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House Posts Stimulus Bill :: H.R 1

January 26, 2009 - by David Moore

The biggest bill so far in this session of Congress has arrived and is scheduled to be introduced today: H.R. 1, the American Recovery and Reinvestment Act of 2009. This is the much-anticipated House version of the massive federal stimulus bill, centerpiece of the Obama Administration’s efforts to combat the economic recession and companion to the Senate version (S.1, our most-viewed bill). This first version of the bill presents an $825 billion recovery package, developed by House Democratic leadership and the Obama Administration. House Republican leadership opposes the bill in its current form, but it is expected to be voted on and to pass the House as early as this Wed., Jan. 28th.

Over the weekend, the text of H.R. 1 was posted over at Speaker.gov (unfortunately, as an unwieldy 647-page .pdf document), but as soon as it’s published online by the Library of Congress, we’ll have the full text available for open public review and your comments. For now, check out the OpenCongress stimulus bill page for a summary, initial news and blog coverage, and more. To speak out and give your personal vote on this stimulus bill, and to track its status in Congress, login or join OpenCongress, it’s free and easy. Of course, we’ll be covering the stimulus debate closely on our blog, and you can stay in touch with the latest developments and vote results by subscribing to our RSS feed. Lots more coverage to come on these important stimulus bills… if you’re writing about them, feel free to link to our bill page as an open-source public resource, and we hope you’ll use the “share this bill” tools at the top of the page to help spread the word that the stimulus bill is here and ready for your input.

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Comments

  • Anonymous 01/28/2009 8:12am

    The government needs to stop spending money. Stop printing false money. Stop the bail-outs, even better yet, go back and get the money already given out! If a business can’t make it, then let it go under. People are different in their abilities for work. Some are the “owners” and some are the “workers”. Sucessful ones still own and work without “bail-outs”. We have many people living the life of the “rich” strictly on credit and more money is being given out for this. The american people are proud and willing to work, but when there are so many “gimme” programs, who wants to work and sweat. The american people will take care of theirselves and their neighbors without Government taking over our lives. Our congress has totally lost reality and don’t have a clue as to the “real” world. They will soon own all of us because when the last workers and owners can no longer pay the tax burdens, then we will be “slaves” of the government.

  • Anonymous 01/28/2009 12:45pm

    themselves not theirselves. theirselves is not a word.

  • bln318 02/06/2009 9:28am

    I wrote a letter to President Obama and have sent it out to the news and media regarding 1 aspect of this whole mess: bank nationalization. here’s my story:

    Dear Mr. President: I sent out the following letter to you approx. a week ago and I fully expected to hear from you!! After all, that was the intent of my letter when I wrote it to you. I do realize that you must be one of the busiest men in the world trying to save a free country from disappearing. But please, I wanted you to understand what nationalization of the banks will do to everyday “little” people such as myself. I wanted some acknowledgement and assurance from you that you hear me and will protect my rights to keep my 401(k). Lack of a response is a source of real concern for me. I believe that is exactly what is being discussed behind closed doors. Isn’t itI am sitting here watching the news and finding out the Wall Street handed out the 6th biggest year of bonuses! YIKES!!!!!!!!! What is so painfully obvious to me, all Americans and the rest of the world is that the bankruptcy of the minds and morals of these CEO’S and politicians have lead to the bankruptcy of this country!!! That is the saddest statement I have ever written/said. My representatives took our money, gave it to immoral,corrupt,devoid people who in turn handed it out to each other!!!! Under a cloak of secrecy no less!!! Is it any wonder we are still spiraling down the toilet I for one have lost all hope in any recovery for this country. Once again, I am asking that you read the letter below. Thank you for your time Mr. President…….. I will be sending out my comments to every tv station and internet site that I can.
    -——————————————————————————————————————-

    Original Message -

    From: Babs Norris
    To: comments@whitehouse.gov
    Sent: Friday, January 23, 2009 4:33 PM
    Subject: Dear Mr President:

    I hope you dont mind President Obama- I have sent this letter out in a few different ways to ensure that you might see this!!!

    Sent: Wednesday, January 21, 2009 1:46 PM

    Dear President Obama: I am writing you in a desperate, desperate hope, that you receive this and you hear me!!! This is the single most important letter of my life, so I will try very hard to convey to you my thoughts in the best possible way I can. I see that there is talk about bank nationalization. I also understand that this process usually eliminates the debt owed to the shareholders.

    If that should happen, I will NEVER have a chance to recover my retirement money.

