Obama's Stimulus Package

President-elect Obama has unveiled his almost $800 billion federal economic stimulus proposal.  While the devil is always in the details, I'll take this as a positive sign:

Obama's proposal to stimulate the economy includes tax cuts of up to $300 billion — including $500 for most individuals and $1,000 for couples if one spouse is employed — as well as more than $100 billion for businesses, an Obama transition official said. The total value of the tax cuts would be significantly higher than had been signaled earlier. 

Of course, a big caveat for me will be whether the tax cuts are extended to individuals not paying income taxes. That wouldn't be a tax cut, but would instead be a "spread the wealth" income tax redistribution program.  Still, I'm pleased to hear that tax cuts will be a significant portion of the stimulus plan.

I also like this:

At his meeting with bipartisan leaders of Congress, Obama said he would make his stimulus proposal available on the Internet, with a Google-like search function to show each proposed project or program, by congressional district, according to three people who attended.

Nothing like a little disclosure.

Republican leaders are right to gripe about the overall price tag affixed to the package, but it must be remembered that the Democrats prevailed at the polls and the GOP doesn't have the right to expect the Dems to pursue an agenda whose cornerstone is limited government.  We GOPers will have to fight for and win those policies at the ballot box.

The politics of the moment make a federal stimulus package inevitable.  Tax cuts to businesses and individuals make it a little more palatable to swallow.  Let's just hope that there's not too much heartburn with the rest of the package, particularly if the House and Senate Democrats work to sweeten it.