A comprehensive report on President Barack Obama’s Economic Recovery and Reinvestment Act with daily updates on the policies and programs  commencing  February 7, 2009. As most bills in Congress the Economic Stimulus Bill was in Congress for many months before it became a law.  The present economy is coming out of recession as a result of the economic stimulus given to programs effected by its enactment into law.

President Barack Obama signed the $787 billion Reinvestment and Recovery Act became law on February 17, 2009.

The official name of President Barack Obama's  is the Economic Recovery and Reinvestment Act. The economic recovery bill is reportedly 1,200 pages in length. President Barack Obama's recovery plan was signed into law at the Museum of Nature and Science in Denver, Colorado.

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This page is extensive and it is suggested that you only read relevant articles that are of interest to you in the areas of education, health care, transportation, energy efficiency and other specific programs of Obama's $787 Economic Stimulus Package. The recovery package was in full swing as of April of 2009 with results of its economic impact on the crisis commencing about June of 2009.

This update if November 5, 2009 at which time economic experts are saying that the economy is recovering as a result of the Economic Stimulus Package.  Because unemployment is upwards to 9.6% Americans are not attesting that the economy has recovered. The articles, though detailed and dated are a whole and current view of the economic policies at the time of printing and was  expected to jolt the country out of the recession that has raged since December of 2007.
 

The latest update other than the November 5, 2009 report in the introduction that the economy has recovered is April of 2009.  If further or recent updates are needed read lindagoffigan on hubpages library of hubs that has been updated with government modifications and changes in programs such as housing, transportation, banking, automobile industry, financial institutions and education.

 

April 10, 2009

$83 Billion for War Money and States Beginning to Spend $787 Economic Stimulus Package Slowly

President Barack Obama requested $83 Billion for war money on the heels of his G20 world economic summit. President Obama made a surprise visit to Iraq upon completing the summit meetings. There was no word whether his visit to the warring country caused the request.

President Obama is also requesting help with his immigration reform bill. Immigration reform is controversial but President Barack Obama feels that is is time or a discussion.

States are slowly beginning to spend the President Barack Obama's $787 Economic Stimulus Package though some states are either returning the money or using only a portion of it. Arkansas and Illinois is beginning to use the funds to weatherrize low income housing with construction projects. Ohio is beginning to spend millions of the recovery package money on it highways and roads.

President Barack Obama's $787 Economic Stimulus Package has now been a law for about six weeks. The countries 1100 health care centers have received about $340 million from President Barack Obama's $787 Economic Stimulus Package to upgrade its information technology system and health care programs. These health care centers have received an additional $120 million for 130 specialized clinics. Seventy percent of President Barack Obama's $787 Economic Stimulus package is expected to be spent by the year 2010.

Fifty four billion of the recovery package has been alloted to the states and about 11 billion has been disbursed. Although the Transportation Department has distributed little of its appropriation of President Barack Obama's $787 Economic Stimulus Package, states as previously stated has began to highway and construction projects. Transportation employees should see an increase in their payments this month in the Make Work Pay provisions of President Barack Obama's $787 Economic Stimulus Package.

April 9, 2009

Government Accounting Office (GAO) to Keep Tabs on Recovery Plan

The Government Accounting Office has the task of keeping tabs on the president's economic recovery plan. The GAO has 17 months to oversee how the states are spending the money and whether or not the funds are being distributed properly and appropriately. The GAO is using $25 million of the economic recovery funds to accomplish the task of testing agencies for responsibility in managing the stimulus money.

The GAO will not be monitoring all fifty states but will concentrate on a hub of sixteen states. These states include Arizona, California, Florida, Colorado, Georgia, Iowa, Illinois, Massachusetts, Michigan, Mississippi, New York, New Jersey, North Carolina, Pennsylvania, Texas, and Ohio. The GAO only have 17 months to use the $25 million dollars to monitor the economic recovery plan allocation in those states. The funds will be used for the most part to hire 100 economist, lawyers, and auditors. The economic recovery plan is expected to outlast the 17 months that the GAO has been given to oversee the funding in the sixteen states.

The GAO prides itself with being the "watchdog" of the legislative government.

April 8, 2009

States and President Barack Obama $787 Economic Stimulus Plan

The state and local governments are able to stretch federal stimulus funds because the construction project bids are coming in lower than usual. The states are able reap savings from the decreased bids. One recent construction bid in Baltimore drew bidders and a $50 million construction project was able to be done at a cost of only $8 million.

Because of the economic recession, companies are bidding low on construction jobs just to keep their workers employed. Competition is good for the the government bidding process.

The more bidders the likelihood that the price of the construction process to be lower and the construction companies are able to keep their employees working.

April 7, 2009

American Public Opinion about President Barack Obama Economic Policies

President Barack Obama has managed to secure the confidence of the American people according with CBS public opinion polls. The New York Time reported and the Washington Post that polls show optimism since the inauguration of President Barack Obama. A full two thirds of the population showed that they approved of President Barack Obama overall performance inclusive of his handling of the economy, foreign affairs, Iraq and Afghanistan.

In contrast to American's opinion of President Barack Obama, only 31% of Americans showed favoritism to the Republicans, the lowest rating in twenty-five years since CBS started polling for political public opinion. The durability of President Barack Obama's public support has surpassed previous presidents in the office for the same amount of time.

In mid-January of 2009 just before President Barack Obama took office, Americans polled suggested by a 15% jump in the polls that they felt the country was moving in the right direction. Political analysts have said that President Barack Obama have turned the negative feelings around about the country and it may be because of his upbeat ways as former President Roosevelt. The political analysts are saying that it is too soon to tell if the President's $787 Economic Stimulus Package is working but that parts of the economy are beginning to improve.

The polls showed that Americans do not blame President Barack Obama at all for the state of the economy. However 33% blame former President Bush, 21% blame the banks, and 11% blame congress. By a vote of three to one, Americans polled showed that they trusted President Barack Obama over the Republicans and two to one trusted President Barack Obama to keep the country safe.

The polls showed; however, continued political division: Of the Americans who voted for Senator John McCain in the 2008 election, 57 % dissapproved of President Barack Obama's performance. 48% of Americans said they approved of President Barack Obama's spending program and 41% preferred a smaller role in government concerning businesses.

April 6, 2009

Implications of President Barack Obama $787 billion Economic Stimulus Package

The United States local businesses can tap into President Barack Obama's $787 billion Economic Stimulus Package in the areas of energy, education, and transportation. Many of the government contracts will carry new clauses that require the use of domestic products instead of foreign products. These new government contracts out of the $787 billion Economic Package will require prevailing union wages for construction workers.

Attention is now off of the federal government and is placed on state on local governments to see how money is going to be spent on President Barack Obama $787 billion Economic Stimulus Package. Priorites in distributing the money must be in areas where the jobless rate is 1% higher than the national average. Currently the national unemployment rate is 8.5%. States are still evaluating these priorities stating that the percentage points only deals with transportation projects. Companies will have to engage in both public and private partnerships to win stimulus funds.

April 5, 2009

Status of President Barack Obama $787 billion Economic Stimulus Package

President Barack Obama's $787 billion Economic Stimulus Plan has yet to create the millions of jobs that was promised with the bill becoming a law February 17, 2009. In fact almost 700,000 jobs were lost in the month of March. Since the beginning of the recession in December of 2007 five million jobs have been lost due to the economic recession. Economist are putting President Barack Obama's $787 billion Economic Stimulus Plan to the test for the viability of its promised to create jobs.

When President Barack Obama made the $787 Economic Stimulus Plan into law, the expected unemployment rate was expected to reach 8.9% by the end of the year. The unemployment rate now one fourth toward the end of the year at 8.5% Two million jobs were lost between the months of January and March alone.

Just about every industry has been effected with job loss and unemployment except the health care field. There is talk that another wave of government spending may have to supplement President Barack Obama's $787 Billion Economic Stimulus Package.

Consumer markets however have been improving. Housing sales are creeping up, car sales are improving and the retail market is beginning to move forward.Consumer spending has leveled off. President Barack Obama's $787 Economic Stimulus Package is beginning to work its way through state and federal spending with the promise of increased job employment in construction and related industries. Federal officials are saying that even with the bleek unemployment rates, it is still too early to consider another economic stimulus package.

April 4, 2009

The Veterans Affairs Department

The Veterans Affairs Department disclosed today that the federal agency will give qualifying veterans a one time payment of $250. This information was reported by the Associated Press on April 2, 2009.

$1.4 billion will be spent from President Barack Obama $787 Economic Stimulus Package to meet the Veterans Affairs Department committment of awarding this one time payment of $250 to qualifying veterans. The Veterans Affairs Department will use some of the $1.4 billion of President Barack Obama's Economic Stimulus Package to hire $1,500 temporary employees to reduce the backlog of disability claims. The disability claims have been in arrears for about six months and it will be the job of the temporary employees to get the cache back in sync and to an up to date status.

The Veterans Affairs Department distribution of the one time payment of $250 will began issuance as early as June of 2009. June is the month that economist have forecast when the spending of President Barack Obama's $787 Economic Stimulus Package will show relevance on changes in the country's economy. Economists are saying that it will take up to 18 months for the effects of the recovery plan to be in a position to measure its impact on the economic recession.

To be eligible for the Veteran Affairs Department one time payment of $250, the veterans would have had to receive compensation benefits between November of 2008 and January of 2009. Veterans who did not received Veteran Affairs Department between November of 2008 and January of 2009 would not be ineligible. The federal government is projecting that $700 million will be spent on these one time payments of $250 to qualifying veterans.

In keeping with President Barack Obama's goal to improve the administration of the health care system, the Veterans Affairs Department will upgrade veterans hospitals around the country with the $1.4 billion from President Barack Obama's $787 Economic Stimulus Package.

April 3, 2009

President Barack Obama's $3.5 Trillion Budget Plan Approved

President Barack Obama's 3.5 trillion budget plan was approved yesterday by congressional Democrats. President Barack Obama's spending plan is expected to begin with the fiscal year beginning in October.

The bulk of President Barack Obama $3.5 Trillion Budget Plan is to be spent on providing health care for the million of uninsured, cap and trade systems to combat global warmng and for college students tuition costs. These are the central goals of President Barack Obama 3.5 trillion budget plan.

The measures of President Barack Obama's $3.5 trillion budget plan must now move through congress to resolve differences between the House of Representatives and the Senate. The Democrats have embraced the president's budget plan but remain fiercely divided on the intricate details. For example, there is still no agreement on how to overhaul the health care system that is expected to add $1 trillion to the budget over the next decade. There also is not an agreement on how to spend the savings from having companies pay fines for polluting the environment.

Republicans have criticized President Barack Obama's $3.5 trillion budget plan saying that it made for big government and claiming that it will increase the national debt over the next five years. Democrats rebutted that President Barack Obama's budget plan will rebuild a ruined economy as a result of eight years under Republican leadership.

President Barack Obama's $3.5 trillion budget plan was endorsed as follows:

The House voted 233 to 196 for the president's budget bill with only 20 Democrats voting in opposition with the Republicans. The Senate approved its blueprint of President Barack Obama's 3.5 Trillion Budget Plan with only 2 Democrats voting in opposition.

April 2, 2009

G20 Summit

President Barack Obama and First Lady Michelle Obama was in London, England for the G20 Summit. This was the first overseas trip for President Obama and he is scheduled to visit five other countries overseas.

President Barack Obama said that the United States can not be the only country concerned about the "voracious" economy. President Barack Obama said that the United States can not go in alone in the global economic crisis.

