US Stimulus Package Signed Into Law

[Tom]

http://i2.cdn.turner.com/cnn/2009/images/02/17/t1home.obama.sign.02.gi.jpg

NEW YORK (CNNMoney.com) -- President Obama on Tuesday signed the $787 billion American Recovery and Reinvestment Act into law.

But he's far from being able to declare "mission accomplished."

"Today does not mark the end of our economic troubles," Obama said before signing the bill at the Denver Museum of Nature and Science. "But it does mark the beginning of the end - the beginning of what we need to do to create jobs for Americans scrambling in the wake of layoffs; to provide relief for families worried they won't be able to pay next month's bills; and to set our economy on a firmer foundation."

Indeed, even though debate over the legislation was fraught with partisan fighting and what some characterize as strategic missteps by the nascent administration, getting the law passed was the easy part.

Far more difficult will be gauging whether the legislation's trademark initiatives - which include improving physical infrastructure, investing in energy projects and providing financial relief for families by way of tax cuts and increased government benefits -- are really doing the trick.

The first step is to stem the recession in the near term. In the longer term it will be to put the economy on a path to sustained growth and greater efficiencies in energy production, health care and other areas.

So how will we know if it's working? What will be the signs? The president and economists say the biggest marker will be an improvement in the jobs picture.

"That's bottom-line number one, because if people are working, then they've got enough confidence to make purchases, to make investments," Obama said last week before the bill's passage. "Businesses start seeing that consumers are out there with a little more confidence, and they start making investments, which means they start hiring workers. So step number one, job creation."

[Full Story] (http://money.cnn.com/2009/02/17/news/economy/obama_stimulus_meas_success/index.htm?postversion=2009021713)


Your thoughts on this HUGE stimulus package? I honestly hope it works. I mean, throwing money at the problem can only make it better, right? :confused:

[Dracophile]

I want my freaking check that's what I think. Ever since they've been waving that around in our collective faces me and a few hundred thousand (even MILLIONS) others have been (im)patiently waiting for it.

[Maine Rocks]

We still have a LONG way to go before our country is back in shape!

[Puppy Love64]

I hope you realize this isn't going to help at all. It's just going to get out country into more debt than we already are, and it is going to cost us big time in the future.

[Tom]

I hope you realize this isn't going to help at all. It's just going to get out country into more debt than we already are, and it is going to cost us big time in the future.

Would you mind explaining your reasons as to why it won't work and what the government could've done instead?

[ironicman520]

The U.S needs to take one step at a time before anything can be finished (or if normal will fianally be here which won't be a while). I may not have a job, and I want one with good pay but I know I will never get it. I keep getting denied and I'm sick of it. This is a good start though. One down a lot more to go!

[Puppy Love64]

Would you mind explaining your reasons as to why it won't work and what the government could've done instead?

I would be happy too.

Shoving out more money to fix an economic crisis is going to not help. Why? Because it will just put us more into debt. We put out more money, it lowers the price of the dollar. It has been doing that for years. They should have just let it fix itself. This will not jump start the economy. Did you see that the Stock Market went down 400 points about a week ago because Obama said he was going to sign the bill? They didn't like the idea at all. ( I don't know if that was the exact reason.)

Same thing with the housing market. This bailing people out of problems that they got themselves into will not do anything. They will just do it again, (most likely, but some people really will need it.)

If you disagree with what I have to say, or just don't get it, please feel free to call me upon it.

[Snoopy4life]

God! What a friggin waste. Do you get it that for the next 3-4 generations everyone will be paying for that all? Totally wrong and will get us more into more debt.

Idiotic.

[walmartshrty]

Would you mind explaining your reasons as to why it won't work and what the government could've done instead?

I will help him out.

HAVEN'T WE DONE THIS BEFORE? I strongly remember a stimulus package that Obama supported, not that long ago, that had no effect or simply just weakened our economy. If you try doing something that isn't working over and over again, that does not mean that you are helping the problem. Am I crazy for thinking this way?

Why can't we leave it alone? Seriously. Let up on regulations on companies, and they might start coming back, leading to more jobs, which leads to more economic growth.

