Economic Recovery Package Offers Fiscal Help to Oregon

(SILVERTON, Ore.) - The approval of a $789 billion economic recovery package promises to create and preserve Oregon jobs, demonstrating the critical role that government can play in the economy.

The legislation comes at an opportune time. It will help Oregon and nearly all states in the nation confront revenue shortfalls caused by the deepening recession. We applaud Representatives Blumenauer, Schrader and Wu and Senators Wyden and Merkley for supporting the measure.

The legislation means significant federal investment in Oregon's health care, education, law enforcement and transportation infrastructure and provides additional resources for Oregon's social safety net. These approaches are widely known to provide economic stimulus with a good "bang for the buck," according to leading economists.

A sizeable portion of the package (about $116 billion or 15 percent) will go to a new Making Work Pay credit. The credit will benefit all but the wealthiest working Oregon households.

According to a memo released today by the White House, the recovery package will create or save an estimated 44,000 jobs in Oregon. The memo breaks these jobs down by congressional district: 9,300 jobs in Representative David Wu's district, 8,500 in Representative Greg Walden's district, 8,700 in Representative Earl Blumenauer's district, 8,400 in Representative Peter DeFazio's district and 8,700 in Representative Kurt Schrader's district.

Not all provisions of the bill are likely to provide effective stimulus. For instance, inclusion of a one-year "patch" for the Alternative Minimum Tax will generate relatively little economic activity, despite its $70 billion price tag. Likewise, prospects of the "bonus depreciation" business tax break for generating new economic activity in Oregon are quite poor.

While there were some missed opportunities, the overall package is likely to lessen the severity of the recession and may help jumpstart Oregon's economy.

The Oregon Center for Public Policy is a non-partisan research institute that does in-depth research and analysis on budget, tax and economic issues. The Center's goal is to improve decision making and generate more opportunities for all Oregonians.

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Jim February 17, 2009 11:15 am (Pacific time)

As far as offering something different that the current spending bill, I believe the non-partisan Congressional Budget Office said "Doing nothing would be better." The majority of Americans, as per the highly accurate pollster Rasmussen, do not want this pork-larded bill. Since this bill was so important and needed to be passed so quickly last Friday, how come it's taken 4 days to get signed? In addition I firmly believe that we voters expect our elected leaders to be familiar with all the bills they vote on, that sounds reasonable don't you think? So how come no one read that over 1100 page bill before they voted on it as reported by several media outlets? So voting "no" on a bill they have not had a chance to review is called being responsible in my opinion. Has anyone taken the time to compare our economic situation in 1982 and currently? Well it was far worse in 1982 and we simply got stronger by growing out of it with tax cuts plus creating well over 12 million jobs in short order. No claim that we "saved jobs", which you will be hearing in the future, but newly created jobs. That is the historical record, not opinion. Government intervention on this level we will soon be experiencing, will probably retard our economic growth substantially in my opinion, as well as the opinions of several Nobel Economic winners, whose names have been posted earlier.

Henry Ruark February 17, 2009 10:54 am (Pacific time)

Chris, Steppen et al: Dunno why you do not run for Congress since you feel so confident in detailing precisely what they shoul do in both houses. IF you so hot and detailed with solutions, why not give your friends, if any, neighbors (unavoidable !) and others who KNOW YOU a clear shot to make their own solid preferences known ? That's Constitutional path for dissenters like you, and is test most-such always and forever avoid...for very obvious reasons. Which is why Obama won such a huge powerful mandate, now shown by rapid progress in his policies (four weeks to pgragmatic action.)

Henry Ruark February 16, 2009 9:00 am (Pacific time)

To al: Single simple question: What ELSE do you offer as detailed plan for stimulus and recovery ?

Henry Ruark February 16, 2009 9:03 am (Pacific time)

To al: Single simple question: What ELSE do you offer as detailed plan for stimulus and recovery ? "moreofthesame" from 4 decades of similar neocon inanities and "trickle down" which never trickles except into corporate coffers here and abroad ? "Supply-side" policy and "monetarism" manipulation of U.S. dollar creating waves and hollows ever since ? "Laffer Curve" created on napkin, perhaps upside-down ? SO spell out your remedial action, priced out with full guaratee of unfailing performance, right here in writing. Then you have perfect chance to sell same to all involved, including Congress. Words without deeds empty, indeed; where's YOUR deeds ? Past economy surely NOT one you wish to discuss in detail here, since it demonstrates precisely what you rail against in terms 95% of all Ameericans now recognize for impacts on own lives and kids.

stephen February 15, 2009 7:42 pm (Pacific time)