President Obama said that the United States should not miss an opportunity to "lead." President Barack Obama said that he went overseas to "listen" moreso than to "lecture." The G20 Summit is not scheduled until Thursday of this week and he said that he expects the other nations to challenge his economic policies.

President Barack Obama met with Prime Minister Gordon Brown and said that "Those are issues that we have to deal with internally, which means that if there is going to be renewed growth, it cannot just be the United States as the engine. Everybody is going to have to pick up the pace." The countries that President Barack Obama hopes to help with the global economic crisis include Great Britain, China, India, Japan and Brazil. Global economic issues that need to be discuss include Hedge Funds, more rigorous bank regulations, secrecy of tax havens, and how to increase funding to the International Monetary Fund. One of the foreign leaders noted that President Barack Obama was looking for "stimulus from the rest of the country."

April 1, 2009

Article withheld because of computer threat.

March 31,2009

Automobile Industry BailOut

President Barack Obama told GM and Chrysler that the government will guarantee automobile warranties in the help with the restructuring the automobile industries. Chryler has 30 days to present a new infrastructure plan to the Obama Administration as it plans to merge with Fiat for financial stability. President Barack Obama has said that he will given $6 billion to the automaker if the restructuring plan is approved. President Barack Obama gave General Motors 60 days to present a new plan to quality for additional government bailout money with no mention of how much the government will contribute to the automaker.

GM's chief executive G. Richard Wagoner Jr., has agreed to step down in an extraordinary intervention of the federal government to help with the restructuring of the automaker. A White House official who did not identify himself said that the government felt that a new change in leadership at GM would be in keeping with changing the company for sustainability. President Barack Obama said that before the federal government can offer any additional bailout money to Chrysler and GM, the companies would have to present at plan "much lean, mean and competitive than it currently is."

March 30, 2009

President Barack Obama on TV about the Automobile Industry Bailout March 30, 2009 11:00 a.m.

President Barack Obama Says No to Additional Auto Bailout Funds

President Barack Obama will announce to the American public that there will be no additional bailout funds to the Chrylser and General Motors automobile industries. President Barack Obama says that the industries are not viable enough for endless government aid. President Barack Obama says that a plan has not been submitted that was acceptable from the automobile giants.

President Barack Obama decision could affect the future of the automobile industry in America. The president is particulary cautious after the irresponsiblity of another company, AIG, handling the government's bailout of $170 billion by giving their CEO's $165 million of the government aid. However, the Obama administration has given the auto industry one last chance to show that the industry should be saved with another government bailout.

On Sunday's television broadcast, Face the Nation, President Barack Obama says that the automobile industry must do more to convince the federal government that it deserves the bailout.

President Barack Obama said "We think we can have a successful U.S. auto industry. But it must be one realistically designed to weather this storm and to emerge--at the other end--much more lean, mean and competitive than it normally is."

March 29, 2009

The Global Reaction to President Barack Obama $787 Billion Economic Stimulus Package

As President Barack Obama prepares for the E-20 Summit and a trip to London to discuss the $787 Billion Economic Stimulus Package among other topics, Europe has pledged not to support any Global Economic Stimulus. Protesters have taken to the streets of Europe to protest against any Globalll Economic Stimulus.

During the E20 summit in London on Thursday President Barack Obama will convince the world leaders that he is not pushing for the rest of the world to follow in his footsteps in regards to the $787 Billion Economic Stimulus Package among other issues. However, the summit will be the focused on the world economy and the International Monetary Fund.

President Barack Obama had pledged earlier to request that the nations put 2% of their value on economic stimulus. Buts Europe has responded that enough stimulus money had been spent. U.S officials said that they had never set any spending economic stimulus limits. The countries at the E20 summit is likely to propose a general pledge.Most European spending plans have fallen short of U.S. targets.

March 28, 2009

Lobbyist and the $787 Economic Stimulus Package

In keeping with his campaign promises, President Barack Obama have banned lobbyist from speaking about the $787 Billion Economic Stimulus Package. In order to participate in President Barack Obama's Economic Stimulus Package, the lobbyist must post the communication on the internet within three days of the request.

Lobbyist are not welcoming President Barack Obama's ban on their participation in the $787 Billion Economic Stimulus Package and has said that the ban goes against the amendment for free speech. Professional lobbyist says that President Barack Obama is basically saying that the lobbyists are not wanted in the White House.

President Barack Obama has said that the lobbyist must speak vaguely about the $787 Billion Economic Stimulus Package and are not allowed to speak specifically on the $787 Billion Economic Stimulus Package. President Barack Obama is keeping his promise to bring transparency to government with this recent move of banning lobbyist to speak on provisions contained in the $787 Billion Economic Stimulus Package.

March 27,2009

President Barack Obama's Internet Public Interview

President Barack Obama in addition to reading the ten letters a day from everyday Americans to get their perspective about the economy has began to accept inquiries through online forums. Americans logged onto President Barack Obama website and he had a moderator to read the questions while he answered them verbally.

President Barack Obama accepted about 80,000 calls and responded to about 13. Charles Gibson of the ABC evening television news showed that the setting was like a town meeting A large intenet computer screen reflection was posted with a few members of the general publc as an audience. President Barack Obama walked around a podium as he viewed the projected computer screen with the question as well as responded to questions from the small audience. The townhall-like meeting setting was in the East room of the White House. The online community was mostly from the younger generation who was inquiring about the $2,500 college credit that the Obama Administration has promised as part of the $787 Billion Stimulus Plan.

President Obama had been adamant about pushing his trillion dollar budget; appearing on The Tonight Show with Jay Leno and addressing the AIG issue in a town meeting in California. President Barack Obama said that he had addressed the generation of people who seek information from the television medium of communication. President Barack Obama used the internet to reach the new genre of the general public who gets most of their information from the internet.

March 26, 2009

Federal Regulations

The Obama administration plans to proposes to regulate the economy inclusive of the $787 Billion Economic Stimulus Package with the following measures.

Regulate government agencies put in charge of bringing financial stability to the banking system.

Establish uniform regulations requirements on capital and risk taking markets no matter who presently regulates them.

Ensure stability of mutual funds in the financial system.

Give governmen the authority to wind down financial markets that fail.

Create federal oversight for large insurance company, hedge funds and other derivative markets.

March 25, 2009

President Barack Obama's TV Press Conference

President Barack Obama said the his $3.6 trillion budget is inseparable from "this recovery." However Republicans are calling President Barack Obama spending plans irresponsible and a few Democrats are waning on their support. President Barack Obama having been in the presidency for a few months has been successful passing the $787 Billion Economic Stimulus Package and reviving the banking system with the help of Treasury Secretary Tim Geithner.

Last night in his second prime time conference since becoming president, President Barack Obama was less intrusive towards the Republicans and spoke with a common purpose to bring recovery to the nation's economy. President Barack Obama asked the American people to be patient while he worked on foreign issues and the impact of lobbyists on Washington. President Barack Obama said in last night's news conference: "What I am confident about is that we are moving in the right direction." Thoughout the public address, President Barack Obama said that he is certain that patience and determination will help win the economic crisis.

President Barack Obama gave no indication that despite Republicans discourse that he would back out of his core economic principles. The president's address lasted for 55 minutes and answered no questions about foreign affairs but concentrated on questions about reviving the economy. President Barack Obama did however accuse the Republican of "having a short memory" when it came to their economic policies. President Barack Obama said: "As I recall, I am inheriting a 1.3 trillion annual deficit from them;" referring to the Bush administration.

President Barack Obama had the new conference on the same day that lawmakers grilled Treasury Secretary Geithner on his knowledge of the AIG distribution of excessive bonuses to its CEO's. President Barack Obama in response to the event said: " It is when we look beyond our short term interests to the wider set of obligations we have toward each other - that we succeed."

March 24,2009

Bank Investments

President Barack Obama released a plan to free up frozen assets from the banking system by relieving them of their troubled assets and toxic loans. Conflicting opinions among banks, consumers and taxpayers slowed the process. The banks thinks that the government is selling the assets too low. People on Wall Street and in Washington spoke favorably of the banking plan. The stock market rose to it highest index after President Barack Obama's release of the banking plan. The Standard and Poor's index rose 7.1% the highest in 5 months.

The Private Investment program which was announced by Treasury Secretary Geithner on March 23, will use $75 billion to $100 billion of government rescue funds to buy $1 trillion in real estate related assets. These funds have already been approved by the Congress with investments from private investment firms and loan guarantees by the FDIC.

If the Treasury Department use the entire $100 billion from President Barack Obama Economic Stimulus Package, that would leave only $12 billion of uncommitted funds. The government is trying to make the Investment program more attractive to private investors by promising to match four times as much equity into the program. The taxpayers will receive a greater windfall if the banking system recover and the investments become more profitable.

Economic analyst fear that the tax payers may be giving up too much to the banking system and may be leaving too much money on the table. The FDIC think that the investment program will be profitable and disagree with the economic analyst. Treasury Secretary Gethner wanted to wait until the AIG controversy was calm before making the announcement of the new banking initiative, but decided that the economy was in much need of the investment program.

March 23, 2009

Foreign Businesses

President Barack Obama's $787 Billion Economic Stimulus Plan is gaining interest from foreign businesses. Prince Felipe and Princess Letizia from Spain was in New York and Washington to drum up business from President Barack Obama's $787 Billion Economic Stimulus Plan. Prince Felipe said that by working together with the United States, countries can get their economies back track.

Many foreign businesses are in Washington lobbying to get contracts for providing clean energy, high speed transit and other projects listed on President Barack Obama's $787 Billion Economic Stimulus Plan. A majority of these foreign businesses have operations set up in the United States.

March 22, 2009

Public Investment Corporation

The Treasury Department has established the Public Investment Corporation to manage the $1 trillion to purchase loans and assets from ailing banks. The corporation will work with the Federal Reserve and the Federal Deposit Insurance Corporatin to buy those loans and assets. These laons and assets include hedge funds, pension funds, private equite firms and foreign investors with U. S. headquarters.

President Barack Obama $787 Billion Economic Stimulus Package will provide $70 billion to $100 billion of the funds needed for the Public Investment Corporation. The Public Investment Corporation may received backlash from Americans because of the outrage concerning the excessive $165 million bonuses that AIG irresponsibly paid its executives from the $170 billion government bailout with taxpayers' money. Congress is seeking a solution to the AIG controversy by leving a punitive 90% tax on the CEO's bonuses. The move on Congress to levy taxes has dampened banks who may need federal assistance for fear of also being taxed if bonuses are awarded to their CEO's.

The focus of President Barack Obama's $787 Billion Economic package is to increase lending, stabilize banks, aid consumer credit markets and provide relief for struggling homeowners. The FDIC and the Public Investment Corporation goal is to create several investment funds that could buy between 500 billion to 750 billion loans. The Treasury Department said that more information about these programs will be revealed in the coming weeks.

March 21, 2009

Energy

Energy Secretary Steven Chu has began work tohelp with the production and installation of solar panels to reserve energy for the United States. Energy Secretary Chu contacted Solyndra, Inc a solar panel installation company with $535 million of President Barack Obama $787 Billion Economic Stimulus Package to to help the four year old company construct the solar panels. The project will answer President Barack Obama's promise for the $787 Billion Economic Stimulus Package for the creation of jobs with the employment of 3,000 Americans.

Once the solar energy plant is built, the solar panel company will employ about 500 Americans. Congress approved the solar energy program in 2005 and President Barack Obama's $787 Economic Stimulus Package gives the program the funds needed to get it underway. The recovery plan is set to guarantee about $60 billion of loans guarantees for the federal assisted projects.There is $38.5 billion of loan guarantees left over from the Bush administration.

