How we Could have Spent $67bn this Week

This week, the Treasury is issuing a $67bn package of new three, 10, and 30-year securities. That’s new debt creation which we will have to pay down with taxes. It will finance various new programs at the Fed, FDIC and Treasury to attempt to improve investment and financial stability, with limited success thus far.

But let’s look at another form of government spending, direct spending, which would go directly into the economy. Here’s what this same amount would have bought in the Recovery Bill (that Republicans stripped from their final version).

Final Senate Mark-up Cut
($ thousands)

Watershed Rehabilitation (Construction)..................................-$55,000
Child Nutrition School Lunch Equipment..................................-$98,000
GP Crop Disaster...........................................................................-$50,000
Advanced Broadband Program..............................................-$2,000,000
Scientific and Technical Research and
Services (Research)...................................................................-$100,000
National Oceanic and Atmospheric Administration
Operations, Research, and Facilities......................................-$200,000
National Science Foundation
Research and Related Activities...............................................-$200,000
General Services Administration
Federal Buildings Fund...........................................................-$2,000,000
Green Federal Buildings.........................................................-$1,500,000
Purchase of Fuel Efficient Vehicles..........................................-$300,000
Department of Homeland Security
Transportation Security Administration
Aviation Security (Checkpoint/EDS)..........................................-$200,000
Coast Guard Acquisition, Construction, and
Improvements (Polar Icebreaker, Shore Facilities)...............-$122,500
Department of Agriculture
Forest Service Wildland Fire Management.............................-$165,000
Department of Labor
Children & Families Services Programs
(Head Start/Early Head Start).................................................-$1,050,000
Education for the Disadvantaged (Grants to LAEs)..............-$600,000
School Improvement Programs (K12 Construction).......-$16,000,000
Higher Education (Teacher Quality Enhancement).................-$50,000
State Fiscal Stabilization Fund.............................................-$40,000,000
Department Housing, Urban Development
Public and Indian Housing
Neighborhood Stabilization Program...................................-$2,250,000

Total..........................................................................................-$66,940,500

Views expressed on this page are those of the authors and not necessarily those of Campaign for America's Future or Institute for America's Future