PopSugar

News Flash: Bush Signed Economic Stimulus Package

SavvySugar — Thu, 14 Feb 2008 04:03:20 -0800

While the idea of an economic stimulus package was introduced last month, the bill was just given the final sign-off yesterday by President Bush. He's calling the $168 billion package a "booster shot for our economy" and the bill includes rebates for individuals and tax breaks for businesses to promote spending by all. The checks will start going out in May but you have to file your 2007 tax return before you get the check. After you've filed your taxes there's nothing else you need to do to get your check, and if you receive your tax return through direct deposit than you'll get your rebate the same way. Now that we know the rebates are a sure thing, I'd like to know how you'll put yours to use - spend, save, pay off bills or invest?

Source

News Flash: A Rebate Check May Be on Its Way

SavvySugar — Mon, 21 Jan 2008 09:20:01 -0800

President Bush is pushing an economic stimulus package sized from $140 billion to $150 billion, which may mean a rebate check will be headed for your mailbox. The White House is considering rebates of up to $800 for individuals and $1,600 for married couples. A similar package was rolled out in 2001 and checks were issued in sums of $300 or $600. Surprisingly, most people spent their checks instead of saving or using the money to pay off credit and that's what the White House is hoping for this time around, too.

Source

Would You Prefer If Rebate Checks Never Existed?

SavvySugar — Wed, 05 Mar 2008 08:27:31 -0800

You all have had mixed feelings about the tax rebate check that's part of the $168 billion economic stimulus package. Many of you will be receiving the check this summer, but you've also shared your disbelief that the rebate checks will actually stimulate the economy enough to make a difference. In fact, some of you think it's going to do more harm than good. On top of that, many of you have said that all of this rebate talk makes your head spin. I'm left wondering if you'd rather not get the check at all, or if your feelings of uncertainty and confusion take a back seat to the fact that you'll be getting some extra cash.

Source

Headline: President Bush Backs Economic Stimulus Package

CitizenSugar — Fri, 18 Jan 2008 10:03:56 -0800

In a speech from the White House this morning, President Bush proposed $145 billion in tax relief. According to insiders, individuals might receive rebates of $800 and families, $1600. This proposal follows Federal Reserve Board Chairman Ben Bernanke's testimony yesterday, calling for temporary measures to stimulate the economy. Bush echoed the chairman's sentiments saying that the relief should be temporary, but take effect right away. Aiming to bolster both business expansion and consumer spending, Bush said, "this growth package must be big enough to make a difference in an economy as large and dynamic as ours, which means it should be about 1 percent of GDP."
Source

Check This: How Many Flat Screens Will the Stimulus Buy?

CitizenSugar — Thu, 24 Jan 2008 16:02:02 -0800

Repeating ad nauseam that the $150 billion economic stimulus package was aimed at "middle income" Americans, Congress and Secretary Paulson announced their proposed stimulus package this morning.

Pelosi said it was created to "strengthen the middle class, create jobs, and turn the economy around." To do this, Pelosi said, "we need to get the money to those who will spend it immediately." That's what concerns me.

They've decided they're cutting checks, willing to further disrupt our wildly unbalanced budget, for what seems like a band-aid, and a teeny-tiny one at that. Though no official promises have been made yet, the amounts of dough distributed are said to be between $300 and $600 for individual filers and up $1600 for families. Granted, it's more than $1.95, but they're gambling on human nature. To find out how, read more.

They're gambling that if an American knows he's getting $600 bucks in the mail, he'll probably go out today and put a $1000 TV on a credit card, promising that he'll use his rebate to pay it down but probably adding to his mounting personal debt that will make it all the more disastrous if he loses his job. They're gambling that a family won't snatch that thousand bucks and use it to pay a portion of their precarious mortgage, only to be in the exact same state in a month. But is the gamble worth it?

Representative Jeb Hensarling of Texas said, “if you’re going to have an economic stimulus package, it ought to contain some economic stimulus.” So, it seems like a huge national price to pay for relatively meaningless personal gain. Is the rebate worth it to you? Will Congress's gamble work? That is to say, have you already spent yours and then some?

Source

Obama Spells Out the State of the Economy With Confidence

CitizenSugar — Tue, 24 Feb 2009 18:45:08 -0800

Tonight Barack Obama addressed a joint session of Congress and an even more important audience - the American people. Since it was technically not a "state of the union" address, I think it's safe to call the speech the "state of the economy" address.

Hoping to turn the page on tough economic times, the president read the country a litany of reasons for the crisis. Gutted regulations, irresponsible home purchases, predatory lending, tax cuts to the wealthy, and a lack of investment in America's future have brought us all to a day of reckoning, he said.