Using the scaled downed policies that President Barack Obama has mandated for his administration, Mr. Chu said that he will be using only 50 application materials required instead of the initial 1,000 pages of application materials. Mr. Chu thinks that the scaled down application materials of installing the solar panels will reduce the production time of the project. He expects to shorten the production time of this energy saving installation program to four months instead of several years.

The Energy Department said that President Barack Obama's Economic Stimulus Package will cover about 73% of the Solyndra Manufacturing production costs. The Solyndra Manufacturing Company said that it will gladly make up the 27% in production cost needed to install solar panels that will transmit 500 megawatts of energy a year.

March 20, 2009

Congress to Levy Tax on AIG CEO Bonuses

To hush the American's outrage of the $165 million payouts to AIG's CEO's, Congress has voted to levy a 90% tax on the CEO bonuses that was distributed to AIG CEO's in which the company had received a government bailout of $170 trillion of taxpayer's money. The action came swiftly upon hearing a statement from the Chairman Edward Liddy who has said that a few of the CEO's has been voluntarily giving back the excessive bonuses from AIG to the government. Liddy has declined to list the CEO's names out of safety issues. The government's action has been stated as being punitive because of the irresponsibility of AIG with taxpayers' money who own 80% of the company.

The House bill to tax the AIG bonuses were approved with a vote of 328-93. the bill states that if CEO's bonuses exceed $125,000 then it is taxed by 90%. The funds taxed will go to an extra income tax. The bill may reach nine of the largest firms in the country that have received $5 billion in assistance from President Barack Obama $787 Billion Economic Stimulus Package.

March 19, 2009

$1.2 Trillion to be Pumped into Economy by the Federal Reserve

Although economist are forecasting that the economy will improve during the latter part of the second quarter of the year, The Federal Reserve System yesterday said that $1.2 trillion will be pumped into the economy . The Federal Reserve System plan to use government bonds and mortgage related securites to help stimulate the economy that is presently in a recession.

Economist are saying that this new money from the Federal Reserve System makes President Barack Obama's $787 billion Economic Stimulus Package minute in comparison.

This move on the part of the Federal Reserve of pumping $1.2 trillion into the financial system indicates that the financial system has not improved. The Federal Reserve assets will balloon up to $3 trillion making it difficult to sell the bonds and securities when needed. Economist are saying that there is a risk of inflation if the Federal Reserve is unable to sell the value assets because of the tremendous amount of money that will be circulating in the economy.

Chief economists of major banks are saying the the economy should improve in about nine months and at that time the Federal Reserve System will have to find a exit that will not damage the economy. Officials of the Federal Reserve System were careful to say that they were not just printing money to help with the federal deficit. They said that an additional purchase of $300 billion in Treasury bonds is needed to stimulate the economy scheduled within the next six months.

The Bank of England took similar steps with their economy and have had positive results. Japan used the same process of pumping money into the economy during their economic crisis of the 1990 also with positive results.

The Federal Reserve System in the past had been using manipulation with credit to help to keep the economy in balance.

March 18, 2009

HealthCare

President Barack Obama's $787 billion Economic Stimulus Package will be used mostly in the area of transportation costs in infrastructure, building and repair. in most of the state's aid. However President Barack Obama's $787 billion Stimulus Package has allotted $1.1 billion of the $787 billion Economic Stimulus Package to have federal agencies test competing brands of medical treatment for Americans. The approach called comparative effective research looks for the best treatments for use of the stimulus package.

Nearly 18% of the Gross National Product goes towards health cost for Americans.

Some skeptics are concerned that President Barack Obama's $787 billion Economic Stimulus Package is using a European approach to health care that looks at health care as a cost problem instead of a growth industry. Critics are concerned that President Barack Obama's $787 billion Economic Stimulus Package limits growth and innovation because of its concern with costs. However, the Veterans and Health Administration and many other private health plans have been using comparative effective research.

Pundits are saying that President Barack Obama Economic Stimulus Package should not seek to combine clinical findings with cost effectiveness. Proponents of the health care research says that the medical evidence can change the way we buy and deliver health care in our country. Advocates for the medical comparative research is saying that President Barack Obama's $787 billion Economic Stimulus Package is letting the states say that they can cover this type of health care plan. Comparative health care plan saved the government over $300 million in 2003.

The Agency for Healthcare Research and Quality will receive $300 million under President Barack Obama $787 billion Economic Stimulus Package. The remaining stimulus money will be divided between the National Institute of Health and the Department of Health and Human Services. The Institute of Health will prioritize the research.

March 17, 2009

AIG Public BackLash

President Barack Obama may receive public backlash in the event that another Economic Stimulus packageis needed because AIG gave $165 million to its CEO's for bonuses after the government had bailed them out with $170 billion of federal taxpayer's money. Public anger have surface because AIG had received $170 billion from the government as a bailout of the industry that President Barack Obama learned about a day before the $165 million in bonues were distributed to the CEO's of the American International Group (AIG).

There has been action by President Barack Obama to limit the bonuses of executives on Wall Street and banks to $500,000. Political analysts are saying that the challenge now is for President Barack Obama to open public discussions of the AIG issue in the midst of this downturn. President Barack Obama has scheduled a meeting Monday with small business to send a clear message that his administration is not only concerned with the big businesses on Wall Street. However the behavior of AIG has infuriated Americans about the irresponsible use of government and taxpayers money for executives bonuses when the company had received federal funds to help with its economic crisis.

President Barack Obama hopes that there will not be a resurgence of public anger on the handling of the AIG issue as a backlash of its recent action of awarding excessive bonuses to its CEO's. However, Americans have began to question the part of government and big business when they irresponsibly give bonuses to CEO's money of which belongs to the taxpayer.American are convinced that the most important long term issues in the economy within the last two years is the nation's health care program and energy dependence on foreign oil by the United States. Americans immediate concern as is President Barack Obama is handling the huge bonuses paid to AIG executives. The $165 million of taxpayers money has already been distributed to the AIG's CEO's.

A recent poll showed that 83% of Americans believe that the government should limit CEO bonues who have sought federal assistance to stay in business. Also in the speech to Congress President Barack Obama denounced CEO's who would "use taxpayer's money to pad their paychecks or buy fancy drapes or disappear on a private jet."

March 16, 2009

Organizing for America $3.55 Trillion Budget Plan Support

President Barack Obama plan to hosted campaign like support meetings to get Americans to help get his $3.55 trillion budget plan through Congress. The effort is called Organizing for America and is similiar to the campaign push used to get President Barack Obama elected into the presidency and to get the $787 Billion Economic Stimulus Package passed into law.. About 3,000 of these events were attended and helped the bill to become law on February 17, 2009.

President Barack Obama is enlisting an army of campaigners in what is called the Organizing for America as part of the Democratic National Convention way of using information technology to reach millions of supporters.. Organizing for America is enlisting the help of 13 million email lists to get President Barack Obama's $3.55 trillion budget passed through Congress with a $1.75 trillion deficit.

An email from the White House has already been sent out requesting Americans to go door to door to get support for President Barack Obama's $3.55 trillion budget. Supporters for President Barack Obama $3.55 trillion budget plan are asked from the official website of the Organizing for America subsidiary of the Democratic National Convention to use the site to get lawmakers contact information to start the campaign like effort. The supporters will receive a mid week email to ask them to call the White House directly to show their support of president Barack Obama $3.55 trillion budget plan.

The Organizing for America campaign-like efforts to get support for President Barack Obama's $3.55 trillion budget plan will last for several weeks and has been called a budget fight. President Barack Obama announced the beginning of the Organizing for America constituency on YouTube at the beginning of his presidential campaign in January. President Barack Obama said of the organization "That's why I am asking people like you who fought for change during the campaign to continue fighting for change in your communities."

Many Republicans and some Democrats have expressed opposition of President Barack Obama's $3.55 trillion budget plan because of the $1.75 trillion deficit and the spending proposals outlined in the plan. Senate Minority Leader Mitch McConnell a Republican from Kentucky said that President Barack Obama's $3.55 trillion budget plan "taxes too much, spends too much and borrows too much."

The Organizing for America group has tested the campaign like request for supoort of President Barack Obama's $3.55 trillion budget plan with calls and where a few of the meetings were scarcely attended. Alex Vogel, Prarack Obama's former campaign manager, and who helped to form the Organizing for America subsidiary, however said that "There is no better asset in America today" than America's email list to get a grass root support of President Barack Obama $3.55 trillion budget plan.

March 15, 2009

President Obama Talks with Foreign Leader About the Economy

President Barack Obama met wih Brazilian President Luiz Inacio Lula da Silvain Brazil speaking optimistically about the $787 billion Economic Stimulus Package. President Barack Obama downplayed the financial differences between the United States and Europe. President Barack Obama said that China should have full confidence of the safety of its many investments in the United States economy.

President Barack Obama has been meeting with world leaders in the Oval Office of the White House to speak on the viabiity of the United States economy. Both leaders will meet on April 2 for the Group of 20 countries summit to further discuss the United States and the international economy.

President Barack Obama said that talks of the United States spending with another stimulus package and Europe tighting up on regulating banks is a "phony debate." After the meeting with the Brazilian President, President Barack Obama said that "clearly there are no sides," referring to economic policies between Europe and the United States economy.

President Barack Obama said that the $787 billion Stimulus Package and the financial regulation was needed to revive the global economy. Treasury Secretary Geithner has been pushing for Europe to match the United States $787 billion Stimulus Package with spending and tax cuts.

Chinese Premier Wen Jiabao has expressed concern about the $1 trillion China has vested into the United States debt. China is the largest contributor to the United States economy and President Barack Obama has been courting the country to help pay for the $787 billion Economic Stimulus Package. President Barack Obama said that there was no need for Premier Jiabao to worry. President Barack Obama said: "I think that not just the Chinese government but every investor can have absolute confidence in the soundness of investments in the United States."

March 14, 2009

Video of President Barack Obama speaking about the condition of the economy and the creation of jobs. Video is at bottom of article.

March 13, 2009

Spending

President Barack Obama is expected to meet with top government officials to take a look at how the $787 Billion Economic Stimulus Package is being used responsibly throughout the United States. President Barack Obama spoke to a group of executives yesterday and said: The nation has been "lured by the illusion of prosperty." President Barack Obama blamed the present economic crisis on "reckless speculation and spending beyond our means on bad credit and inflated home prices."

Americans continue to turn to the government for help as unemployment rose to over 10% in four states. According to a recent survey unemployment requests for benefits rose to an all time high. Foreclosures on homes also increased in the month of February even with the government's efforts in the home mortgage area to decrease the number of people losing their homes.

As the recession worsens, Americans are finding it harder to pay off credit cards and automobile loans. Businesses are struggling to pay their debt also. Depite falling energy prices, the retail markets has not yet been jolted back in to a before recession era of sustainability. Economist are saying; however, that there are a few signs of the retail markets resurgence in the economic market. At this retail rate, it would take about one and a half months to to clear inventory meaning that production would decrease and job layoffs would continue.

March 12, 2009

$ 410 billion Omnibus Spending Bill

President Barack Obama's spoke against the $410 billion Omnibus Spending Bill because of the more than 8,500 earmarks. President criticized the $410 billion Omnibus Spending Bill where the earmarks cost $7.7 billion by saying the following: "This piece of legislature must mark an end to the old of doing business and a new era of responsibility and accountability that the American people have the right to expect and demand."