    I wish to put a name and story behind 2 of the shareholders who stand to lose all. That would be my husband and myself. There are some things I would like you to know. My husband has worked for over 22 years at Merrill Lynch!!! We live in upstate NY and for all those years, my

    husband faithfully boarded a train to wall Street at 5:30 every morning and came home at 6:30 every night (many nights much later while my kids were growing up and missing their dad.) The commute alone is 5 hours a day. He rarely took time off you know, as he was faithful to the company. Many a winter morning, he boarded a train in the dark of night, in sub freezing temps for all those years. He faithfully saved his money those years in Merrill’s 401K and stock program. They took away the pension plan and offered the 401K to us as a substitute for a pension. A process that occurred at virtually every company all over America.We did without at times so we could save for our retirement and put more in the 401K. My husband would never borrow so much as a dime from the account for any reason. He often said thru those years: “someday you
    will thank me”. How I hated those words thru the years…

    Well, that day is just around the corner. I am 55 and he is 57years old. I have worked since age 18 as an x-ray tech for over 37 years!!!!! We
    raised 2 boys thru those years and I have dreamed about my retirement and embraced the coming day all those years. We both worked so very hard all those years to keep a roof over our heads and food on the table. I grew up in a project in the south Bronx and I have never forgotten my roots in poverty. We earned every nickel and dime and penny we ever had and never asked for a hand out of any kind. We did no wrong to anyone and thru the years, tried to help others in need. Little did we know we were on a train headed for a cliff!!!!! Thru the years we went about our business and our life unawares that our trusted lawmakers were setting the stage for this wreck by de-regulating wall street all thru the years. The average person neither understanding nor knowing that the bills being proposed and passed were putting screws in our coffins!! All these laws were implemented in the first place as a result of the great depression. and lo and behold, our trusted leaders slowly removed those protections. I am bewildered as to how this could happen. The very people who knew best did this to every trusting, unsuspecting American. We were raped and pillaged by the very
    people we elected and worked for and the lawmakers and CEO’s of these failed companies have run off with their share of the booty leaving me with nothing and looking forward to an old age of eating cat food, a much reduced standard of living and a very questionable future. The talk is social security will fail as well. Our foreign enemies can put up their feet and lay their head back and relax and watch us bring ourselves down thru sheer and utter greed. I was even more sickened (if that is possible) to learn that all the high oil prices came from speculation on wall street. While Bush and homeland security and the govt in general kept us looking at the skies in fear of more planes, these people scurried like thieves in the night to steal our money. All the while, the enemy was within.

    Watching the behavior of some of the leaders attempting to put their fingers in the dykes in the past few months is even more discouraging. Watching the hearings to release money for specific use and purpose be approved by congress and then watching Hank Paulson (By the way who does he answer to) decide on his own to do otherwise the very next day, was an arrogant misuse of his power. We did not learn from Katrina that something was amiss in govt, nor from Enron, nor the fact that people were encouraged to buy homes the banks knew they could not afford to stay in. Now onto Madoff, the banks keeping secret what they did with TARP money etc etc etc., I fear for our future Mr. president.

    The entire country, the world, looks to you for our hope. You will be in my prayers every single day you are president. My prayer is that you will do right, you will remain committed to do good and that you will allow God to guide you and protect you. You have done so much right in just your first couple of days in office.

    Mr. President, if there is any way that people like my husband and myself, can hold onto our stocks for a better day and not lose everything, please, please try to do so. After all, we worked hard for it, it is ours, we did no wrong. If the govt, Wall Street and these CEO’s got us into this, the govt must remain committed to helping us retain what is rightfully ours. Surely someone out there is smart enough to figure out how to let us keep what is ours!!! I personally think that everyone of these people who contributed to this crisis should return all of THEIR money to the treasury and suddenly, our national debt will look pretty good!!!! If they got to keep their assets and money, I should get to keep mine!!!!

    Mr. President- I believe I know why our economy and the stock market cannot recover. One word: CONFIDENCE !!!!! The American people as well as the rest of the world have a hard time believing in the integrity of this govt after watching us repeat our mistakes (the great depression), our leaders rule and govern with unbridled greed, failure of the govt to properly handle this crisis, failure of the government’s appropriate watchdog agency’s to not have seen what was going on. Everyone is wondering how the Madoff’s of this country got away with what they did!!!! My God, Mr. President, has everyone fallen asleep at the wheel? How did we get to the point where we have to sell our roads to foreign countries?

    One further thought: has anyone given any thought to the next crisis that will be created if all the savings and retirement of the coming retirees is wiped out? Does the scenario of seniors living out the rest of their days on beaches and living in tents seem so far fetched? Because that will be my plan for the future if my retirement is taken away from my. Please do not add to the very gross injustice done to people like me and my husband by wiping out my savings. Granted, it isn’t worth very much right now, but at least I will have the hope of better days if I can retain my shares.

    I am but one humble voice in a sea of many. I hope my words will be considered.

    Sincerely yours,

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