US House Passes $819 Billion Stimulus Package
The U.S. House of Representatives has passed an US$819 billion economic stimulus package, with money for broadband deployment, health IT and a national electric smart grid included.
The House passed the American Recovery and Reinvestment Act on a 244-188 vote late Wednesday. None of the House's 178 Republicans voted for the bill.
Republicans had complained that U.S. President Barack Obama and congressional Democrats were pushing through the legislation without enough debate. But House Speaker Nancy Pelosi, a California Democrat, said the legislation was needed immediately to help the U.S. economy pull out of a recession.
"I say this legislation is long overdue," Pelosi said on the House floor Wednesday.
Several Republicans complained that the bill contained too much spending and not enough tax cuts. The spending will create a larger government deficit, and the U.S. government will need to borrow money to fund all the projects in the bill, said Representative Dan Burton, an Indiana Republican.
:
Dear Future Generations,
On behalf of those of us that opposed this bailout, please accept our apology for the stupidity of our generation’s government for putting you generation’s into dept.
All of the bad economic and social problems that you are facing in your decade is the fault of the selfishness of this present generation. Please forgive us for screwing up your lives with this massive bailout and the chain of financial bondage that you now face…we sold you kids out for a moment of comfort.
The generation of 2009 has failed you. Hopefully you will not follow in our foot steps, and maybe even find a way out of it.
(An apology to future generations)