published Wednesday, February 4th, 2009

Tennessee: Stimulus package could deliver thousands jobs for area


by Herman Wang
Audio clip

National Conference of State Legislatures

WASHINGTON — Tennessee could gain 75,000 new jobs from the economic stimulus package, while Georgia could add 113,000 jobs over the next two years, according to an estimate released Tuesday by the White House.

The stimulus bill could create about 3.7 million jobs if it passes, the White House said.

“We need to immediately jump-start job creation and President Obama’s American Recovery and Reinvestment Plan will help those who have suffered the most during this economic crisis,” National Economic Council Director Larry Summers said Tuesday. “Our economy is in the midst of an unprecedented crisis and we need to act now.”

The National Conference of State Legislatures said Tuesday that, with states facing a combined $83 billion shortfall in their fiscal 2010 budgets, the stimulus would provide welcome relief.

“The states obviously have an interest in obtaining assistance from the federal government,” NCSL Deputy Executive Director Carl Tubesing said. “They can’t deficit-spend. The decisions they make to close their budget gaps actually have an effect on the economy.”

JOB CREATION

Jobs to be created by economic stimulus package:

* Tennessee: 75,000

* Georgia: 113,000

* Total U.S.: 3.7 million

Source: White House

Tennessee is expected to get about $3.8 billion from the $819 billion package that passed the House last week. Georgia could get $5.7 billion.

The Senate bill, now being debate, is $884 billion. The Senate spent Tuesday voting on amendments and is expected to vote on the full package by the end of the week.

The bill, a priority of President Barack Obama’s, includes spending on highway and school construction, renewable energy programs, Medicaid relief for states, extended unemployment benefits and other programs.

Republicans have complained that the bill is larded with wasteful spending that will do little to actually stimulate the economy.

“It is staggering to me that anyone could think about borrowing $1 trillion in this proposal here, and spending it mostly on things that don’t create jobs,” Sen. Lamar Alexander, R-Tenn., told CNN on Tuesday.

PDF: Obama Administration Announces Nearly $100 Million for Smart Grid Workforce Training and Development

PDF: DOD stimulus

PDF: Cemetery spending

AP Graphic: Jump in Jobless

AP Graphic: Economic Stimulus, Where the $787 Billion will go

Article: Tennessee: Governor hopes stimulus holds tuition down

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PDF: TN stimulus fund allocations

Article: Tennessee: State stimulus up to $4.5 billion

PDF: Chattanooga MPO Stimulus Priority List Submittal

Article: Chattanooga: Stimulus road funding starts flowing

Article: Perdue again slashes Georgia’s state budget

Article: Georgia House passes midyear budget

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PDF: New Era of Responsibility

Article: Hamilton County: Stimulus may not aid school budget

Article: Perdue, Bredesen may reject jobless stimulus funding

Article: Chattanooga: Corker: Stimulus 'huge mistake'

Article: Tennessee: Bredesen says money from stimulus still will require state cuts

PDF: Georgia funding breakdowns of the Senate-passed bill.

PDF:Tennessee funding breakdowns of the Senate-passed bill.

Article: Tennessee: Region’s Senators vote no on stimulus

Article: Bradley County: Local agencies welcome stimulus

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Article: Area senators join GOP chorus against stimulus

PDF: State Allocations

Article: Tennessee: Oak Ridge could get $300 million from stimulus

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Article: States stand to gain billions from stimulus

PDF:State by state Economic Recovery

PDF:State by state tables Economic Recovery House Appropriations Committee

PDF: State-by-state tables Economic Recovery T&I Committee

Article: Area Republicans criticize stimulus as too expensive, while Democrats say aid is needed

Article: Tennessee: ‘Stimulus’ projects include area bridges

PDF: Stimulus Package GDOT

PDF: Proposed Stimulus Considerations

PDF: Tennessee Stimulus Projects

Article: Tennessee: Officials push for student bailout

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Article: Tennessee: Bredesen says governors back Obama’s stimulus idea

Article: Transportation planner wants more stature for group

Article: TDOT chief looks to trim road project costs

Article: TDOT studies routes, toll for bridge project

Article: Widening part of U.S. 27 through downtown Chattanooga moves to forefront

Article:Eye on the pole monitors traffic

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Article: Chattanooga: State eyes stimulus to aid at plant site

Article: Chattanooga: BB&T state chief envisions further growth in area

Article: Tennessee: Bank’s economist predicts stimulus package

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Article: Questions linger on road project

Republican leaders said their alternative will include a 4 percent government-backed mortgage to all creditworthy Americans to refinance or buy a home and a $15,000 tax credit for home purchases.

“A $15,000 tax credit, 4 percent mortgage, restart housing, instant jobs,” said Sen. Alexander, who holds the No. 3 leadership post among Senate Republicans. “That’s the best way to help the economy, and it would cost a third to a fifth as much as this trillion-dollar spending proposal that the Democrats have presented.”

Ten GOP senators, including Georgians Johnny Isakson and Saxby Chambliss, met Tuesday morning to discuss their own proposals.

None would say what was discussed, but CNN reported that the group has concerns that GOP leadership’s primary focus on the housing market and tax cuts won’t be enough to help the economy recover.

“The meeting was an informal group of GOP senators who have good ideas on how to best stimulate the economy,” Isakson spokeswoman Sheridan Watson said.

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pigsken said...

politicians and CEO's got us into this economic mess, and we expect them to have the right answers to fix it ?

February 8, 2009 at 8:52 p.m.
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