- House Adopts Stimulus Bill, H.R. 1

House Adopts Stimulus Bill, H.R. 1

Written by Wayne Olson

Monday, 23 February 2009 08:57

Freedom Index 2009

H.R. 1: American Recovery and Reinvestment Act of 2009

02-13-2009 House Vote 70 (Conference Report)

Economic Stimulus. H.R. 1 provides economic stimulus over an 11 year period at a cost of $787 billion (not counting interest). The ceiling on federal borrowing was raised accordingly by $789 billion, because the money must either be borrowed or created out of thin air by the Federal Reserve. $144 billion is provided for State and Local Fiscal Relief, $111 billion for Infrastructure and Science, $81 billion for Protecting the Vulnerable, $59 billion for Health Care, $53 billion for Education, and $43 billion for Energy projects – a host of unconstitutional spending. State and local deficits will temporarily be alleviated while exploding the federal deficit, which is a zero-sum game. A moral hazard is created for state governments to continue otherwise unsustainable spending.

Through FY2019 the bill provides $212 billion in revenue reducing tax cuts along with $575 billion in spending increases in both mandatory and discretionary programs. This is the largest spending bill in U.S. history, but since it is an emergency measure it circumvents Pay-As-You-Go principles. The House adopted the Stimulus Plan 246-183 on February 13, 2009 (Roll Call #70), thus sending it to the Senate.

The John Birch Society opposed this bill.

Final result: Adopted