Related To Story |
Obama To Sign Stimulus In Denver
Ceremony To Be Held At Denver Museum
POSTED: 5:48 pm MST February 14,
2009
UPDATED: 6:57 pm MST February 14,
2009
DENVER -- President Barack Obama is coming to Colorado to sign the most important bill of his young presidency. Obama plans to sign the newly passed $787 billion economic stimulus bill in Denver on Tuesday. Details about the visit weren't immediately announced Saturday, but the visit was previously announced as part of Obama's tour to convince Americans that the stimulus plan will get the job done. His schedule listed a visit to Phoenix on Wednesday to talk about home foreclosures.
Last week, Obama hit four states in four days to talk up the plan. Obama and his family are spending the President's Day weekend in their hometown of Chicago. The visit to Denver Tuesday will be Obama's first as president, but he spent a great deal of time in Colorado as a candidate. Obama accepted the Democratic nomination for president at Invesco Field at Mile-High Stadium in August, and he gave a campaign speech to what would be his largest domestic crowd of the campaign in Denver in late October. At that speech, some 100,000 people spilled out of Civic Center Park to hear Obama's address. Obama last visited Colorado on Nov. 1, the Saturday before Election Day, where he spoke to a rally in Pueblo. Obama went on to become the first Democrat since 1992 to win in Colorado, handily taking the state's nine electoral votes against Republican John McCain. On Saturday Obama celebrated the newly passed $787 billion economic stimulus bill as a "major milestone on our road to recovery." The bill passed Friday. Speaking in his weekly radio and Internet address, Obama said, "I will sign this legislation into law shortly, and we'll begin making the immediate investments necessary to put people back to work doing the work America needs done." At the same time, he cautioned, "This historic step won't be the end of what we do to turn our economy around, but rather the beginning. The problems that led us into this crisis are deep and widespread, and our response must be equal to the task."
State To Get At Least $1.97 Billion Under Stimulus
All of the Democrats in Colorado's congressional delegation voted for the economic stimulus bill that won final approval Friday, and both state Republicans -- along with all of their colleagues -- voted against it. Colorado would get about $1.97 billion in funding for programs that are distributed by formula under the bill, according to a Senate Appropriations Committee estimate. That amount includes close to $404 million in highway funding, $103 million in transit funding and $15 million for homelessness prevention, according to the estimate. The transportation estimates are in line with what state officials had been expecting, and they've developed a list of $1.6 billion worth of projects to pick from in spending the money. There's also an estimated $611 million intended to help shore up the state budget. A final tally for the state wasn't immediately available. The $787 billion package passed the House by a 246-183 vote. Not one Republican voted for it. It later passed the Senate on a 60-38 vote, with only three Republicans voting for it. GOP Rep. Doug Lamborn said what Democrats delivered was a spending spree that the Congressional Budget Office estimates will weaken long-term economic growth in the U.S. "Unfortunately, congressional leaders scheduled a snap vote on a 1,434-page bill that no one had a chance to read in its entirety, much less digest and deliberate," Lamborn said. Republican Rep. Mike Coffman said he believes the stimulus bill is too weak to have a significant impact on the country's economy. "It will plunge our nation much deeper into debt, making it more difficult to fully recover," Coffman said. "And the massive borrowing will ultimately lead to high interest rates and high inflation." Democrats hailed the bill as good for jobs, though they didn't agree on how many would be created or saved. Democratic Rep. John Salazar said it would help produce or protect 70,000 jobs statewide, repair aging infrastructure, reduce taxes and invest in new energy and education. "There are some pundits and opposers of this bill who seem to think we have the luxury and time for petty partisan bickering right now. You need honest debate for good legislation, but for the millions of Americans living with the impact of this recession there is no time for political posturing or pandering. There is only time for action and representation," Salazar said. Democratic Rep. Ed Perlmutter said the package would create 60,000 Colorado jobs. Freshman Rep. Jared Polis said it addresses needs in health, education and the environment, particularly renewable energy. "It promotes a green work force, spurs green innovation, and invests heavily in our public lands," Polis said. Rep. Diana DeGette rolled out a list of Colorado beneficiaries: federal tax reductions for 1.8 million workers; increased unemployment benefits for 173,000 workers; upgrades at 99 schools; and increased reimbursements for hospitals providing care to the uninsured. "With the current recession expected to last a year or more, the increase in uncompensated care will quickly be unsustainable. Hospitals cannot continue to absorb these increasing costs and keep their doors open," DeGette said in a statement. Colorado's unemployment rate hit 6.1 percent in December, the highest in more than five years. State lawmakers have been trying to cut about $625 million from this year's budget to make up for an expected drop in tax revenue because of the recession. More cuts are expected for next year's budget. Democratic state Rep. Mark Ferrandino of Denver, a member of the legislature's budget committee, said the $611 million intended to help prevent cuts to the state budget will help, but it won't solve all the state's budget problems. He said the bill requires that most of that money be spent on kindergarten through 12th grade education, which makes up about half of the state's budget. And he said Colorado can't spend stimulus money on programs it may not be able to afford after the stimulus money is gone. One state constitutional amendment requires spending on education to increase each year, while another limits how much the overall budget can increase each year. "Given our restrictions, we have to jump through more hoops," Ferrandino said.Copyright 2009 by TheDenverChannel.com. The Associated Press contributed to this report. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
The following are comments from our users. Opinions expressed are neither created nor endorsed by TheDenverChannel.com. By posting your comments you agree to accept our Terms of Use. To report an offensive or otherwise inappropriate comment, click the "Flag" link that appears beneath that comment. Flagging a comment will send it to our editorial staff for review.