President Barack Obama noted that the bill was on the floor of Congress before he took office and broke away from campaign contributions and spending programs that he had vowed to discontinue. Although President Barack Obama wanted to bring reform to the way the business of spending was done in Washington, most congressman believe that it is their constitutional right to direct money to their districts.

President Barack Obama words would carry little weight unless he vows in the future to veto any program that is full of spending projects. Although earmarks are less than 2% of the federal budget, economists are saying that they are wasteful spending and waste taxpayers money. Economist are saying that the earmarks in the $410 billion Omnibus Spending Bill of $7.7 billion dollars are there basically to win votes for lawmakers in their home states.

March 11, 2009

The $410 Billion Omnibus Spending Bill

President Barack Obama praised the $787 billion Economic Stimulus Package as doing the job at home of stimulating the economy. However, President Barack Obama signed an Omnibus Spending bill of $410 billion to keep the government running for the rest of the year. The bill was loaded with $8 billion of earmarks that President Barack Obama disagreed with. He did not sign the bill publically and made notations that he was signing it only to keep the government running. President Barack Obama also said that he did not agree with the earmarks that had politicians challengining even though they had entered earmarks themselves.

Robert Gibbs, the White House spokesman said that the $410 billion spending bill represents last year's spending cost.

President Barack Obama said: "We are doing a good job of stimulating the economy here at home but the United States has to be mindful of what is happening overseas." President Barack Obama said that these nations know that a "strong U.S. economy will help their economy so they are rooting for our success. We have to make sure that we're rooting for theirs as well. We've got a lot of exporters who have a bright spot for the U.S. economy but we are now facing tough times because the purchasing power of foreign customers have diminised.

Because of the earmarks, the $410 billion spending bill has been called imperfect. President Barack Obama signed the bill though he said that the process can work a little bit better.

Legislators suggested to veto the bill but Congress said that the bill had been in place before President Barack Obama took office. The official name of the bill that was signed today is the Omnibus Spending Bill. The bill provides funding for nine federal departments covering all government activities except homeland security and veterans affairs whose budgets were approved last year.

March 10, 2009

Energy

President Barack Obama's $787 billion Stimulus Package upgrade of the nations energy grid would cost hundreds of billions of dollars and would need for the general public to shift their understanding of savings on energy usage.

The smart energy upgrade will become more important if President Barack Obama succeeds in making companies pay for excessive use of carbon emissions with extensive fines called the Cap and Trade System. President Barack Obama's $787 billion Stimulus Package calls for a reduction in the use of fossil oil and to stop the dependence of the United States on foreign oil.

President Barack obama promises a "better smarter electricity grid" as part of the $787 billion Economic Package. The system that was considered a marvel two generation ago is in dire need of reconstructuring. The grid basically carries electricity to Point A to Point B whenever a light switched is turned on or a cell phone is charged. The existing grid can not pinpoint a power outage and then repair it. The energy grid is a hodgepode of energy systems that weave in and out of neighborhoods consuming billions of dollars each year because of congestion.

President Barack Obama's $787 billion Economic Stimulus Package provides for making the energy grid better and more efficient. Once the energy grid is revamped, the energy user will have to take action to further save on energy costs. The central movitator of the electric energy grid is costs that is contained in President Barack Obama's $787 billion Economic Stimulus Package. The energy plan is to build fewer plants and make smarter soft ware to optimize everyone's use of energy. President Barack Obama's $787 billion Economic Stimulus Package allows for millions of dollars to run large scale tests on energy efficiency and consumer relative to green technology.

March 9, 2009

$787 Billion Economic Stimulus Package

States are in confusion about how to account for and spend their proceeds from President Barack Obama's $787 Economic Stimulus Package. Economists are telling the state that the main goal of President Barack Obama's Economic Stimulus Packages is for state to spend on the provisions outlined in the package and to get the economy moving again. However, the states are hassling over whether to spend their portio of President Barack Obama's $787 Economic Stimulus Package on their needed projects in their states or on the program that it was packaged for. Economist are telling the states to basically spend so the America will start working again and get the jolt to the economy that is direly needed.

The confusion and intent of President Barack Obama $787 billion Economic Stimulus is causing states to delay using the tens of billions of dollars that has become to flow to state's aid.

The state of Kansas has decided to use its state funds to save on those appropriations by using money from President Barack Obama's $787 billion Economic Stimulus Package for projects. Saving the money from the recovery package is not going to help stimulate the economy. Kansas plans on using money from President Barack Obama's $787 billion Economic Stimulus Package to put in a "end of the year" fund even though there are stipulations not to use the money for any type of rainy day fund. The end of the year "cushion" fund is a state requirement. Most Kansas politicians realize that the recovery plan is not a plan for the state's deficit but to expand Medicaid stimulus provisions.

The state of Texax is proposing to use President Barack Obama's $787 Economic Stimulus Package to build a $181 million highway around a suburb that has been in production for years and can now be performed with the help of the recovery package. The 14 mile stretch of highway is to be called the "Grand Parkway."Proponents argue that President Barack Obama's $787 Economic Stimulus Package is appropriated to be used for "shovel ready" projects and that the "Grand Parkway" was in the legislative condition,

March 8, 2009

Transportation

President Barack Obama's Economic Stimulus Package transportation agenda is to fund high rail intercity passenger programs with $8 billion of the $787 billion Economic Stimulus Package. President Barack Obama's administration has allotted $5 billion more over the next five years of the transportation budget to fund the high speed and inner city passenger rail program.

Lobbyists and advocacy groups are not used to this amount of money to be funded toward transportation. The state of Minnesota portion of President Barack Obama's $787 billion Economic Stimulus Package is $500 million of which the state is making the most of the one time opportunity.

President Barack Obama in moving the nation into the 21st century of building high-speed rail transportation systems that in the past; transportation agenda's had been mostly centered around building roads and bridges. Nearly half of the $48 billion appropriated to transportation will be used to build rail, buses and other non highway projects. Amtrak alone will receive 1.3 billion toward its rapid rail projects.

The Transportation Department will receive $2 billion more for aviation and rail improvements under President Barack Obama's 2010 national budget.

The high-speed rail will connect the nation by rails that will be faster and more convenient than flying or driving. But despite money used of the $787 billion Economic Stimulus Package, the high speed rail system will need more funds to compete with the rail systems operating in Europe and Japan. A proposed 432 mile rail system to connect Los Angeles to San Francisco called the California project would cost $45 billion of which $9 million would be from California state bonds approved last year. The high-speed rail ride would be reduced to 2 1/2 hours.

Republicans are criticizing President Barack Obama's spending of the $787 billion Economic Stimulus Package on thee high speed rail system as a government spending in excess. Bobby Jindal, a spokesman for the Republican Party has called the transportation spending of the $787 Economic Stimulus Package as "wasteful spending." The project that Jindal suggested, a rail system from Las Vegas to Disney World in California was not included in President Barack Obama $787 Economic Stimulus Package.

President Barack Obama initially requested $10 billion for the high speed transportation project. President Barack Obama noted that China has rail transportation with speeds of more than 300 miles per hour.

President Barack Obama said, "I dont want to see the fastest train in the world built halfway around the world in Shanghai, I want to see it built right here in the United States of America."

The Federal Railroad Administration that spent only $30 million last year on rail system projects is scrambling to have federal guidelines in place within the next six weeks.

March 7, 2009

Unemployment

Unemployment nationwide has hit an all time high of 8.1 % upwards from 7.6%.The unemployment of Americans is now at its highest since 1983. As early as this summer, one out of every 10 Americans may be facing unemployment.In the month of February job loss amounted to 651,000 people across the country. The category of people working part time who wants to work full time, people who had given up looking for jobs in light of the economic crisis increased to 14.8 percent. The month of April saw the the greatest jump in unemployment rates since 1975.

President Barack Obama has called the unemployment nationwide as "astounding." "We have a responsibility to act and that is what I intend to do" said President Barak Obama about unemployment.

President Barack $787 Billion Economic Stimulus Package is shadowed in the wake of the growing rate of unemployment when its major goal was to create 3.7 million jobs. Economists are saying that considering the scope of the unemployment problem, the $787 Billion Economic Stimulus Package provisions appear to be insufficient. Since the beginning of the recession in December of 2007, the country has lost 4.4 million jobs.

In acknowledging the leaps and bounds of unemployment, economist are still not saying that another stimulus package will be necessary. They are saying that the administration needs to look at bigger policy responses. Economist are also saying that the administration policy responses have to be ahead of this whole down turn in the economy and not a step behind. However, the International Monetary Fund has pushed for additional fiscal stimulus to the economy, worldwide.

As unemployment usually lags behind in economic growth, it is likely that the deep decline in unemployment will probably continue. Economist are not looking for the economy to leave its state of recession anytime soon. The good economic news is that unemployment is stabilizing at low levels meaning that job losses will slowup this summer.

Economist are looking for President Barack Obama$ 787 Billion Economic Stimulus Plan to have a noticeable impact on the economy during the second part of the year. President Barack Obama Economic Stimulus Plan is likely to spur economic activity through the end of next year and towards the early part of 2011. Unemployment could also undermine President Barack Obama housing plan. Unemployment is a very important factor in the wake of home foreclosures. Fred Willen, an economist with the Federal Reserve Bank says: "If you have no income, it is hard to pay any mortgage at all."

March 6, 2009

Education

Education provisions of President Barack Obama $787 Billion Economic Stimulus Package is in the news today with government officials surveying schools cited to receive money from the $787 Economic Stimulus Package. Education Secretary, Arne Duncan said that struggling schools in America needs more than funds and the recovery plan is to help get American schools on the same level as India and China. President Barack Obama in an attempt to restructure American Schools are looking to expand school days, fire bad teachers and keep good teachers.

Mr. Duncan said the influx of cash that is expected to be available to the states within 30 to 45 days will be used to make needed school repairs and to adopt policy that has been proven to work. President Barack Obama's $787 Economic Stimulus Plan will channel $100 billion into the nation's schools. The infusion of cash is for public school, colleges, universities, and early childhood development programs nationwide. President Barack Obama $787 Billion

Economic Stimulus Plan will help prevent teacher layoffs, repair overaged schools and educate low-income children. President Barack Obama's 787 Billion Economic Stimulus Package promotes performance pay to reward good teachers.

March 5, 2009

Health

President Barack Obama has issued a warning in light of his $787 Billion Economic Stimulus Package. President Barack Obama warned special interest groups to not stand in the way of his efforts to rein in costs and guarantee health coverage for all Americans. President Barack Obama said he intends to have a sustainable health care program in place by the end of the year.

President Barack Obama speaking in front of a White House forum said: "During the campaign, I put forward a plan for health care reform. I thought it was an excellent plan. But I don't presume that it was a perfect plan or that it was the best possible plan." As a presidential candidate, President Barack Obama had promised public insurance programs to compete with private insurers. Insurers opposed the idea of a public insurance program.

At the White House forum, President Barack Obama went on to say in respect to his health care program: "If there is a way of getting this done where we're driving down costs and people are getting health insurance at an affordable rate and have a choice of doctor, have flexibility in terms of their plans, and we could do that entirely through the market, I'd be happy to do it that way. If there was a way of doing it that involved more government regulation and involvement, I'm happy to do it that way as well. Liberals said that the new public option of President Barack Obama's health care plan was an essential element to achieve universal coverage.

President Barack Obama's Economic Stimulus Package have provisions to extend coverage to 46 million people who have no health insurance. President Barack Obama warned those that may object to pubic health reform or have a financial stake in health reform: "Those who seek to block any reform at all , any reform at any cost will not prevail this time around."