After laying the blame, Obama explained his plan. Making it hard to believe he's only been in office for a month, Obama touted the specifics of the aggressive stimulus package. The president played professor for a bit too, spelling out why it's important to keep credit flowing and help banks. "It's not about helping banks, it's about helping people," he said frankly.

Perhaps most crucially, Obama called out the "neighbor down the street who bought a house he could never hope to afford." Assuring skeptics, Obama said his housing plan won't bail out that irresponsible person, but it will help responsible Americans maintain the value of or refinance their homes.

Obama also took time to discuss his upcoming budget.

For the budget details, and for more photos, read more.

His priorities? Energy, health care, and education. His voice filled with emotion when he asserted that health care reform will not wait another year.

Touching on foreign policy, Obama broke sharply from the man who last spoke to a joint session of Congress. He reannounced the closing of Guantanamo Bay prison and proclaimed that "America does not torture."

While speaking of dire troubles, Obama exuded energy and optimism. Regardless of the merit of his policies, Obama performed like a true leader tonight. You can read the full text here.

View 10 Photos ›

Source

Second Round of Rebate Checks?

SavvySugar — Thu, 17 Jul 2008 11:01:13 -0700

Much to nobody's surprise, the rebate checks issued as part of this year's economic stimulus package haven't done enough to boost our economy thus far. In fact, economists are wondering if another round would prevent our economy from falling apart entirely. Strong words? Yep, but there are too many people losing their homes and suffering from job losses to ignore the big pickle that is our economy.

Democratic leaders have initiated the idea of a second stimulus package that would include spending for roads, bridges, schools, and other public facilities. The possibility is being discussed, and while President Bush admits that growth had been “slower than we would have liked,” he also wants to let the first package "run its course" and reassures that he "is an optimist."

Expect more debates surrounding the issue throughout the Summer and then some. If another plan including additional rebate checks does come into play, let's hope they hold off from releasing inaccurate schedules and from sending expensive letters regarding the issue.

Source

Front Page: US Sheds 598,000 Jobs in January

CitizenSugar — Fri, 06 Feb 2009 08:00:44 -0800

The US unemployment rate jumped to 7.6 percent, after 598,000 jobs were lost in January. - New York Times
The Senate worked into the night Thursday but failed to vote on the stimulus package. - CNN
President Obama will name a panel of independent economic advisers that will offer their outside advice to the White House. - Reuters

RNC Chairman Michael Steele has asked the entire RNC staff to resign, but some of the 100 staffers will get their jobs back after an extensive review. - Huffington Post
USA Swimming has suspended Michael Phelps for three months, due to a photo of him smoking marijuana. - USA Today

Source

Do You Support the Stimulus Bill?

LibertySugar — Wed, 28 Jan 2009 00:01:14 -0800

President Obama paid a visit to House and Senate Republicans yesterday, trying to shore up support for the $825 billion economic stimulus bill. While the GOP has continued to express concern about the size of the package and a desire for more tax cuts, the President has shown a willingness to adapt, urging Democrats to cut $200 million for family planning.

Obama maintains that the American Recovery and Reinvestment Plan, which includes $550 billion in spending and $275 billion in tax cuts, will jump-start the economy while also investing in strategic long-term goals. However, some of the infrastructure spending will not happen until 2010. Major provisions include:

Create or save 3 to 4 million jobs in two years.
Spend at least 75 percent of the money within 18 months, including funds for tax cuts, health care for unemployed workers, temporary expansions of unemployment insurance and food stamps.
Computerize every American's health record within five years, which will save billions in costs and reduce medical errors.
Upgrade 10,000 schools, improving the learning environment for 5 million children.
Invest in roads, bridges, mass transit systems.

Source

Front Page: Obamas Settle in DC as the Girls Start School

CitizenSugar — Mon, 05 Jan 2009 08:01:04 -0800

Michelle Obama walked her daughters alongside full security detail to their first day at Sidwell Friends School in Bethesda, MD, this morning, making the family's move to DC official. - AP
Residents in Gaza are saying they doubt rocket fire can be stopped. Thousands of Israeli troops battled Hamas fighters Sunday while Israeli warplanes, helicopters, and drones bombarded targets from above for the 10th day. - Washington Post
Barack Obama hopes to drum up support from both political parties by proposing up to $310 billion in tax cuts for businesses and the middle class as part of his massive economic stimulus package. - Reuters

A new US embassy in Baghdad has opened its doors with a dedication ceremony attended by the Iraqi president. - BBC
Gunmen hit Athens riot police with automatic weapons fire early this morning, wounding a policeman in an escalation of violence that erupted last month when a teenager was killed in a police shooting. - Wall Street Journal

Source