STIMULUS BILL PASSES CONGRESS !

There goes the nieghbourhood and here come those tears again.

In a major victory for President Barack Obama, Democrats muscled a huge,
$787 billion spending bill to the brink of final passage Friday night in hopes of combating the worst economic crisis since the Great Depression. Republican opposition was nearly unanimous. The vote in the House was 246-183 for the package of tax cuts and federal spending that Obama made the centerpiece of his plan for economic recovery.In a major victory for President Barack Obama, Democrats muscled a huge, $787 billion stimulus bill through Congress late Friday night in hopes of combating the worst economic crisis since the Great Depression. Republican opposition was nearly unanimous.

In a major victory for President Barack Obama, Democrats muscled a huge, $787 billion stimulus bill through Congress late Friday night in hopes of combating the worst economic crisis since the Great Depression. Republican opposition was nearly unanimous. After lobbying energetically for the bill, Obama is expected to sign it within a few days, less than a month after taking office.

Supporters said the legislation would save or create 3.5 million jobs. House Majority Leader Steny Hoyer, D-Md., conceded there was no guarantee, but he said that "millions and millions and millions of people will be helped, as they have lost their jobs and can't put food on the table of their families.

Congress has turned on the printing presses and put a collect call to China. They think they can spend us out of this recession. They want more federal spending. I want far less spending. Any increase in government spending is a bad idea, the best stimulus is to downsize government and implement a flat tax, 21% sounds about right. The most wasteful part of this plan is to aid states and local municipalities, It's like giving an alcoholic the key to a liquor cabinet. Regardless of the final balance between spending and tax cuts, the two year stimulus package's goals are surely ambitious, lowering unemployment by nearly two percentage points, doubling U.S. production of alternative energy in three years, modernizing 75 percent of federal buildings, and making two million homes more energy efficient. But those lofty goals and big spending come with a hefty price tag. The government projects the federal deficit will reach $1.2 trillion this year for a total national debt of $11.5 trillion and that's not including the proposed stimulus package spending in the next few years.


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