The Congress has just passed the $787 billion American Recovery and Reinvestment Act.  This is the largest single spending bill in our nation’s history.  The goal of the bill is to invest in key areas that will save or create jobs immediately, while also laying the groundwork for long-term economic growth.

The government has launched a website Recovery.gov that lets you — the taxpayer – see where your money is going.  The site provides this chart that summarizes the financial distribution:

The Congressional Budget Office estimates that this bill will increase federal budget deficits by $185 billion over the remaining months of fiscal year 2009, by $399 billion in 2010, by $134 billion in 2011, and by $787 billion over the 2009-2019 period (combining both spending and revenue effects). 

So we have found another image that may better help you see where your money is going:

This entry was posted on Wednesday, February 18th, 2009 at 11:09 am and is filed under Finance, Spending. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.