The Stimulus and Housing Plans, What Do They Mean for You and Your Family?

[Barack_America]

These plans are huge and somewhat abstract, but are clearly going to have huge implications in the lives of real Americans.

So I was interested in learning how they might help (or hurt, I guess) people at DU.


I'll start.

1. NIH funding. My fiance and I are both employed in the biological sciences by NIH dollars. NIH funding was horrible under Bush, so you basically never knew whether there would be grant money to pay your salary next year. The stimulus included $10 billion in additional NIH funding (original budget of only $30 billion, annually). This increase will go towards new grants for Professors (of which American citizens have an advantage) and will help employ countless numbers of people in their labs (us included).

2. First-time home buyer credit. We are renters and have been hoping to buy because we're at the point where a mortgage payment would be less than what we're paying in rent. We've got good credit and enough money for a good down-payment, but have always been worried about the unexpected costs of buying a home (i.e. unforeseen home improvements). This refundable $8,000 first-time home buyer credit would help mitigate those costs and is making us seriously consider making the leap.

3. Extended unemployment benefits. My mother has been out of work in Florida for several months (laid-off from the health care field, if that tells you how bad the economy is down there). Her unemployment benefits are running out and she hasn't been able to find a job due to the influx of retirees returning to the work force in order to make ends meet. We've been scrambling to move her up by us, but Florida is her home. These extended benefits will allow her to stay in FL a bit longer, where a Census job will hopefully pan out.

4. Medical records funding. My unemployed mother is a medical records specialist. The funding for streamlining medical records will (hopefully) mean a good job for her.

5. Middle class tax cuts. We qualify. And could we use the $800 I think we expect to get back? Oh yeah.

That's all that I can think of now that is certain, although there are health care provisions, social security benefit tax provisions, etc. that I feel pretty confidant will probably help many family members. Needless to say, the passage of the Stimulus and Housing bills has already lifted a huge burden off my shoulders. And just the confidence that relief is on the way makes a huge difference. I find that I'm allowing myself to look at clothes I might like again, things that we might need for the apartment, contemplating having a wedding our family members could attend, rather than heading to the courthouse, etc.

Anyone else feeling a similar sense of relief?

[ayeshahaqqiqa]

1. 4 & 5 would effect me

I work in a clinic and am the one who files insurance and helps keep records. This new ruling will insure I have a job. I think I would qualify for the tax cut, but I'm not sure about my husband. He is disabled and is on SSD.

[FrenchieCat]

2. Rail line SF to LA is awesome for me,

[Barack_America]

3. Is that adorable Harvard girl of yours using any Pell grants?

They're in the stimulus too!

;)

[FrenchieCat]

5. Well, she's graduating in June, so she's already been awarded what she can get.....

She will still owe on Perkins Loans though....and a Private student loan.

Guess her pay back will all be deferred though, since she was just accepted to into a combined Masters+PHD 6 year program over at Washington University at St. Louis that starts in September. Fortunately, they will be paying for her tuition there, while giving her a stispend of $20,000 per year while she does work for them.

[Barack_America]

6. That's fantastic!

My congratulations to her! I am in a similar program (combined MD/PhD). It's a long haul, but worth it in the end.

You must be so proud!

[FrenchieCat]

10. Yes, I'm very proud,,,as is obvious by my new sig! LOL!

[elocs]

4. I'm not sure how it would help me yet.

I am unemployed, but never had unemployment to extend and since I am not working I am not getting a tax cut. I hope I don't find one of those cracks to fall in.

[vaberella]

7. I'm going to have to reread the plan passed. So far nothing helps me.

I'm more in healthcare need but I can't afford any healthcare even if it's cheaper. However if there's more funding in medicaid (since it helps me along while I'm in school) then yes, I'm getting some help.

[BluePatriot21]

8. I'm still clinging to HOPE...

I was laid off the end of January from NY State. I've been slinging the resumes but haven't had a whisper of a response, which has me worried. NY state unemployment will give me $360 weekly after taxes. My mortgage with Citibank/Citimortgage is @$2500 with all the taxes and insurance, and we looked at all expenses at over $4000+ with food, heat, water, insurance etc. Needless to say I called them to warn them that I might be a bit short on the mortgage in March, so I am hoping to make arrangements so I don't lose our home. Where would I fall in line with these programs from the stimulus or upcoming mortgage relief program Obama discussed??
I'm pretty certain I will not get a job making the same amount of money I once did and the market right now in NJ/NY seems packed with layoffs of all kinds, so I can tell future earnings will be lower. Recruiters have told me there is lots of people out looking and few companies hiring for that position, I'm seeing lots of jobs that I would have jumped at when I was 16, but at close to 40 with 2 young kids and a mortgage, Hooters bartender @ $9/hour just isn't that appealing anymore (the wife would KILL me). I've looked into public assistance and any option that will help as NJ seems to have some great programs available (food stamps, mortgage help, energy assistance etc)
It's getting to me, so I could use any advice if you have some to spare.
Peace!

[Barack_America]

9. As long as...

You don't own more than 105% of the current value of your home, you should be eligible for refinancing, considering Citibank has (and will likely to continue) taking bailout monies.

http://www.whitehouse.gov/blog/09/02/18/Help-for-homeowners/

Good luck! :hug: