H.R. 1

Did you know that H.R. 1 was passed earlier this year? (signed by the president february 17th 2009)

• http://www.govtrack.us/congress/bill.xpd?bill=h111-1

Well, the American Recovery and Reinvestment Act of 2009 was passed to “specify appropriations for a wide range of federal programs and would increase or extend certain benefits payable under the Medicaid, unemployment compensation, and nutrition assistance programs.”

• http://www.cbo.gov/ftpdocs/99xx/doc9968/hr1.pdf

The congressional budget office (CBO) estimates this will “increase federal budget deficits by $169 billion over the remaining months of fiscal year 2009, by $356 billion in 2010, by $174 billion in 2011, and by $816 billion over the 2009-2019 period.” (see link above).

The government is doing a great job at spending, but still can’t seem to pass a bill that is going to DECREASE the deficit.