The United States Senate, voted to approve an $838 Billion economic stimulus plan today with the support of only 3 Republican Senators. The bill will now proceed to a joint House and Senate conference which will be faced with negotiating comprises within two very distinctive bills.
President Barack Obama, has been on the road in Elkhart, Indiana and Fort Myers, Florida making his case for his American Recovery and Reinvestment Plan. The President's challenge, following passage of the act by the House and the Senate, will be to hold the thin thread of bipartisanship together that was extended by the 3 Republicans in the Senate, that supported the bill, following a significant reduction of spending, previously passed in the House bill.
To read more about the American Recovery Act visit www.ceo4aday@wordpress.com and www.ceo4aday.blogspot.com.
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I have a quesion.
ReplyDeleteWill this money come from American's trying to pay their bills or from homeless people?
Or will the government print out money to satisfy this new need?
if the government takes this money from the top 5% of people, investment in companies will drop and people will sell their stocks to pay their taxes, leading to more people losing their retirement.
The benefits from this bill can never outweigh the damage it will do to our economy.