March 5, 2009

Housing

President Barack Obama's $787 Billion Stimulus Package has taken a back seat in the news today because of reports of homeowners mortgage loan balances are more than the value of the home. Economist are calling the phenomenon of this magnitude in housing, the upside down mortgage. President Barack Obama's $275 Billion Housing Stability Plan of which $75 Billion can help home owners finding themselves in the mortgage calamity. President Barack Obama's administration is offering refinancing under the $275 Billion Housing Stability Plan. Nationwide more than 8.3 million homeowners owe more than their homes are worth which is about 20% of all outstanding mortgages. The $275 Housing Stability Plan was put into place to save 9 million homes However, tens of thousands of homeowner will not qualify for the federal help.

Homeowners who qualifies do not have to presently be behind on payments for eligibility requirements. Delinquent borrowers and borrower who are on the verge of default on their mortgage loan qualifies. Mortgages must have been made January 1, 2009 or earlier to qualify for help from the $275 Billion Stability Plan. The monthy mortgage payment must exceed 31 percent of the borrower's gross monthly income. Homeowners must take advantage of this federal aid before 2012.

Only homeowners who are in good standing with Feddie Mac and Fannie Mae qualifies and the property must be owner occupied. Also the homeowner who qualifies for the $275 Billion Stability Plan must be able to make the new monthly payments with a viable income. Other stipulations of the qualification for federal help states that the borrowers can not owe more than 105 per of their home's value and the home must be their first mortgage. Refinancing options are only available until June of 2010.

Homeowners should contact their lender or mortgage servicer to qualify for mortgage help from the $275 Billion Stability Plan set in place to bail out homeowners from upside down mortgages.

March 4, 2009

States and the $787 Billion Economic Stimulus Package

The states have four months to start spending President Barack Obama's $787 Billion EconomicPackage. Billions of dollars for public work projects has been released to create jobs. The $787 Billion Economic Stimulus Package is expected to create 3.7 million jobs and is the main reason that President Barack Obama signed the recovery bill into law February 17, 2009. Also an identification logo has been released to represent the $787 Billion Economic Stimulus Package and what it means to the American people.

From the east coast to the west coast of the United States, $50 billion of President Barack Obama's $787 Billion Economic Stimulus Package could create up to 400,000 jobs on small transportation projects. The job estimate is from the President Barack Obama's budget department. On highway projects the Obama's administration forecasts the creation or saving of over 150,000 jobs.

The states are given perimeters in spending President Barack Obama's $787 Billion Economic Stimulus Package but have about four months to start using it. Lawmakers are adamant about getting the needed spending from President Barack Obama's $787 Billion Economic Stimulus Package to their districts. Other than the Medicaid allocations, most states are choosing to spend their proceeds from President Barack Obama's Economic Stimulus Package on road projects that had been pending federal fiscal appropriations. Other states are using money from the $787 Billion Economic Stimulus Package to build the crumbling infrastructure of their states. Most states are also deciding to fix existing roads with money from President Barack Obama's Economic Stimulus package than to build new ones that would only increase traffic. Many contractors across the country are gearing up for more work in the wake of President Barack Obama's $787 Billion Economic Stimulus Package.

March 3, 2009

Job Creation

Today, President Barack Obama is headed over to the Transportation Department to further push the $787 Billion Economic Stimulus Package that was passed on February 17, 2009.

Meanwhile political strategists and economists are saying that President Barack Obama's $787 Billion Economic Stimulus Package will create federal jobs as the bill pans private contractors in regards to working on some infrastructures. New spending on health care, energy and education brings with it the need for tens of thousands of federal employees to help implement the programs. There has been a generational decline in federal employees and President Barack Obama's Economic Stimulus plan is expected to make a change in federal employment by reversing that trend.

How many federal employees are going to be needed to help implement the recovery plan? One estimate stated that the new jobs would require 100,000 and the Heritage Foundation offered an estimated need of over a quarter of a million new federal employees to join the ranks of civil service. White House budget director Peter Orszag said that a majority of the jobs will be in Medicare as a checks and balance procedure as well as other health care areas. The Department of Veterans Affairs is expected to hire more than 17,000 new employees. The Social Security Administration did not specify the number of employees they may have to hire to use the funds from President Barack Obama's $787 Billion Stimulus Package but has projected an employee hiring increase with the 10% jump in their budget.

President Barack Obama's $787 Billion Stimulus Package could encompass a federal hiring spurt that will surpass the employment hikes of President Lyndon B. Johnson's Great Society Agenda in the 1960's.

March 2, 2009

National Association of Business Economists

Economist are mixed on the effects of the $787 Economist Stimulus Package. The National Association of Business Economics results of a survey showed that the nation's economist are divided on the ability of the $787 Economist Stimulus Packagage to revive the economy. One third of the economic respondent said that the economy is to stimulative, one third of the economicst stated that it was not stimulative enought and the other third of the economist prefer more restrictive economic measures. Eighty three per cent of the members of the NABE expects for the economy to be more stimulative in the next two years. The results of these economic surveys were released to the public Monday March 1, 1009.

Sixty percent of the NABE members surveyed think that the $787 Billion Stimulus Package will help the economy to overcome the recession. The extension of unemployment benefits, personal tax cuts and improved infrastructures were elements that convinced the NABE members of the positive effects of the $787 Billion Package.

March 1, 2009

Budget

President Barack Obama said Saturday, February 28, 2009 the following in reference the economic systems prior to the $787 Billion Stimulus plan: "The system we have now might work for the powerful and well-connected interests that have run Washington for far too long, But I don't. I work for the American people." President Barack Obama said that he will fight for health care, engergy and education.

President Barack Obama said that the budget he submitted will help millions of people but only if Congress overcome resistance from lobbyists. President Barack Obama spoke these words concerning the economy and special interest groups: "I know these steps won't sit well with the special interests and lobbyists who are invested in the old way of doing business, and I know they're gearing for a fight. My message to them is this: 'So am I.' "

President Barack Obama stated that his budget is inclusive of what he promised in his campaign promises. This is what he had to say to budget critics: "It is the change the American people voted for in November." He said, Insurance companies will not like "to bid competitively to continue offering Medicare coverage, but that's how we'll help preserve and protect Medicare and lower health care costs. I know that banks and big student lenders won't like the idea that we're ending their huge taxpayer subsidies, but that's how we'll save taxpayers nearly $50 billion and make college more affordable. I know that oil and gas companies won't like us ending nearly $30 billion in tax breaks, but that's how we'll help fund a renewalble energy economy." President Barack Obama acknowledged that his budget plans are a threat to the status quo of Washington.

Republicans in the House and the Senate continued to criticize President Barack Obama's spending proposals and his $1.75 trillion projected budget deficit.

February 28, 2009

Urban America

President Barack Obama made the first major push toward providing internet access to rural areas of America with the allocation of $7.2 billion from the $787 Economic Stimulus Package. Economist are saying that the recovery plan is not providing adequate technology to the urban poor. One provision provides $250 million for technology in urban areas but may not be sufficient to help the 21 million urban poor.

People in urban areas are having to use library to get internet access. They realize the importance of the internet because now DMV office are advocating using their services on line as well as other agencies. Public Assistance programs are moving their service on the internet as well.

President Barack Obama major goal is to create 3.7 million jobs. Though information accessibility is important, his main goal is to assure that the governors are accountable to money used from the $787 Economic Stimulus Package responsibly.

February 27, 2009

Budget

President Barack Obama's $787 Billion Stimulus Package which is now law and may be extended with additional revenue to sustain the economic crisis has been called "a grand spending plan." The recovery plan is a two year package that is expected to be evaluated with 18 months of becoming a law on February 17, 2009.

On a grander scale, President Barack Obama has announced a 10 year budget accompanied with a federal deficit nearly four times greater than ever in the history of the United States of $1.75 trillion. President Barack Obama projects a budget of nearly $3.6 trillion by the end of 2010. The deficit is the amount of federal spending that exceeds revenue.

Here is a synoposis of President Barack Obama's $3.6 trillion budget projected to 2010 in the areas of health, environment, poverty, defense and veterans affairs..

Health

$821.7 billion - Within this budget of Medicaid and Medicare spending is the creation of a 10-year $634 billion fund billed as a down payment on providing health care for all.

Environment

$10.5 billion

States fund to be used to improve sewage treatment plants and drinking water systems and to protect drinking water sources among other environmental programs.

Poor Neighborhoods

$47.5 billion

Hope for Homeowners program looks to get a increase from $225 million to nearly $1.4 billion next year which is one of the largest increase in domestic spending in the budget. The program helps families to refinance homes with lower payments. The other portion of the $47.5 billion will be allocated to HeadStart and other neighborhood programs for the poor.

Defense

$533.7 billion

War spending projection in addition to annual budget: $130 billion for 2010 and $75.5 billion for 2009. Some weapon systems may take big cuts as President Barack Obama's administration decides how existing programs fit into the budget.

Veterans

$52.5 billion

The Veterans Affairs budget proposal moving forward will be expanded to access non-disabled veterans whose income exceeds about $30,000 annually.

As wire reports from the U.S. Office of Management and Budget, by the last year of President Barack Obama's 2008-2012 presidential term, in the year 2013 fiscal year a deficit of $533 billion or 3 percent of the overall economy will exist. A $533 billion deficit by the year 2013 is a deficit level that economists consider sustainable.

February 26, 2009

$634 Billion Reserve Fund

President Barack Obama's plan in addition to the $787 Billion Stimulus Package that has become law, calls on building a $634 Billion Reserve Fund over the next decade to address health care system changes. A different feature of the $634 Billion Reserve Fund in one comparison with the $787 Billion Stimulus Package is the extended tax relief past the two year time frame. The tax credits are $400 for those making less than $75,000 and $800 for couples making less than $150,000. President Barack Obama would like to raise the tax credits to $500 and $1,000 respectively. The tax credit ignores those with income above $75,000 a year and for couples with incomes of more than $150,000. Also no benefit would go to individuals with more than $100,000 and couples with $200,000 in incomes. The tax credits will start showing up in the form of lower withholding for eligible workers beginning April 1, 2009.

President Barack Obama is working on a 10 year budget plan to roll back the Bush-era income tax reductions on households with income exceeding $250,000 a year. Some economists are saying that the move redistributes wealth by imposing a larger share of the tax burden on corporations and the most affluent tax payers. After recent years, the wealth has become more concentrated at the top 2% of the income scale. The "redistribution of wealth" issue strikes a cord with Republicans and puts a volatile edge to congressional debates about President Barack Obama short term and long term budgetary plans. President Barack Obama's arguement is that it is unfair for high-income people to get a bigger tax break than middle income people for claiming the same deductions or making the same charitable contributions.

February 25, 2009

Joint Session of Congress Address

President Barack Obama promised Tuesday night to lead the country to a brighter future asking for politicians and the American people to shoulder their responsibilities for hard choices and shared sacrifices. President Barack Obama stated adamantly: "The time to take charge of our future is here. While our economy may be weakened and our confident shaken through we are living through difficult and uncertain times, tonight I want every American to know this: We will rebuild, we will recover, and the United State of America will emerge stronger than before.

President Barack Obama stated that the $787 Billion Stimulus Package is an action that has already been taken to overhaul the American economy. President Barack Obama called on the House and the Senate to overhaul outdated regulations on the nation's financial markets in an effort to revamp the economic crisis.

