Porkulous or Stimulous (or a little of both)?

As everyone is no doubt aware, Congress announced an agreement on the nearly $800 billion spending bill that is intended to try to kick-start the economy. There has been much debate about this bill, specifically around whether it is true stimulous or is porked up good with lots of pet projects. I think it's fair to say that there is a lot of both in the bill - after all, it is $800 billion!!! Just to put this into context, that's approximately $2,700 per US resident or about $7,200 per family! WOW. Or, put another way, that's enough money to buy the following companies at current market caps:

IBM - $127B,
Microsoft - $171B,
General Electric - $122B,
WalMart - $189B,
McDonalds - $63B,
Wells Fargo - $71B, AND
Intel - $78B.

That's a lot of coin! So, the bigger question is "Will it help?" Unfortunately, this answer is about as clear the TARP 2 as outlined earlier this week by our new Treasury secretary.

Well, just for fun, I thought I would include a snippet from a recent FoxNews.com article that outlined some of the items in the report. I'm not so sure this is all "stimulous" but I will let you be the judge. Of course, there are some good things in this bill including allowing small business to deduct capital expenditures more quickly, tax credits for purchasing cars and houses, spending on roads, bridges and other infrastructure, and other truly stimulative things. But, it's laughable to say that $100 million for the Lead-Based Paint Hazard Control Grant Program is meant to stimulate anything (except for the lobbiest that won this concession).

- a provision to provide up to $198 million in pensions for Filipinos who fought alongside the U.S. during WWII. U.S. citizens would get $15,000 a year, but even non-citizens would still get $9,000 a year

- NASA is set to receive $450 million for "Science" and another $200 million for "Aeronautics"

- More than $28 billion is being provided to put kids in special education, Head Start and child care and development programs for disadvantaged children.

- $100 million for the Lead-Based Paint Hazard Control Grant Program

- $200 million to the Leaking Underground Storage Tank Trust Fund Program
- $300 million for "Violence Against Women Prevention and Prosecution Programs"
- $900 million for the IRS for the "Limitation on Administrative Expenses"
- $1 million for the Railroad Retirement Board for administrative costs
- $2 billion for the Drinking Water State Revolving Act
- $50 million for Health and Human Services to carry out injury prevention programs
- $1.1 billion for studies on the effectiveness of different medical treatments
- $200 million to upgrade labs and facilities for the Department of Agriculture "to improve workplace safety and mission-area efficiencies"
- $10 million for urban canal inspection
- $16 billion to pay for student financial aid
- $1 billion to pay for the U.S. Census
- $600 million to pay for a fuel-efficient federal auto fleet
- $650 million for the Digital Converter Box Program to help the constantly delayed transition from analog television
- $485 million to the Forest Service for "hazardous fuels reduction and hazard mitigation activities in areas at high risk of catastrophic wildfire"
- Up to $1 billion for "summer activities" for youths as old as 24
- $40 million for the occupational research agenda
- $3 billion for the Centers for Disease Control wellness programs and vaccinations
- $410 million for Indian health facilities
- $2.4 billion for carbon-capture demonstrations

So, what do you think - is that true stimulous? You may like Obama or not and you make like this bill or not. BUT, at least you should know what's in it. After all, YOU are going to have to pay for it...eventually!