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...helping matters is a report from the Congressional Budget Office (CBO) that came out Tuesday, which shows that only 38% of the $350 billion in appropriated funds - which includes $274 billion for infrastructure investments - would make their way into the economy within two years of enactment. While some Democrats defended the study, saying it did not look at large parts of the bill, it was still a topic of some contention at the caucus' weekly lunch meeting on Wednesday. "If [the CBO report] is right, it is a cause for concern," said Senator Ben Nelson, a Nebraska Democrat, after...

Author: /time Magazine | Title: Economic Stimulus Plan Hits Bipartisan Obstacles | 1/22/2009 | See Source »

...Senate Budget Committee chairman Kent Conrad said Wednesday the Senate version should take the CBO report into account and focus more on job creation. "One thing I think we have to look at is a redirection of some of this money," he told reporters tersely after the caucus meeting, "to things that will have more of an immediate effect." The Senate Appropriations Committee postponed its markup of the Senate version until next week after negotiators said they wanted to revisit some provisions...

Author: /time Magazine | Title: Economic Stimulus Plan Hits Bipartisan Obstacles | 1/22/2009 | See Source »

...July, Congress allocated $300 billion for a new plan, Hope for Homeowners, to help borrowers stay in their houses. It went into effect this month, but analysts warn that it won't stop the rise in foreclosures. An April report from the Congressional Budget Office (CBO) estimated that banks would refinance only about 400,000 home loans, possibly fewer. And in recent congressional testimony, officials from JPMorgan Chase said only about $2.5 billion of its home loans (some 14,000 borrowers) of the $845 billion in home loans it services would qualify for the program. Worse, warns the CBO, nearly...

Author: /time Magazine | Title: Homeowners Ask: Hey, Washington, a Little Help? | 10/16/2008 | See Source »

This balancing act keeps the plan from being an outright bailout for either lenders or borrowers. But it also limits the likely uptake. The Congressional Budget Office (CBO) has made two estimates--one projects that 500,000 loans would be converted over the three-year life of the program, and the other projects 400,000. If that range proves correct, the plan wouldn't cost taxpayers much; the CBO estimates $729 million to $1.7 billion, depending on the uptake. By contrast, the Defense Department spends about $2 billion a week in Iraq...

Author: /time Magazine | Title: The Not-Quite Bailout | 7/10/2008 | See Source »

...doesn't make military or economic sense to launch the draft, what about the notion of fairness? Critics have claimed that minorities are over-represented in the all-volunteer military because they have fewer options in the civilian world. The CBO disputes that, saying that "members of the armed forces are racially and ethnically diverse." African Americans accounted for 13% of active-duty recruits in 2005, just under their 14% share of 17-to-49-year-olds in the overall U.S. population. And minorities are not being used as cannon fodder. "Data on fatalities indicate that minorities are not being...

Author: /time Magazine | Title: Restoring the Draft: No Panacea | 7/21/2007 | See Source »

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