President Barack Obama struck a cord of optimism in the economy inclusive of the $787 Billion Stimulus Package before the joint session of Congress on February 24, 2009 at 9:00 pm on national television. President Barack Obama stated that more money may be needed in additionto the recovery package to get the country out of the recession that it has been in since December of 2007. The joint session of Congress heard President Barack Obama speak these words about the state of the economy: "The only way this century will be another American century is if we confront at last the price of our dependence on oil and the high cost of health care, the schools that aren't preparing our children and the mountain of debt they stand to inherit. That is our responsibility."

February 24, 2009

Watch President Barack Obama tonight, February 24, 2009 as he goes before Congress and the nation to make his case for the government's budget plan which to White House will release in more detail on Thursday, February 26, 2009.

President Barack Obama's $787 Billion Stimulus Package is now being doled out to the nation's governnor for the use of their states. President Barack Obama has urged strict future restraint on spending. President Barack Obama has set a goal to cut the nation's annual budget deficit by 50 per cent. He promises to cut the deficit by the end of his four year term as President. President Barack Obama plans to reduce the nation's deficit by scaling down Iraq spending, raising taxes on the wealthiest and streamlining government. President Barack Obama related the $787 Billion Stimulus Package with the growing deficit by stating the following: "If we confront this crisis without also confronting the deficits that helped cause it, we risk sinking into another crisis down the road. We can not simply spend as we please and defer the consequences."

As President Barack Obama spoke to the National Governor's Association on Monday, February 23, 2009 he referenced President Bush's "clever accounting tricks" as a reason for the current economic crisis and purpose of the $787 Billion Stimulus Package. President Barack Obama stated that his administration inherited a 1.3 trillion deficit for the current year from the Bush Administration. By the end of this year, the deficit is expected to reach $1.5 trillion. The country spends $250 billion which is one in every 10 dollars of tax payer money in interest on the national debt.

President Barack Obama stated that the most important fiscal part of the $787 Billion Stimulus Package aside from the creation of 3.7 million job is the long term solvency of Social Security. President Barack Obama also said that the making over of the health care program is a fiscal challenge and is a top priority issue of his administration. President Barack Obama addressed the $787 Billion Stimulus Package which is an unprecedented emergency economic package at the three-day National Governor's Association meeting in Washington. President Barack Obama said that $15 billion of the $787 Billion Stimulus Package will began distribution within two days from the date of the meeting which was Monday, February 23, 2009. In total, the states will eventually receive $90 billion for Medicaid from the $787 Economic Stimulus Package.

The $787 Billion Stimulus Package has been called a gargantuan spending and tax cut measure designed to stop the country's free fall into a deeper recession that had workings during the Bush Administration and began surfacing in December of 2007.

February 23, 2009

Recovery Act Transparency and Accountability Board

President Barack Obama introduces a new addition to the $787 Billion Stimulus Package. (Additional monies to the $787 Billion Economic Stimulus Package is yet to be announced) President Barack Obama plans to introduce Earl Devaney as chairman of the new Recovery Act Transparency and Accountability Board. Mr. Devaney's job is to help expose lobbyists' corruption at the Interior Department as a way to overseer the $787 Billion Stimulus Package. Vice President Joe Biden will also be given a role coordinating oversight of the $787 Billion Stimulus Package.

The information was reported by Philip Elliott of the Associated Press and the government official with the information about the $787 Stimulus Package's addition spoke on the condition of anonymity. The White Houe has not made public the announcement to date.

Earl Devaney is presently the inspector general of the Interior Department and have experience turning lobbyist Jack Abramoff's dealing of corruption at the department. An Interior Department official pleaded guilty to charges that he had lied during a congressional testimony based in part on Devaney's investigation.

As to the Recovery Act Tansparency and Accountability Board, President Barack Obama has pledged the department to be an at-large body to oversee how the government spends billions allocated to help the economic crisis. The Recovery Act Transparency and Accountability Board will act as a central group to independently look over the funds allocations of the $787 Billion Stimulus Package. Vice President Biden's job in regards to the new department will be to meet regularly with the Cabinet members, governors and mayors to make sure that their efforts are quick and effective.

February 22, 2009

The $787 Economic Stimulus Package and Governors

Even before the $787 billion Economic Stimulus Plan was approved, the country's deficit was approaching 1.2 trillion or 8.3 per cent of the overall economy. President Barack Obama's Economic Stimulus Plan along with other expenses have some analyst saying the annual gap between federal spending and income could approach $2 trillion when the fiscal year ends in September. President Barack Obama plans to cut spending and raise taxes to offset the economic deficit. The withdrawal of troops in Iraq would save about $90 billion a year. President Barack Obama also proposes to tax the investment income of hedge fund and private equity partners. President Barack Obama also proposes "a fairly aggressive effort on tax enforcement" that would target tax havens and corporate loopholes among other provisions.

The nation's governors welcomed money from President Barack Obama's Economic Stimulus Plan but said that the plight of the economic condition of their states outweigh any federal monies received. The governors at the three-day National Governors Association in Washington focused on President Barack Obama's Economic Stimulus Plan downplaying Republicans criticism. Most of the governors stated that the recovery plan was a "handout" and that their states government is doing the heavy lifting with their state's economy. President Barack Obama's Economic Stimulus Plan will send billions to states for education, health care and transportation.

One governor, Gov. Bobby Jindal, a likely 2010 presidential contender, said that he will reject a portion of the money aimed at expanding state unemployment insurance. Another governor of Mississippi, Gov. Haley Barbour has said that he may reject money from President Barack Obama's Economic Stimulus's Plan as well.

Sarah Palin, the Republican party 2008 presidential nominee criticized the recovery plan as too big and wasteful. Florida's Republican govennor Charlie Crist, also a potential 2012 presidential contender, said that Republican's criticism of the recovery plan was not rooted in politics but that governors just have different perspective on how the law will impact their state.

February 21, 2009

The $787 Billion Economic Stimulus Package and its Effect

President Barack Obama's $787 Stimulus Economic Plan became law in less than a month of President Obama taking office and the American public will began to see the effects of the law by April 1, 2009. President Barack Obama had this to say about the swiftness in which the $787 Stimulus Economic Plan sailed through the House and the Senate: "Never before in our history has a tax cut taken effect faster or gone to so many hardworking Americans,"

President Barack Obama has stated that according to the United States Treasury Department the new tax law will cause an increase in the typical American family in about six weeks of approximately $65.00 a month. The $787 billion Economic Stimulus Plan is expected to create 3.7 million jobs and President Barack Obama is saying that this new law will help 95% of American families. Speaking before mayors across the country, President Barack Obama said the $400 tax credit for single people and the $800 tax credit for couples will be dealt out throughout the year. Beginning in the month of June, American workers will begin to received an additonal $13 a week on their paychecks and by 2010 the tax credits will be approximately $7.70 a week.

President Barack Obama's $787 billion Economic Stimulus Plan of tax cuts and federal spending is expected to jolt the economy out of its state of recession that it has been in since 2007. The recovery plan has been met with mixed anticipation. The cash infusion is aimed to help the economy with transportation budgets, engergy costs, health care, and education. The $787 billion Economic Stimulus Plan will increase unemployment benefits at about $25 a week and extend short term health care coverage.

Representative Dave Camp a Republican with the House Ways and Means Committee said that his party wants to help President Barack Obama with the economic crisis even though he does not think that the cure all is to spend and borrow back to prosperity. Rep Camp had this to say about President Barack Obama's $787 billion Stimulus Plan: " If he is serious about dealing with the tough issues and getting spending under control, his budget will show it."

February 20, 2009

How They Voted

President Barack Obama's Economic Stimulus Plan officially known as the Economic Recovery and Reinvestment Act was signed into law on February 17, 2009 with the following Democrats, Republicans and Independents voting the plan into law. Sixty votes were needed for the bill to sail through both the House and the Senate to be a law.

Congressional votes for the Economic Stimulus Plan

55 Democrats

3 Republicans

2 Independents

Congressional votes against the Economic Stimulus Plan

0 Democrats

38 Republicans

Congressional votes neither for the Economic Stimulus Plan nor against the recovery plan

1 No Vote from Massachusett

February 19, 2009

The $787 Billion Economic Stimulus Package and Governor's Response

Governors at the state level are having mixed feelings about accepting the share of President Barack Obama's $787 billion Economic Stimulus Plan. A few of them are contemplating refusing the money as a concern that economic commitments may come attached to their share of the recovery plan. This is a major repudiment by Texas Governor Rick Perry who initially balked at the bill and later decided to accept it stating: "We need the freedom to say , 'No thanks.'"

Political anaylst are saying that these governors are putting their own interests first while eyeing the Presidential bid in 2012. United States Representative from South Carolina, James Clyburn stated that: "No community or constituent should be denied recovery assistance due to their governor's political ideology or political aspirations." U.S. Rep. Clyburn anticipated a backlash to President Barack Obama's Economic Stimulus Plan and included legislation that governors can be overridden and lawmakers can accept the federal money even if the governors disagree with the recovery plan.

The underlying reasons for the governors' hesistancy in accepting President Barack Obama's Economic Stimulus Bill is the concerned that there may be strings attached to the federal money. Others disagree with a provision of the bill that allows states to pay unemployment benefits to people who under other circumstances would not meet the state's requirements to receive them. A few of the governors such as Governor C.L. "Butch" of Idaho, worry that federal dollars may disappear boosting state's cost in the future with the expansion of programs. The Republican Governors Association members are trying to figure out how much of President Barack Obama's Economic Stimulus Plan can be controlled by the governors.

A few Republicans like Governor Charlie Crist of Florida favors President Barack Obama Economic Stimulus Plan. Governor Sonny Perdue of Georgia has also embraced the recovery bill as his state faces a $2.6 billion deficit in next year's budget. Gov. Bob Riley of Alabama is already using President Barack Obama's Economic Stimulus Plan provisions in his state budget.

President Barack Obama $787 Billion Economic Stimulus Plan was signed into law February 17, 2009 in Denver, Colorado where he had accepted his nomination to run for the Presidency.

February 18, 2009

The $787 Billion Economic Stimulus Plan Signed Into Law

President Barack Obama signed into law February 17, 2009 the most sweeping economic overhaul the United States has experienced in decades, the $787 billion Economic Stimulus Plan. The recovery plan pumps an infusion of cash to jolt a weakened economy and the American consumer with the creation of 3.5 million jobs. The money will be pumped into infrastrusture projects, health care costs and technology, renewable energy development and conservation for the long term viability of the government's economy. The consumer can expect to receive a $400 tax break for most individuals and $800 for couples. The recovery plan also will help those who do not earn a substantial amount of income to receive a tax break. The latter part of the year, commencing in June of 2009, workers are expected to received an extra $13 a week less withheld from their pay checks.

Tens of billions of dollars will go to state aid to guard against layoffs. Incentives espounded by President Barack Obama's Economic Stimulus Plan wil give financial incentives to new home buyers and new car buyers. Also, the recovery plan will provide help for the poor and laid off workers with an increased unemployment benefits and food stamps as well as subsidies for health insurance.

Skepticism existed on Wall Street and from Republicans who except for three, opposed President Barack Obama's Economic Stimulus Plan. The Dow Jones Industrial Average dropped nearly 300 points Tuesday to about 3.8 per cent. Republicans denounced the recover plan as a waste of money and insisted that it will not turn the economy around. The Republicans in a bid of partisan cohesiveness stated that they all were "unified" in their disagreement with President Barack Obama's Economic Stimulus Plan.

President Barack Obama had this statement to say about the $787 billion Economic Stimulus Plan that he signed into law February 17, 2009.

"Now, I don't want to pretend that today marks the end of our economic problems, nor does it constitute all of what we're going to have to do to turn our economy around. But today does not 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; the beginning of what we need to do to provide relief for families worried they won't be able to pay next month's billis; the beginning of the first steps to set our economy on a firmer foundation, paving the way to long-term growth and prosperity."

