On Tuesday President Barack Obama signed the massive $787 billion stimulus package to help the nations economy. It was a battle the president fought for over the past month that he was finally able to get to go his way. It wasn’t exactly the bipartisan effort he wanted, seeing that only three republican senators sided with him and none in the House, but yet Tuesday he was signing it into law. In this stimulus package you hear a lot about five specific areas. Education, infrastructure, healthcare, jobs, and you. Yes, you. Technically, it’s called the American Recovery and Reinvestment Act of 2009. So are Americans really being recovered? Or who exactly is being reinvested in? Well there’s $787 billion on the table here, and many of us have the same question, “what’s in it for me?” Well I’m not one to tell you what you’re getting out of this, your best bet to do your own research or contact your local congressman, but if anything for my own sake, let me give it a shot.
The one thing that most of us want to know is what are we to expect from this? As it, “where’s my money.” If the previous plan by President Bush did anything, it laid that part out for the average person. People want their money, especially at a time like this. So the bad news is, we’re not getting a check addressed directly to us for several hundred dollars. But the good news is, we’re still getting something back one way or another. The way it works out is that it starts in your own weekly paycheck. The usually amount of taxes will be taken out, save about $15. That’s $15 of your money you get to keep. Grab your calculator, it adds up.
Now that you’re in a good mood, I know what you’re thinking, “cool, so what else do I get?” Indeed, there is more…that is if you’re a first time home buyer or a first time car buyer. Both of those industries have been hit hard recently, so this bill gives us back some when we give back. If you haven’t bought a house before and are looking to do so, there’s tax breaks in there just for you. If this is your first car you’re buy, there’s tax breaks for you too.
But there’s also many other area’s this bill covers that indirectly affects you. I’m sure that if you live in America then you’ve heard that schools are in trouble. State budget cuts are eliminating thousands of teaching jobs. Part of the $787 billion is to help prevent that from happening. It’s also going to help improve highways, roads, and bridges that we drive on every day. There’s also money for the healthcare of those who don’t have a job, or perhaps losing their job. All in all, this stimulus package is about 60 to 30 percent on spending versus tax cuts, both of which is severely needed.
Not for nothin’, but this isn’t going to work overnight. In fact you have many people who believe that it isn’t going to work at all. But for the sake of putting it in more simpler terms…if the next Spiderman movie or the newest Captain America movie (both scheduled for a May 2011 release) come to theaters, and you don’t feel comfortable paying money to see them because times are hard, then we’ll still be in trouble and it may be time for a new attempt at a stimulus. But by then many of us would be convinced that they don’t work.
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