« Stocks rebound with moderate gains | Main | Weekly Earnings Preview for February 11th-February 15th »

Feb 7
Senate and House both pass economic stimulus plan

 The senate passed the economic stimulus plan today by a count of 81-16. Within mere hours, the House had passed the same bill by a vote of 380-34. President Bush will likely sign this bill into law as early as tomorrow or early next week.

The new stimulus plan adds some rebates for senior citizens and disabled veterans. The new bill will give $300 tax rebate checks to senior citizens, disabled veterans, and those who earn over $3,000 but do not pay income taxes.

The speed at which this bill was passed through congress speaks to the worry stimulus.jpgaround Washington and the entire country about the American economy. Economic data figures continue to languish, and recently employment numbers have begun to sink, worrying economists greatly.

The senate clearly did some jockeying in these final few days, as Senate democrats fought hard to add unemployment benefit packages and heating aid packages to the bill. In the end those ideas were turned down and congress voted for this $170 billion plan, which will send out rebate checks to more than 130 million Americans.

Some economists believe that this plan will do more harm than good in the long run because of the impact it will have on the national deficit. Those voting against the plan today spoke to those deficit concerns and said that we must control spending in our government.

While economists and some in Washington will argue that this plan does more harm than good, I am sure that Americans will anxiously await these checks that they should receive sometime in late May or early June.

If you enjoyed this article please signup for the RSS Feed from this site.


2 Comments/Trackbacks




We need to shape up and boost our economy, otherwise, the businesses of all the people in our country, as well as the everyday living standards of our people, wil be compromised. I support anything that would bring forth a boost in our economy.

Aaron,
Haven't heard from you in a while!!! How about this market?!?! Anyways, any new ideas or trades you've been thinking about? I am really bullish on the agriculture sector right now (which is due for a major pull-back). Other than that I am still remaining cautious on financials, housing, and retail like usual. Good luck!

--Doug
www.tomorrowsnewspaper.blogspot.com

submit a trackback

TrackBack URL for this entry:

post a comment

Name, Email Address, and URL are not required fields.





Comment Preview

« Stocks rebound with moderate gains | Main | Weekly Earnings Preview for February 11th-February 15th »

Advertise

Related Resources

recent comments

    sponsored ads



    subscribe


    Prefer Email?
    Subscribe below-

    Enter your Email:


    Powered by FeedBlitz What's this?

    Current News

    Support This Blog

    blogroll


    business social media

    Use these fast growing business social media sites to promote your business, feature your products, spotlight your business leaders, create links, and drive traffic back to your company site, all for free!

    BIZZlogos - Add your logo - free link to your site
    BIZZphotos - Add photos of your products and people
    BIZZprofiles - Submit your profile and build your online visibility
    BIZZspotlight - Spotlight your business with free links
    BIZZvideos - Videos about businesses, products and business people.
    BIZZbites - "Digg" for Business - Submit your articles and posts

    Know More Media - Finance / Banking / Insurance

    know more media network

    View Network Map

    Network Feed List (OPML)

    Know More Media Network
    Feed


    we support unitus

    PRWeb

    Influencer



    GrowYourFunds is a member of the Know More Media network of business related blogs.

    Here are some current headlines from some of our business publications:

    ProductivityGoal

    CallCenterScript

    AdHurl

    TheBizofKnowledge

    LandingTheDeal

    CustomersAreAlways

    HealthCareVox

    BrainBasedBusiness

    TheInsurancePolicy

    MarketingBlurb