February 17, 2009

President Barack Obama's Economic Stimulus Plan is expected to be signed into law, today February 17, 2009 in Denver, Colorado.

The recovery plan is "the most sweeping economic package in decades, a rescue plan meant to reinvigorate job creation, consumer spending and public optimism." reported the Associated Press.

Republican backlash has been profound with only three Republicans agreeing to endorse President Barack Obama's Economic Stimulus Plan. The Republicans are Ms. Snowe and Ms. Collins from Maine and Mr. Specter from Pennsylvania.

Republican Mike Pence of Indiana opposed President Barack Obama's Economic Stimulus Plan as "a long wish list of big government spending that won't work. It won't create jobs. It won't stimulate this economy. And it may do more harm than good." One of the eleven Deomcrats that opposed the recovery plan, Chris Van Hollen of Maryland, said "It is sending an entirely wrong signal to the American people to be banking on failure."

"Restrained spending, limited government and deep tax cuts" as cited in the Associated Press goes is the grain of GOP priniciples of governning and is not a component of President Barack Obama's Economic Stimulus Plan. President Barack Obama has courted the Republicans both personally and politcally in an effort the thwart the divide between the two parties. Pressident Barack Obama changed tax breaks for small businesses on the recovery plan with no additional Republican support.. Towards completion of President Barack Obama's Economic Stimulus Plan, he pushed toward ratification with or without Republican support.

President Barack Obama's plan to sign the bill today into law is sure to bring more outcries of opposition from the Republicans and from the few Democrats who opposed the Economic Stimulus Plan.

February 16, 2009

The $787 Billion Economic Stimulus Balance to "Strike the Right Balance"

So far the only forseeable revision of President Barack Obama's Economic Stimulus Plan will concern top executive bonuses. The Obama administration is looking to "strike the right balance" on the compensation of CEO's. Senior Obama adviser DAvid Axelrod said: "We all have the same goal. . . . And want to do something that's workable, and we'll work with them to get to that point."

Under President Barack Obama's Economic Stimulus Plan top executives of banks will be paid no more than $500,000 with bonuses only received from stock that can be claimed only after the federal bailout money had been repaid. Top executives can only get bonuses or incentives as restricted stock that vests only after bailout funds are repaid.

Representative Barney Frank, chairman of the House Financial Services Committee made a televised statement on CBS: "This is not an option. This is not, frankly, the Bush administration, where they're going to issue a signing statement and refuse to enforce it. Mr. Frank stated that "They will enforce it."

Senator Richard Shelby, the Republican on the Banking, Housing and Urban Affairs Committee said the the provisions concerning the capping of top executives' pay is needed to protect taxpayer's money.

President Barack Obama Economic Stimulus Bill will be signed into law on Tuesday, February 17, 2009 and may seek changes in the approach to executive pay after the bill becomes a law.

February 15, 2009

The $787 Billion Economic Stimulus Package its Prelude

President Barack Obama on his weekly radio and internet address stated the following: "I will sign this legislaion into law shortly, and we'll begin making the immediate investments necessary to put people back to work doing the work America needs done." President Barack Obama's Economic Stimulus Plan is expected to be signed into law on Tuesday, February 17, 2009 in Denver.

The recovery plan imposed new limits on the compensation of executives and could curve the multi-million dollar pay of Wall Street CEO's. The Economic Stimulus Plan limits bonuses for executives at financial institutions that are receiving bailouts from the government to no more than one third of their annual salaries or compensation. Their bonuses must be paid in company stock redeemable only after government investments have been repaid. This measure of the Economic Stimulus Plan seeks to appease public outcry of what President Barack Obama has called "shameful" the large payouts at Wall Street as taxpayers bail out the industry.

All of the 359 banks that have received government help have to set these limits in the stimulus bill as issued by the plan to top executives and their highest paid employees. Banking executives are concerned that the top traders will flee to hedge funds or foreign banks that have not accepted U.S. government aid. The White House capped executives' pay at $500,000 and allowed companies to award unlimited stock to institutions that receive government funds in the future and within limited circumstances.

The Economic Stimulus plan could diminish the take-home pay of such executives as Goldman Sachs Chief Executive Lloyd Blankfein who made $68.5 million in 2007. Almost $67.9 million of his pay was in bonuses and other incentives that would be subjective to the new rules of the Economic Stimulus Plan.

Financial analyst are saying the these executives may shift compensation to other pots and continue to receive these huge payouts that has so angered the American people and President Barack Obama.

President Barack Obama added toward the end of his radio and internet address, "This historic step won't be the end of what we do to turn our economy around, but rather the beginning."

The Stimulus Plan Agreement February 15, 2009

Tax Cuts

$280.8 billion

Discretionary Spending

$308.5 billion

$61.1 billion Transportation, housing/urban development

$53.6 billion State and local school grants

$50.8 billion Energy and water

$43.9 billion Education

$36.4 billion Other

$26.4 billion Agriculture

$25.8 billion Departments of Labor, Health and Human Services

$10.5 billion Environment

Direct Spending

$198 billion

$90 billion Medicaid

$57.3 billion Unemployment compensation/other programs

$25.1 billion COBRA

$20.8 billion Health Information Technology

$4.8 billion Other

Source: Congressional Budget Office

The Associated Press

February 14, 2009

Congress has passed President Barack Obama's Administration $787 billion Economic Stimulus Plan designed to cure the ails of a weakened economy and the worst economic crisis since the Great Depression. The final vote in the . the House was 246-183 of a recovery plan of tax cuts and federal spending. It was reported by wire reports that the Senate roll call extended throughout the night. The decisive vote in the Senate was 60-38. The voting process was delayed because Democratic Senator Sherrod had to leave for Ohio for personal reasons.

President Barack Obama stated that the bill will create 3.5 million jobs. Senator Harry Reid, Senate Majority Leader, said that the Economic Stimulus Plan will help people who have lost their jobs and "put food on the table of these families." President Barack Obama said that the 1,073 page legislative document marked "a major milestone on our road to recovery."

The Economic Stimulus Plan promises to help 95% of Americans with tax breaks of $400 for individuals and $800 for couples. People who do not earn enough for income tax payments will be eiligible for the tax breaks as well. This part of the recovery plan is to offett payroll taxes that they pay. There is more than $48 billion for transportation projects such as road and bridge construction and repair. A portion of the $48 billion will be ticketed for mass transit and high-speed rail. Tens of billions of the recovery plan is allocated for states to offset cuts they might otherwise have to make toward schools and local governments.

President Barack Obama's Economic Stimulus Plan provided billions of dollars of relief to victims of the economic recession through unemployment benefits, food stamps, medical care, job retraining and more.

Seventy four per cent of the $787 billion recovery package will be spent within the next eighteen months at a fairly rapid pace giving political analyst and pundits a look at whether the Economic Stimulus Plan succeeds.

February 13, 2009

The $790 Billion Economic Stimulus Plan and Controversy

The $790 billion Economic Stimulus Plan is going into overtime with lingering controversy over several programs: School modernization and scaled back tax breaks for businesses.

Last minute additions to President Barack Obama's Economic Stimulus Plan some of which was not a part of the recovery package surfaced during House and Senate discussions. One of these additions that constituted a last minute additon included a $3.2 billion tax break for General Motors to help the automobile giant to recoup losses and to claim refunds for taxes. GM is not itemized in the bill but there is a likelihood of its approved inclusions by Congress as written by David Espo and Julie Hirschfeld Davis of the Associated Press. Another last minute tax break of $1.6 billion that is being tossed around both the House and the Senate is to make it possible for businesses to buy back their own bad debt at a discount. President Barack Obama and Senator Majority Leader, Harry Reid added $8 billion to the Economic Stimulus Plan for the construction of high-speed rail lines.

Here are the components of the economic recovery package of President Barack Obama's Economic Stimulus Plan as of February 13, 2009.

Taxes

$116 billion for $400 per worker and $800 per couple o tax credits in 2009 and 2010. Workers can expect to see about $13 less withheld from their paychecks starting in June of 2009.

$70 billion to spare 24 million taxpayers from the Alternative Minimum Tax (AMT) in 2009.

$14 billion to expand tax credits for tuition to colleges and other college costs

$15 billion for $1,000 child-tax credit to familes who do not make enough to pay taxes

Health Care

$24.7 billion to provide a 65% susidy to the unemployed for healthcare premiums of those under the COBRA program

$86.6 billion for state help with Medicaid

$19 billion to upgrade health care information technology systems

$10 billion for health research and the construction of health facilities

Education

$44.5 billion to help local schools prevent layoffs and cutbacks with the the use of school modernization and repair.

$25.2 billion to fund special education programs and the No Child Left Behind law for students in K-12

$15.6 billion to maximize Pell Grants by $500 to $5,350

$2 billion for the Head Start Program

Aid to the Poor

$40 billion to provide extended unemployment benefits through December 31, 2009 with an increase of $25 per week

$20 billion for a 14% increase in food-stamp benefits

$4 billion for job training

$3 billion for temporary welfare payments

$14.2 billion for a one time payment to recipients of Social Security, poor people on Supplemental Security Income and to veterans receiving disability and pensions

Roads

$27.5 billion for bridge and highway construction and repair

$8.4 billion for mass transit

$8 billion for construction of high-speed rail lines

$1.3 billion for Amtrak

$4.6 billion for the Army Corps of Engineers

$4 billion for public- housing improvments

$6 billion for clean water and drinking water projects

$7.2 billion for broadband internet service to underserved and rural areas

$4.2 billion to repair and modernize Defense Department facilities

State Aid

$8.8 billion to help states defray their budget costs

The House announced their vote today however the Senate is expected to follow through with their decisions on these political issues later on today or over the week end.

February 12, 2009

The Economic Stimulus Plan and Congressional Approval

Senator Harry Reid, the Senate Majority Leader expressed his approval of President Barack Obama Economic Stimulus plan of a reduced $789 billion. This amount was earmarked by one of the three Republicans that agreed with the allocations and amount of the Stimulus Economic plan.

This is the final allocation of the recover package that is expected be signed as early as Friday of this week. President Barack Obama stated: "I'm grateful for members in the House and SEnate for moving it along with the urgency that this moment demands."

Tax Breaks

$115 billion for tax credits distributed with $400 per worker and $800 per couple between the years 2009 and 2010.

$70 billion to 24 million taxpayers to spare them from the alternative minimum tax (AMT) in 2009.

$13 billion for tuition to colleges

3.7 billion to aid first time buyers

Health Care

$21 billion to subsidize the umemployed with insurance premiums

$87 billion for Medicaid programs for states

$19 billion to upgrade Health Informaton Technology systems

$10 billion to research new federal health facilities and medical research

Education

$54 billion to fund construction of state schools

$26 billion to the No Child Left Behind law and for special education programs

$17 billion to help college students by boosting Pell Grants by $500 to $5,350.

$2 billion to the Head Start Program

Aid to the Poor

$40 billion to extend unemployment benefits

$20 billion for the food stamp program

$3 billion to temporary welfare

$14 billion for a $250 one-time payment to Social Security recipients, veterans receiving pension and disability payments and to the poor.

Roads

$27 billion for bridge and highway construction and repair

$8.4 billion to mass transit

$8 billion to high-speed railways construction

$1.3 billion to Amtrak

$4.6 billion to the Army Corps of Engineers

State Aid

$5 billion to state aid to use as they please to defray budget costs

These are stats as of February 12, 2009. Senate Majority Leader Harry Reid said: "Legislation is the art of compromise, consensul building and that what we did."