Why do they have legislation in a STIMULUS package for gun control, federalized and rationalized health control? This was a STIMULUS package for the ECONOMY!!! Why did obama force the senate to vote before having time to read the 1100 pages of legislation? Then go on a 3 day vacation before signing it? The senate could have spent time reading the bill over the weekend, vote on it Tuesday, then obama could have signed tuesday afternoon. This looks just like the Sept 2008 crud. The senate does not know about the legislation. this is frigin crazy. Chris..go to infowars.com (I know you already know), but alex had a great second hour on his radio show. 9pm, 11pm, etc, every two hours. In fact, his guest reminded me of Tim King. An ex-marine, who is now a journalist. I hope Tim can get a chance to listen also. There is no doubt in my mind that foreign banks are taking over the U.S. and it is happening soon. Martial law, gun confiscation, civil war. All I have from being scared to death is Christ in my life. Understand Chris?

stephen February 15, 2009 7:24 pm (Pacific time)

Why do they have legislation in a STIMULUS package for gun control, federalized and rationalized health control? Why did obama force the senate to vote before having time to read the 1100 pages of legislation? Then go on a 3 day vacation before signing it? The senate could have spent time reading the bill over the weekend, vote on it Tuesday, then obama could have signed tuesday afternoon. This looks just like the Sept 2008 crud. The senate does not know about the legislation. this is frigin crazy. Chris..go to infowars.com (I know you already know), but alex had a great second hour on his radio show. 9pm, 11pm, etc, every two hours. In fact, his guest reminded me of Tim King. An ex-marine, who is now a journalist. I hope Tim can get a chance to listen also. There is no doubt in my mind that foreign banks are taking over the U.S. and it is happening soon. Martial law, gun confiscation, civil war. All I have from being scared to death is Christ in my life.

ChrisJones February 15, 2009 11:41 am (Pacific time)

As long as we keep suckling off of the federal trough they are going to ram tyranny like this down our throats. I HIGHLY RECOMMEND reading this---HR 45 May be More Troubling Than the Average Anti-gun Bill---by Mike Hammond Those of you who regularly peruse the GOA website know that there are dozens of anti-gun abominations which are introduced as legislation in the Senate and House each Congress. These include, particularly, national gun licensing and broad gun bans. GOA provides a summary of these bills for the benefit of our members and friends. But we do not focus on most of these bills because they are so extreme that they have no chance of passage. They are cynically introduced so that the Brady Campaign can raise money by threatening anti-gun measures it could never pass. But the first anti-gun bill of the 111th Congress -– Chicago Congressman Bobby Rush’s H.R. 45 –- has caught the attention of many in the Second Amendment community as something we need to be worried about.--cont'd @ http://gunowners.org/hr45ana.htm----This is the TOTAL DESTRUCTION of the SECOND AMENDMENT in case you didn't notice.

stephen February 15, 2009 10:25 am (Pacific time)

Seems as tho, ever since I turned my tv off many years ago, I started getting more creative. Just came up with this..lemme share :-) 44,000 jobs at $10 an hour = $440,000. $440,000 x 8 hours = $3,520,000. $3,520,000 x 20 work days a month = $70,000,4000. 2 months = $140,000,800 This above number is at a low wage, no benefits, no materials for construction, no top heavy admin (which we know will happen), etc. Interesting when you get out a calculator huh? The money (350 million) will be gone in less than two months. I wonder what would happen if I got out a calculator for the federal bailout? My calculator would probably self-destruct. Whats worse tho, is we dont even really know what is in those 1100 pages, neither did the senate when they voted on it. Kinda shameful it seems to me. Much trust, to a system that has deceived. Well, since the democrats passed the bailout, it seems the dems must take responsibility. But, the obama worshipers will figure out something else to blame it on Im sure. And the wheel goes round. while the dems and the repubs, keep arguing, the guys behind the curtain are robbing us blind to bring in a cashless society, world government and total control of our lives. Better start looking behind the curtain my friends. They are powerful, and not very nice people.

Anonymous February 14, 2009 10:37 am (Pacific time)

How does one measure "saved jobs?" Let's say I postulate that after no jobs have been created by the so-called stimulus bill other than short term government make-work jobs I simply say that I believe I kept another 350,000 jobs from being lost in Oregon. How do I prove that? Hint: You can neither prove no disprove "saved jobs" to any accurate degree. I believe you will be hearing a lot more about saved jobs than created jobs in the private sector (that group that pays the bills by the way) for the forseeable future in my opinion. I could be wrong of course.

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Economic Recovery Package Offers Fiscal Help to Oregon

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