Cash For Cash Program Meets Goal
Washington (PFM) – Treasury officials say the U.S. government’s popular “Cash for Cash” program has quickly exceeded all expectations and may soon be unnecessary.
The program has taken in a total of $1.3 billion which will go directly to the general fund. This increase to government coffers comes at a good time, as recent weak bond auctions have alighted fears of interest rates hikes.
The plan, which exchanges fresh cash for unused consumer cash, is just part of a multi-pronged strategy to get the economy moving. The rules for participating are complex but that has not dampened interest.
So far, over $1.4 billion has been distributed to participating citizens, with fully one half of that total going to the most economically stressed regions. Consumers, now flush with fresh cash, are expected to open their wallets and spend.
In addition, over 60,000 jobs have been created to administer the plan. About one fifth of those jobs will be necessary to handle the expected influx of tax activity.
Despite the success, some have expressed concerns over the $100 million difference between disbursements and revenues. But officials point out that this variance is much lower than other government programs.
Man Killed, Woman Hospitalized in Sexting Tragedy
Houston (PFM) – Police are investigating a sexting incident in northwest Houston, in which a man was killed and a woman was rushed to the hospital.
At 9:15pm, Houston police were called to a home on Ward Rd. near Woodfield. When they arrived, they found a man clutching his cell phone, who appeared to be in cardiac arrest. The 68 year old man later died at the scene.
An unclothed woman was found leaving the home through a window. She was in a state of panic, but did not otherwise appear to be injured.
The 22 year old woman initially declined treatment, but after being informed that the man’s phone would be held as evidence, she was rushed to Memorial Hermann Hospital for treatment of anxiety. She has remained clothed since that time.
At this point, police don’t know the circumstances surrounding the incident. But pictures have been circulated seeking leads from other officers throughout Houston and surrounding communities.
House Member Unapologetic For ‘Where the Chips?’ Remark
Washington (PFM) – Democrat Cass Mastern of Tennessee is under fire for recent comments he made at a House Ways and Means Committee hearing with the Network of Hispanic Health Professionals.
Network official Rafael de la Cruz had been invited to discuss his group’s concerns regarding the current $1.5 trillion health bill being considered. Mastern interrupted de la Cruz’s presentation, “I get what your saying, but I’ve got to ask, ‘Where the chips and salsa, señor?’”
When asked later to explain his remark, the Representative said he was merely pointing out that “the group is so focused on the meat of the plan, they’ve failed to consider the appetizers.”
He went on to explain that the bill designates nearly $1 million to fight obesity and diabetes within the Hispanic community.
Mastern, who has been inundated with questions all week, lashed out at reporters as he left his office today, “I don’t appreciate the implications. These questions are insulting to me and to the Hispanic community. I love Mexicans. Nobody can deny that.”
When reminded that de la Cruz is Cuban, Rep. Mastern replied, “Well, we don’t do too good with the Cuban vote anyway.”
Reports collected from the wire by Jake M. while in his boxer briefs
