Peter Blane

H.R. 1

Posted in government by wusspett on August 20, 2009

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

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.”

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.


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