February 11, 2009

$838 Billion Economic Stimulus Plan Status

President Barack Obama's $838 Billion Economic Stimulus Plan as of February 11, 2009 sailed through Congress smoothly as expected riding on the coat tails of the three Republicans who helped to usher in its completion. Those three Republicans who crossed partisan lines are Olympia Snowe and Susan Colins of Maine and Arlen Specter of Pennsylvania. The other Republicans in Congress unanimously opposed it. President Barack Obama's Economic Stimulus bill was opposed by 11 Democrats. Now the task of the House and the Senate is to workout a final stimulus package to please Congress that could take a week or several weeks. The negotiations is involved around a $19 billion difference in the Senate package than the $819 billion House package. The Senate package has reduced federal spending and is cumbersome with tax breaks.

The break down of President Barack Obama's Economic Stimulus Plan is as follows:

Spending

Senate - $39 Billion in education aid to the states

House - $54 billion in education aid to the states. $25 billion block of money for state use toward other programs

Senate - $17 billion for one time use of $300 to recipients of Social Security

House - $4 billion one time use of $450 SSI payments to the poor and disabled. $630 one time use payment to married couples

Senate - $0 school construction

House $19.5 billion to build and repair school and university facilities

Taxes

Senate - $70 billion to "patch" the Alternative minimum tax (AMT)

House - $0 AMT not included as in House appropriations

Senate - $35.5 billion for a $15,000 tax credit for home purchasers

House - $2.6 billion and limits it $7,500 credit to first-time home buyers for homes purchased between January 1, 2009 and July 1, 2009.

Senate - $11 billion for interest loan payments of new cars

House $0 towards car buyers tax deductions.

February 10, 2009

President Barack Obama Address to the Nation

Last night at 8:00 p.m. on February 9, 2009, on national television President Obama spoke for 58 minutes and answered 13 questions about the Economic Recovery and Reinvestmen Plan also called the Economic Stimulus Package. Monday, February 8, the $838 billion passed as a revised version in the Senate with a 61-36 margin, with the opposition of all but three Republican Senators.

The major focus of the news conference was President Barack Obama to continue the transparency approach to government with an informational session with the American people about the economic recovery package. It was apparent to the viewers and the news reporters present that President Barack Obama was a bit disturbed about the Republicans basically calling the stiumulus package a "pork barrel spending bill that will not create jobs." President Barack Obama had visited Elkhart, Indiana where the unemployment rate is well above 10%. He quite transparently mentioned a school that was built there in the 1850's that was in dire need of structural improvements. The school was located near the railroad tracks and each time a train went by the teacher had to stop teaching because of the inefficient acoustics in the building. President Barack Obama says that educatonal spending is not considered "pork spending" in the light of this scenario and other schools needing improvement. When it comes to being an important part of the Economic Recovery and Reinvestment Plan, President Barack Obama states that spending is what a stimulus bill is supposed to do to put a "jolt" back into the economy.

A few of the questions were directed at the banks' bailout from toxic investments that President Barack Obama referred to todays scheduled news conference with his Treasury Secretary, Timothy Geithner. Two of the questions from the news reporter were off topic with the questioning of whether President Bush should be procecuted for leaving the economy in such shambles. Another question that was off topic asked President Barack Obama his opinion about the use of steriods in athletes. One reporter asked how did President Barack Obama plan to combat the obvious Republican opposition to his policy making if he is having such a problem with an easy issue like the recovery package. President Barack Obama answered that he had crossed party lines with the appointment of Republicans and that "over time, hopefully that will be reciprocated." President Barack Obama stated: "So my bottom line when it comes to the recovery package is: Send me a bill that creates or saves 4 million jobs."

Congressional Democrats are rushing to make sure that President Barack Obama's Economic Stimulus bill reaches the White House by Monday. The Senate bill does not include $19 billion construction for schools but added nearly $70 billion to prevent millions of families from having to pay the alternative minimum tax in 2009. President Barack Obama's retort to the Republicans who called the recovery package a "bloated wasteful spending bill" was the following: "At this particular moment, with the private sector so wakened by this recession, the federal government is the only entity left with the resources to jolt our economy back to life"

February 9, 2009

President Barack obama Economic Fiscal Stimulus Plan Press Conference

President Barack Obama will hold a news conference tonight, February 9, 2009 at 8:00 p.m. At that time President Barack Obama will talk to the American people about the state of the Economic Fiscal Stimulus Plan.

The House and Senate are scheduled for recess next week but have vowed to complete the recovery plan. President Obama recovery plan is to create jobs, save jobs, and to unfreeze credit markets. The discrepancy of $7 billion dollars will have to be reconciled between the House and the Senate before moving forward with the bill with an expectant signature date of February 16, 2009. President Barack Obama is scheduled to visit Elkhart, Indiana and Fort Myers, Florida today and on Tuesday, February 10, respectively. These cities were selected because though the national unemployment rate is 7.6%, the unemployment rate of the places President Obama will visit has reached almost 10%. Lawrence Summers, President Barack Obama top economic adviser, stated that the major struggle for the recovery plan is the fact that "There are crucial areas, support for higher education, that are things that are in the House bill that are very, very important to the president. Also, President Barack Obama has promised to create 4 million jobs. Nearly 600,000 additional unemployed Americans were added to the unemployment roles just last week.

February 8, 2009

The Economic Fiscal Stimulus Plan and Republican Support

From reports just in on February 8, 2009, the Economic Fiscal Stimulus Plan of the President Barack Obama's administration has lost billions of dollars when the Republicans snubbed funding alloted to housing, schools,and education programs. Now the plan that had ballooned up to $937 billion has been reduced to $827 billion to the satisfaction of the Republicans. The new $827 billion new stimulus bill that is expected to sail through the House on Monday, February 9, 2009 dissappointed most of the Democrats because some of these issues had help to win the Presidency of their Deomcratic candidate Barack Obama. President Barack Obama response to the modifications of the recovery bill was that it would be useless tohave the bill go unsigned and to have it lifeless on the table. He reminded the Republicans that the Democrats had won the November victories. President Barack Obama also said that "We can't afford to make perfect the enemy of the absolute necessary." Upon his return from the Camp David retreat, he is expected to sign the measure.

The compromised package was reached by Republicans Susan Collins and Allen Specter of Pennsylvania. They compromised $108 billion in spending and $40 billion in aid to state government and programs for education. With the Republicans' reduction of the bill, they went against the economist who said that educations bills usually prevents layoff, cuts in services or tax increases.

The good news about President Barack Obama recovery plan is that the core of the plan remained in tack. Although $20 billion for construction and building repairs of schools and universities were cut from the plan, the bill retained its goal of combining hundreds of billions of dollars in spending to boost the economy with tax cuts. The tax cuts were designed to increase consumer spending and jumpstart the economy. The $15,000 tax credit for home buyers purchasing $150,000 homes remained in the bill as well as the $1000 tax cut for working couples. Also retained in the recovery plan is a small tax break for Americans buying new cars.

The $827 billion financial rescue package is expected to boost financial credit markets for consumers and businesses. The package sustained unemployment benefits by increasing the unemployment insurance by $25 a week. The bill also called for an increase in food stamp payments.

February 7, 2009

Modifications of the Stimulus Plan

Just reported from NPR February 7, 2009 that Congress has reduced the Fiscal Stimulus Plan by 110 billion dollars after reviewing the plan for unnecessary spending. Congress had argued that the Simulus Plan had too much spending involved in its workings. President Obama reply was that the purpose of the Fiscal Stimulus Plan was to get Americans back to spending to jumpstart the economy. President Barack Obama is going on a campaign like trail of several states to gain public state support of the new Economic Fiscal Stimulus Plan that was compromised in an overnight session of Congress on February 6, 2009.

The week of February 4, 2009 President Obama announced an increase of the $900 billion Ecomonic Stimulus Plan to $920 billion. The increase of $20 billion is caused by a bill that was passed giving Americans who purchase homes worth at least $150,000 a $15,000 tax credit to stimulate the housing market. The housing market has been credited somewhat to the economic crisis facing America today. If Americans purchase a house for less that $150,000, they will be given 10% credit towards the value of the house. A major health plan of $4 million was added to the economic stimulus plan also for 11 million children needing health care in America. The health plan has been on the floor of Congress and President Obama pushed for the passing of the plan immediately. Also, concerning the $18 billion of bonus awarded to CEO's on Wall Street, President Obama has capped their yearly salaries at $500,000. President Obama's Economic Stimulus Plan is now called the Economic Fiscall Stimulus Plan.

The economic condition forecast under President Barack Obama’s administration will result with finance equities up at year’s end. The capital gains will substantially increase because of the recover forces of the economy. Stocks will be in tune with the upward trends of the economy.

The nation’s economy will experience growth as a reaction to the economic stimulus plan. The economy of recession that has plagued America will subside. Similar countries in Europe, Japan and China in the same economic condition as America is in now, will help to put a jolt back into the economy. Ronald Reagan once stated that “Government is not the solution to our problem, government is the problem.” With the country’s noticeable increasing political control over major UnitedState businesses (U.S. Automobile Industry) and the economy since the Reagan administration, President Barack Obama differentiates in his economic policies with the role of government. Just as recent as January of 2009, President Obama stated that the CEO's of Wall Street were “shameful” for paying themselves over $1 billion in bonuses. Bonuses are financial gifts or incentives that recognize CEO’s work contributions as worthy of extra pay over and above their substantial salaries. These salaries afford these top executives the luxury and convenience of traveling on private jets and other extras. Some business critics have stated that these bonuses are needed to keep talented executives up on their game. President Barack Obama disagreed wholeheartedly publicly with the assessment of “shameful” in reaction to the extravagant bonuses. He acknowledged that at the same time these bonuses were being distributed over 100,000 unemployed workers were added to the unemployment lines.

Microsoft let go of 5,000 workers though their infrastructure is in tact with the business worth well over $23 billion. FedEx, Star Bucks and Yahoo also added to the ranks of the unemployed with layoffs. Fledging CircuitCity finally closed its doors causing a wipeout of employment opportunities.

What is causing the upbeat economic forecast of President Barack Obama’s administration? Is the forecast up beat because that is just the name of the game in economics? Sooner or later there is an upswing in the nation’s economy. Was it inevitable that the break through of recovery would eventually happen toward year’s end?

Let’s take a closer look at President Barack Obama’s and his administration’s role as government distributor of policies and commander of the Obama economic plan. What is President Obama’s economic plan? President Barack Obama calls for a $300 billion tax cut of which the bulk would be distributed as refundable tax credits. Some Americans will actually receive money even if they paid no federal taxes. President Obama's stimulus plan would put some of the control of money in individual’s hands instead in the red tape of beau racy. President Barack Obama’s economic plan will be attuned to the rebates the government shelled out previously. These rebates that were supposed to get Americans spending again resulted in them paying off bills or trying to save. It is hoped that in the new spirit of change and service to country, all Americans will use any refundable tax credits to help stimulate the economy. Another part of the President’s economic plan is to boost small businesses with a $250,000 capital expenditure. Although economics agree that giving people money is not the way to long term economic growth, President Barack Obama and most American people are optimistic about his economic plan. President Obama’s approval rating was way up to 62% for the first week in office, the highest rating since 1981 of a new seated President.

To sum up President Obama’s economic plan, he hopes to motivate Americans to work more productively because of the new tax rates and incentives. The economic plan encourages entrepreneurs to embark on new business ventures and because of the increase in capital expenditures, businesses should experience renewed sustainability.