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November 21, 2008 5:21:26 AM CST

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government spending news stories

7 Stories

ANALYSIS

 US Infrastructure 
 Is a 'Bridge to 
 Almost Nowhere' 

Infrastructure spending is critical, but not on bridges to nowhere

New York Times New York Times Nov 19, 08 10:02 AM CST
(Newser) - Recently the House passed an $18 billion infrastructure bill, and Barack Obama has indicated that he'll ask for billions more in spending to create jobs while improving the nation's roads and bridges. But as New York Times columnist David Leonhardt writes, insufficient investment is only part of the problem. At the moment federal projects aren't linked to any goals, such as reducing congestion or pollution; instead we're building "Bridges to (Almost) Nowhere." More »

China Unveils Massive $586B Stimulus Bill

Beijing focuses on boosting infrastructure, social welfare

Associated Press Associated Press Nov 9, 08 10:56 AM CST
(AP) - China announced a $586 billion stimulus package today in its biggest move to stop the global financial crisis from hitting the world's fourth-largest economy. A statement on the government's website said China's Cabinet had approved a plan to invest the money in infrastructure and social welfare by the end of 2010. More »

More about:  China • Financial Crisis • interest rate cut • economic stimulus • economic slowdown • Chinese economy • government spending

 GM-Chrysler Inch Closer to Deal 

Merger would create world's largest automaker

Reuters Reuters Oct 29, 08 1:57 PM CDT
(Newser) - General Motors and Chrysler have ironed out the major issues in their proposed merger, bringing the troubled giants a step closer to becoming the world's largest automaker. The deal's final form will depend on financing and government support—of which GM is requesting $10 billion—but both companies agree GM chief  Rick Wagoner will run the hybrid, Reuters reports. More »

More about:  General Motors • Chrysler • merger • Cerberus Capital Management • US automakers • Rick Wagoner • government spending

OPINION

Enough about the Deficit: It's Time to Spend

The Fed can't help much, but the government can

New York Times New York Times Oct 17, 08 10:32 AM CDT
(Newser) - Volatile markets rule the headlines, but the imperiled nonfinancial economy is more worrisome, Paul Krugman writes in the New York Times . The way to get that rolling again, contrary to what John McCain said in Wednesday’s presidential debate, is to ignore the deficit and increase government spending. As retail sales plunge alongside industrial production, “all signs point to an economic slump that will be nasty, brutish—and long.” More »

More about:  Financial Crisis • unemployment • budget deficit • housing bubble • unemployment benefits • government spending • Paul Krugman

$16K on Flowers Accents Pelosi's Spending Spree

New speaker's $3M
outlay doubles her
GOP predecessor's

The Hill The Hill Dec 12, 07 1:00 PM CST
(Newser) - Nancy Pelosi spent 63% more in her first nine months as House speaker than Dennis Hastert did over the same period last year—including $16,000 on flowers, the Hill reports. Republicans said the $3 million figure gave the lie to Democrats’ promises of fiscal responsibility; Pelosi aides say the costs of the transfer to a new speaker are behind the uptick. More »

More about:  Nicolas Sarkozy • Nancy Pelosi • Tom DeLay • government spending • flowers • speaker of the House • Dennis Hastert

A Buck on Lobbying Rakes in $28

Critics say that spending 'earmarks' only 'about politics'

BusinessWeek BusinessWeek Sep 11, 07 6:55 PM CDT
(Newser) - Mystery solved: companies rake in about $28 for every dollar spent lobbying Capitol Hill, BusinessWeek reports. According to the numbers, it's military contractors that get the most spending "earmarks" slipped into bills by lawmakers. But recent scandals over the system have prompted Bush and Pelosi to call for cuts in the Hill’s pork process – a slash that analysts say is only temporary.  More »

More about:  Boeing • lobbyists • legislation • earmarks • government spending

States Discover, Spend Surpluses

Embarrassment of riches will benefit education, gay rights, or just make tax cuts

New York Times New York Times Jun 11, 07 11:15 AM CDT
(Newser) - Oversized tax collection has left state governments with unexpected funds to dole out, and newly Democratic governments are working some big-government swagger. The Times reports that more than 40 states have deeper coffers than budgeted, and new money is going to local initiatives in education, health care and gay rights—and back to taxpayers. More »

More about:  Democrats • education • gay rights • taxes • state governments • government spending • state sales tax

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