EDIT: OMG, Puppy dude, I'm trying to make myself look more intelligent. ;[ Thanks for ruining that plan. JK.

[Tom]

I would be happy too.

Shoving out more money to fix an economic crisis is going to not help. Why? Because it will just put us more into debt. We put out more money, it lowers the price of the dollar. It has been doing that for years. They should have just let it fix itself. This will not jump start the economy. Did you see that the Stock Market went down 400 points about a week ago because Obama said he was going to sign the bill? They didn't like the idea at all. ( I don't know if that was the exact reason.)

Same thing with the housing market. This bailing people out of problems that they got themselves into will not do anything. They will just do it again, (most likely, but some people really will need it.)

If you disagree with what I have to say, or just don't get it, please feel free to call me upon it.

I don't completely agree or disagree. But I do disagree on doing nothing as that's something the last administration tried and now were in too deep. Thanks for posting your reasons.

[walmartshrty]

I don't completely agree or disagree. But I do disagree on doing nothing as that's something the last administration tried and now were in too deep. Thanks for posting your reasons.

That's like saying that last administration did not do the same thing that Obama is doing now, which is neglecting the facts. Bush had a stimulus package as well, as you probably remember, and Obama supported it.

[Snoopy4life]

I'm disgusted in Obama for having a hissy fit to congress about them not agreeing to the thing in the first place. Talk about a totaly brat if you ask me. I can just SEE this being blown out of proportions and ending in disaster.

[Tom]

That's like saying that last administration did not do the same thing that Obama is doing now, which is neglecting the facts. Bush had a stimulus package as well, as you probably remember, and Obama supported it.

Yes, but they're not the same thing. Sure, they're both stimulus packages but Bush's was mainly aimed towards boosting the housing market and giving money to people making little money or seniors living off of Social Security in hopes that it would boost consumer confidence. Which it didn't.

Obama's is aimed towards creating jobs. Here is a chart for all the details for the bill: [HERE] (http://www.msnbc.msn.com/id/29160311). I admit that I don't know everything that was in Bush's stimulus package, but I read enough of the article on it to know what it was aimed towards.

Whether the package works or not, we won't know for months, maybe years. I could care less whether Obama supported it or not.

[conman1001]

I just hope it can help the job situation in NC. We're supposed to get 6 billion, which is supposed to go to the budget shortfall and to save or create like 150,000 jobs.

I hope it does it's job.

[Melaugh]

I still think it would be funny if it doesn't work and we elected him for nothing. But, then again, I really do hope it works.

[worldking01]

Obama used the age old 5 year old thing of...

"If the United Staes is low on money, why don't they just print more of it?"

[biodue123]

I hope you realize this isn't going to help at all. It's just going to get out country into more debt than we already are, and it is going to cost us big time in the future.

agreed, throwing money at the problem wont help it, it will make them spend more, because thats what they all spent to much of: MONEY!

Would you mind explaining your reasons as to why it won't work and what the government could've done instead?

they could of stopped whatever it is they are throwing money at, and give it to the homeless!

[Mook]

I'm really unsure on this..this thing should be called that Spending Bill.

But..lets just wait and see what this Huge Stimulus bill does and if it does even help the economy.

[256log]

Dumbest. Bill. Ever.
It'll fail. God forbid congress reads a bill before voting on it. This is just the beginning of Pelosi and Reid being in charge.
GUNNA BE A TOUGH FUTURE WITH THESE YELLER BELLYS.

[Phenom]

In that picture it looks like Obama is falling asleep, he could use a 5 hour power.
I don't really care, I probably should since the next generation will be paying
for it but really? We all knew it was going to happen.

[Butters]

He's the anti-christ I tell you! THE ANTI-CHRIST!

Yea lets a few hundred billion dollars onto our, what....about 11 trillion national debt. Yup sounds reasonable.


BTW: If everyone is having economic crisis, who has all the money? :confused:

[John-h]

Just make a 1 quadbillion bill for the economy's sake.

The states should make 10 of them, it will fix everything. :scary:

[Anvar]

While USA is away, Russia will play!

On Topic: This won't help as stated above "Throwing money into problem won't help." Especially if you make it usual way: print it.
USA won't be dominating power in the world if this contuinues!:D