers for Common Sense.

This major economic stimulus bill is the bread and butter of President Obama’s promise for change – and to Democratic Leadership’s delight has moved with incredible speed, riding upon the momentum to give the economy the boost it needs in order to keep Americans afloat. Momentum for this change can be seen by testimonies such as Congresswoman Lee (D-CA) in the video at the bottom of this posting.

Opponents of the bill, such as Dick Armey’s Freedomworks, believe that such a plan is destined to set a permanent precedence, following the same pattern of some of the socialist-oriented programs from the New Deal. Furthermore, the current $850 billion being requested for the stimulus package will cause the Federal Government to borrow one-third of its current budget, to the tune of almost 10 percent of GDP. Such concerns are deepened by somewhat vague allocation terms as outlined in H.R.1, such as “infrastructure spending”, worrying fiscal conservatives for an expected surge in pork projects.

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Congresswoman Lee’s Support of H.R.1