Exactly what gets cut remains to be seen, though the way this game works, every time somebody brings up a program they care about, they are assured, no no we aren't cutting that.
It's true the S&L govs are headed for a crash without extension of extra aid.
-----Original Message----- From: lbo-talk-bounces at lbo-talk.org [mailto:lbo-talk-bounces at lbo-talk.org] On Behalf Of Chris Maisano Sent: Tuesday, January 26, 2010 12:07 PM To: lbo-talk at lbo-talk.org Subject: [lbo-talk] the retrenchment begins
Does anyone know whether or not this freeze would apply to federal aid to state and local governments, which is scheduled to finish at the end of 2010 under the stimulus package? I can't seem to figure out whether or not this is the case from the few reports I've seen. If the feds don't extend that aid into the next year, the results would be absolutely disastrous. I've seen reports that estimate an additional loss of close to 1 million jobs and a full percentage point of GDP if aid to the states is not extended into 2011: http://www.cbpp.org/cms/index.cfm?fa=view&id=2988
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