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Stimu-bits Archive

Suing for the sake of schools

Wednesday, April 22nd, 2009

Let’s hope Casey Edwards goes to law school. The high school senior is suing the state of South Carolina to accept $700 million in stimulus funds and spend the money on schools. Gov. Mark Sanford has said he won’t accept the money unless it goes toward eliminating the state’s debt. The South Carolina Supreme Court has not decided if it will rule on the case; the feds can’t force the state to take money it doesn’t want; and the state legislature has yet to devise a spending plan. Edwards likely will have graduated by the time the case is decided anyway.  But, with a few years of college, maybe she’ll be able to figure something out.

Smart grid, huh

Saturday, April 25th, 2009

National Grid wants in on the stimulus funds. No, the power company does not want to pay us back for last year’s rate hikes of 21.7 percent for electricity and 10 percent for natural gas. But, on the bright side, the money would not go to National Grid CEO Steven Holliday; he already got a 60 percent raise last year. National Grid wants the money for a “smart grid” program to give customers more information about energy use so that we can figure out, on our own, how to save a dime.

Maybe Illinois should spend stimulus $ on prisons

Saturday, April 25th, 2009

Illinois is getting more stimulus money for transportation projects than any other state in the country. Why Illinois should be trusted with any federal dollars, I can’t say. Taxpayers have footed the bill for three governors’ early retirements to federal prison — and that gubernatorial legacy could reach four with the newly indicted Rod Blagojevich. Don’t get me wrong, yours truly is proud to call Illinois home. But, this is the state that favors the likes of Richard M. Daley, the Chicago mayor who ordered an airstrip bulldozed in the middle of the night to ensure that the tiny airport would be closed. Maybe the stimulus money can fund more prison space for Illinois politicians.

Not too proud to beg?

Saturday, April 25th, 2009

The banks have had their turn – what about the rest of us? For your own personal bailout, try bailafamilyout.com. Join the website and design your own page. Load it with pictures of your adorable kids and adorable pets and whatever else you think might tug at the heartstrings of potential benefactors. Then, wait for the cash to start rolling in. Of course, even a bailout isn’t free — there’s a $15 sign-up fee.

No pushover for parks and pedalers

Saturday, April 25th, 2009

California Congressman Kevin McCarthy, the House Republicans’ chief deputy whip, feels bitter, and that’s OK. We’re all a little bitter at this point. But, does he have to take it out on Rhode Island? In his reply to President Obama’s weekly address, McCarthy voiced concern over the administration’s massive spending. Fair enough. But, then he went on to complain: “All this money, but why are we funding a skateboard park in Rhode Island and new bike racks in Washington, D.C.?” Did he have to make it personal?

C’mon, Stimulus!

Wednesday, April 29th, 2009

The House Transportation Committee reports that 1,288 jobs have been saved or created since the stimulus package was passed in February. Billions of dollars — and a meager 1,288 jobs? Not so impressive. The data used for the study was collected when only 30 states had begun projects funded by the bill, and any number of new jobs is better than none. Still, I haven’t gotten a job, and neither have many of my former co-workers. Come on stimulus! You can do it!

Sold in China: Stimulating Auto News

Wednesday, April 29th, 2009

Apparently, China’s auto stimulus is outdoing ours — the Chinese have bought more cars than Americans in the past three months. The country also has halved the tax on new cars, from 10 percent to 5 percent. Now, this may seem an impressive achievement for the Chinese; Newsweek business writers definitely think so. But China does have ONE BILLION more people than we do. I am no economist, not even close, but doesn’t population figure into the equation somehow?

Crybabies: Not enough money to manage so much money

Thursday, April 30th, 2009

Some states are facing a problem I wish I could confront. Apparently, budget directors across the country are concerned about the amount of money they’re getting to manage the stimulus money. South Dakota’s budget director is worried about the cost of managing the $770 million that state will receive as part of the stimulus package. Funds targeted for jobless residents do come with extra federal money to help manage programs, but as for the rest of the package, states just will have to make do with the hundreds of millions of dollars they are getting in the first place.

Every little giveaway could help pay the rent

Friday, May 1st, 2009

There’s nothing like using people’s financial despair to boost advertising. BrightHub.com was not going to let this opportunity pass. The website, which features expert articles on technology, education, health and science, has announced its Stimulus Package Giveaway.  Explaining that “we’re trying to do our part to help you put some money back into the economy,” the website is giving away 10 $200 Visa gift cards. That wouldn’t even pay my rent, and I think I have the cheapest apartment in Providence. To be eligible, you simply have to submit your name and email address — and give the website a hit. And, if you’re wondering, I did apply. As the site says, “every little bit helps.” I’ll let you know if I win.

Simon says: Put your hands on your face and frown

Saturday, May 2nd, 2009

Losing money hurts, whether you’re rich, poor or somewhere in the middle. I’ve never had the opportunity to loose $10 million, but I imagine if I had done so, I might curse, punch a wall, shed a few tears.  But there is only so much energy one can put into expressing one’s anguish. After yelling and kicking and banging heads into walls comes the hand on the face. Whether covering the eyes, placing a palm to the forehead, or planting one hand on each cheek, the hand-on-the-face gesture has become the norm for photographs of stockbrokers during this financial crisis. And, in case you’ve missed any of those portraits of anguish, they have been captured on a little website called, appropriately, The Brokers With Hands on Their Faces Blog. Check it out if you want  to see an exceptional level of misery.


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