Obama Wants $50 Billion For Teachers, Cops and Firefighters
With a relative drop in the bailout bucket, the president thinks he can save 300,000 teachers who would otherwise be kept by economic calamity from annoying America's children. The money would go to state and local governments struggling to make ends meet.
With a relative drop in the bailout bucket, the president thinks he can save 300,000 teachers who would otherwise be kept by economic calamity from annoying America’s children. The money would go to state and local governments struggling to make ends meet.
TRUTHDIG’S JOURNALISM REMAINS CLEARChristian Science Monitor:
Mr. Obama has intimated in the past that the federal government’s job of propping up the economy was not yet done. Last week, he sent a letter to Congress supporting efforts to pass two separate measures totaling as much as $50 billion in aid for states and cities.
With states still facing large budget shortfalls, Obama wants to minimize the potential loss of teachers, law-enforcement officers, and firefighters. He estimates that as many as 300,000 teachers could be laid off. In this way, the money would largely pick up with the $787 billion federal stimulus bill left off.
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Lessons learned from the 2008 financial crisis show that taxpayer-funded blank checks to institutions do nothing to help those struggling
If the president wants the federal government to be able to borrow cheaply, there are far better options than negative interest rates.
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