Sunday, February 1, 2009

Stimulus.........

The massive stimulus bill backed by President Barack Obama and congressional Democrats could go down to defeat if it's not stripped of unnecessary spending and focused more on housing issues and tax cuts. The bill topped out at nearly $900 billion, and is headed to the floor for debate. It boasts that single workers would gain $500 and couples $1,000, even if they don't earn enough to owe federal income taxes. They say there's going to be too many people who didn't pay the tax to start with. Some Senators characterized the proposal as "a spending plan. It's not a stimulus plan. It's temporary, and it's wasteful." American's are spending less, saving more which is bad for the economy when everyone does it. Economists say more money needs to be poured into the financial industry at the heart of the economy. I say, "Good Luck", people get scared when things like this starts happening.

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