Stimulus Money

How does buying more efficient vehicles create new jobs?
 
One would assume that people with jobs make cars. Guess it depends where we buy the cars from.
 
President Obama
said "now's the time to buy",
so let's have another cup of coffee
and let's have another piece of pie.
 
Massachusetts stimulus funding projects

If there was a dedicated thread on this before, feel free to merge it in.

http://www.thecrimson.com/article.aspx?ref=527021

Stimulus To Fund Transportation
Published On Monday, March 09, 2009 12:02 AM
By LIYUN JIN
Crimson Staff Writer

Massachusetts Gov. Deval L. Patrick ?78 announced on Friday that $437.9 million from President Obama?s stimulus package is targeted for state transportation projects.

According to a press release on Patrick?s official Web site, approximately $153 million of that amount will be given to ?shovel-ready? highway and transit projects advertised for bid within the next 120 days. Shovel-ready projects are those that already have all requisite approvals and permits in place.

For Cantabrigians, this could mean a new $36 million pedestrian bridge from North Point Park in Cambridge to Paul Revere Park in Charlestown, a highway project identified by the state as eligible for federal funding.

The press release also said that $319 million in funds will go toward the Regional Transit Authorities and the Massachusetts Bay Transportation Authority for projects like Green and Silver Line enhancements, station repairs, and facility upgrades.

Local projects that are awaiting a decision on federal funds include the construction of a new elevator in the Harvard T station, which would cost $7.7 million, and a 30,000 sq. ft. skate park in East Cambridge with a price tag of $1.8 million.

According to Patrick?s Massachusetts Recovery and Reinvestment Plan Web site, no decisions have been made yet regarding which of these projects will receive federal funding. As of Feb. 23, the state has compiled more than 3000 shovel-ready projects that might get money.

Projects from Cambridge that continue to await judgment regarding shovel-ready status include the renovation of Cambridge Rindge and Latin High School and fire safety improvements for City Hall.

?This is a work in progress,? said State Representative Alice K. Wolf. ?Right now there are lists of projects that have had prior approval to be shovel-ready, but there?s still going to be another level of approval.?

Cynthia M. Roy, spokeswoman for the state?s Office of Administration and Finance, said that the selection of specific projects to receive funding will be based on a number of factors, including the number of jobs created, long term economic benefits, and sustainable development principles.

In addition to transportation funding, Massachusetts is in line to receive between six and nine billion dollars over the next two years for education, health care, public safety, housing, and other programs.

On Friday, President Obama announced that Massachusetts will receive $40.7 million for law enforcement assistance and crime prevention programs, including $246,068 for the City of Cambridge.

According to Patrick?s Web site, the federal stimulus money will not be distributed as a lump sum. Some of the money will be directed through existing state or municipality programs, while other funds will flow directly to individuals, families, and businesses in the form of tax cuts and credits.

But Wolf?who said that she is anxious about funding for essential services like education and healthcare?said that she viewed this method of funding as ?fragmented.?

?It?s like putting together a jigsaw puzzle, but we don?t know what the end looks like,? Wolf said.

In December, Patrick established 10 task forces to prepare Massachusetts for the receipt of stimulus funding from the $787 billion American Recovery and Reinvestment Act. Signed into law in February, the bill is designed to jump-start the economy and create or save jobs.

?The stimulus package will help enormously,? said Patrick in a testimony to the State?s Ways and Means Committee last week, ?But it will not close our budget gap.?

In order to address the state?s current $1.1 billion shortfall, Patrick said the state needs new sources of revenue?such as a proposed increase in the gas tax?and budget cuts.
 
Re: Massachusetts stimulus funding projects

?This is a work in progress,? said State Representative Alice K. Wolf. ?Right now there are lists of projects that have had prior approval to be shovel-ready, but there?s still going to be another level of approval.?
...which is another way of saying they're not shovel-ready at all.

Isn't it time we cut through the obstructionism and recognized that the greater good must govern in a crisis such as we have, and we need to stop putting obstacles in the path of getting the money spent and into the economy?
 
The only way out of this MESS that our corrupt GOVT created, "is if WAGE rises Dramatically and historical average interest rates return to the market."

The reason we are in this mess is TAXES, BAILOUTS, GREED, and POLITICANS.

Every Economy faces an economic cycle but to prevent a recession by bailing out people that fail is keeping back the entrepreneurs that actually take risks.

?Rome is on fire. The government is pumping gasoline through the fire hoses, and the only ones benefiting are the recipients of the trillions and trillions of dollars of your money. Fairly soon, I think it will be safe to say that the formerly prosperous middle class will become the working poor, in a land filled with half-vacant strip malls selling shoddily-made crap to a populace so numb and dazed it doesn't know the difference and can't remember anything better. Just as 50 years ago seems like a fairy-tale time, when a gas station attendant could support a wife, kids, a car or two, and a home on his salary, a few years ago will sound surreal to our children; imagine a time when two working parents could afford a home and a car! Imagine when there was enough work for both of them to even work steadily! Imagine owning a car! Or a home! That's crazy talk, and we can't change things, so why dwell on it...b?

