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Economic recovery package before Congress"would provide massive fiscal stimulus."
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<blockquote data-quote="Jagger" data-source="post: 488809" data-attributes="member: 16628"><p><span style="font-family: 'Arial'"><span style="font-size: 10px">The legislation provides states with roughly $135 billion to $140 billion to help close operating budget shortfalls, most of it in the form of increased Medicaid funding and a “State Fiscal Stabilization Fund” aimed primarily at ongoing education costs. These funds will help the economy recover by averting cuts in state expenditures. The sooner the states use the money, the faster the economy is likely to improve.</span></span></p><p> <span style="font-family: 'Arial'"><span style="font-size: 10px"></span></span></p><p><span style="font-family: 'Arial'"><span style="font-size: 10px"></span></span></p><p><span style="font-family: 'Arial'"><span style="font-size: 10px">When states cut spending, they lay off employees, cancel contracts with vendors, eliminate or lower payments to businesses and nonprofit organizations that provide direct services, and cut benefit payments to individuals. In all of these circumstances, the companies and organizations that would have received government payments have less money to spend on salaries and supplies, and individuals who would have received salaries or benefits have less money for consumption. As a result, budget cuts directly remove demand from the economy.</span></span></p><p> <span style="font-family: 'Arial'"><span style="font-size: 10px"></span></span></p><p><span style="font-family: 'Arial'"><span style="font-size: 10px"></span></span></p><p><span style="font-family: 'Arial'"><span style="font-size: 10px">Moody’s Economy.com estimates that every dollar of federal fiscal relief that is used to avert state budget cuts increases economic activity by $1.38. </span></span></p><p> <span style="font-family: 'Arial'"><span style="font-size: 10px"></span></span></p><p><span style="font-family: 'Arial'"><span style="font-size: 10px"></span></span></p><p><span style="font-family: 'Arial'"><span style="font-size: 10px">A state that refuses the stimulus money, delays the use of the money by putting it into a reserve fund, or uses the stimulus money for purposes other than maintaining programs and services is weakening its economy. It also is undermining federal efforts to turn the economy around. </span></span></p><p><span style="font-family: 'Arial'"><span style="font-size: 10px"></span></span></p></blockquote><p></p>
[QUOTE="Jagger, post: 488809, member: 16628"] [FONT=Arial][SIZE=2]The legislation provides states with roughly $135 billion to $140 billion to help close operating budget shortfalls, most of it in the form of increased Medicaid funding and a “State Fiscal Stabilization Fund” aimed primarily at ongoing education costs. These funds will help the economy recover by averting cuts in state expenditures. The sooner the states use the money, the faster the economy is likely to improve.[/SIZE][/FONT] [FONT=Arial][SIZE=2] [/SIZE][/FONT] [FONT=Arial][SIZE=2]When states cut spending, they lay off employees, cancel contracts with vendors, eliminate or lower payments to businesses and nonprofit organizations that provide direct services, and cut benefit payments to individuals. In all of these circumstances, the companies and organizations that would have received government payments have less money to spend on salaries and supplies, and individuals who would have received salaries or benefits have less money for consumption. As a result, budget cuts directly remove demand from the economy.[/SIZE][/FONT] [FONT=Arial][SIZE=2] [/SIZE][/FONT] [FONT=Arial][SIZE=2]Moody’s Economy.com estimates that every dollar of federal fiscal relief that is used to avert state budget cuts increases economic activity by $1.38. [/SIZE][/FONT] [FONT=Arial][SIZE=2] [/SIZE][/FONT] [FONT=Arial][SIZE=2]A state that refuses the stimulus money, delays the use of the money by putting it into a reserve fund, or uses the stimulus money for purposes other than maintaining programs and services is weakening its economy. It also is undermining federal efforts to turn the economy around. [/SIZE][/FONT] [/QUOTE]
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Economic recovery package before Congress"would provide massive fiscal stimulus."
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