Keep bailing out your local greedy politicians & their business associates.
 
Just as 50 years ago seems like a fairy-tale time, when a gas station attendant could support a wife, kids, a car or two, and a home on his salary, a few years ago will sound surreal to our children; imagine a time when two working parents could afford a home and a car!

50 years ago the US was the only industrial power left standing after two World Wars and had no economic competition. The standard of living was artificially inflated because of that and by no means sustainable. All the heavily unionized industries who made agreements based on that economic dream time, and never adapted agreements realistically in the decades thereafter, were crushed by reality starting in the late 60s-early 70s when global competition really kicked up. The immediate postwar period was a fairy tale which will likely never happen again, the sooner people realize that the better.

We are entering the same global geopolitical-economic competitive atmosphere (only with today's technology on steroids) which existed prior to World War One. People need to realize the geopolitical-economic game is going back to being that complicated again.
 
The reality my friend is our DOLLAR has been devalued by the FEDERAL RESERVE. EASY MONEY LOW INTEREST RATES created an ASSET Bubble economy.

YOu need a SOUND currency to keep ORDER in Society. The people that work hard for a living should be REWARDED.

That is the REALITY.
 
The only way out of this MESS that our corrupt GOVT created, "is if WAGE rises Dramatically and historical average interest rates return to the market."

The reason we are in this mess is TAXES, BAILOUTS, GREED, and POLITICANS.

Every Economy faces an economic cycle but to prevent a recession by bailing out people that fail is keeping back the entrepreneurs that actually take risks.

?Rome is on fire. The government is pumping gasoline through the fire hoses, and the only ones benefiting are the recipients of the trillions and trillions of dollars of your money. Fairly soon, I think it will be safe to say that the formerly prosperous middle class will become the working poor, in a land filled with half-vacant strip malls selling shoddily-made crap to a populace so numb and dazed it doesn't know the difference and can't remember anything better. Just as 50 years ago seems like a fairy-tale time, when a gas station attendant could support a wife, kids, a car or two, and a home on his salary, a few years ago will sound surreal to our children; imagine a time when two working parents could afford a home and a car! Imagine when there was enough work for both of them to even work steadily! Imagine owning a car! Or a home! That's crazy talk, and we can't change things, so why dwell on it...b?

Keep bailing out your local greedy politicians & their business associates.

Who are you quoting and why? I cannot figure out what this has to do with anything.
 
^Sounds like a Lew Rockwell fan to me.

The reality my friend is our DOLLAR has been devalued by the FEDERAL RESERVE. EASY MONEY LOW INTEREST RATES created an ASSET Bubble economy.

YOu need a SOUND currency to keep ORDER in Society. The people that work hard for a living should be REWARDED.

That is the REALITY.
Too bad about Friedman running the numbers on Mise-ian Business Cycle Theory. I mean, you've got to be doing something seriously wrong when Friedman and Krugman can BOTH point out your errors.
 
"Who are you quoting and why? I cannot figure out what this has to do with anything."

Who do you think is going to pick up the TABS for these construction projects?
City & State taxes will be rewarded to help these developers get fixed rate loans for 30 or 40 years. Why do you think our taxes go up. If you can't afford to build it then DONT.

That is why I posted this information.
 
Boston.com - Sept 22, 2009
HUD OK's $69.7m in loan guarantees for the Hub
September 22, 2009 11:50 AM

The US Department of Housing and Urban Development said it is approving a $69.7 million loan guarantee to the city of Boston that will create a revolving loan pool that aims to kick-start stalled real estate development projects and stimulate the hiring of nearly 2,000 full-time workers.

"The city of Boston will create the Boston Invests in Growth Loan Fund, a program intended to boost commercial real estate development throughout the city by offering gap financing for projects in the $10 million to $15 million range," the department said in a press release.

Among local projects that are likely to benefit from this program are the $10 million construction of the new W Hotel, the construction of the Shops at Riverwood, and a plan by Pappas Enterprises and Gloria Foods to facilitate the opening of a new neighborhood market in South Boston, the department said.

In its release, the department noted that its Section 108 Loan Guarantee Assistance Program looks to enable local governments to borrow money at reduced interest rates to promote economic development, stimulate job growth, and improve public facilities. (Globe Staff)
 
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What are "the Shops at Riverwood" and this neighborhood market in Southie?

Why can none of this money go to Filene's?
 
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I wonder even if giving 100% of this money to Filene's (which would be politically disastrous) would be enough to get it to where they need to be.
 
Why is money being handed to the Papas family to build a supermarket to sell their condos? Can't junior just sell one of his race cars?

The fact HUD money is going to things like this only reinforce my belief it is nothing but a corrupt vote buying enterprise.
 
Isn't the W just about finished? What needs to be jump started on that project?!

edit: didn't see that was dated august. Also the shops at riverwood are fucking stupid to be receiving any money at all.
 
^^ Err... Sept, not Augt. I don't even know what month this is...

Fixed.
 

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