America’s economic stimulus package in final heat
America’s ailing economy is in need of quick aid, a true payday loan that will help bridge the way. Unfortunately, for as much as President Obama has been encouraging quick action to get a stimulus package passed, we may not see real change for some time. Many even argue that the stimulus package does not take the optimal path toward healing and reform.
However, the package moves forward. According to a breaking BBC News report, “the Democratic-controlled Senate voted 61-37 to approve the measure, with few Republicans opting to back it.” According to reports, the economic stimulus plan that the U.S. Senate has passed will cost somewhere in the neighborhood of $838 billion.
Interestingly, Vice President Biden has been widely quoted as saying that there is a “30 percent chance” that this stimulus package will not work. Many pundits consider that estimate to be conservative.
What’s next?
Next, a number of things must happen. First of all, it is expected that the Senate-passed version will enter into negotiations so that it can be “reconciled” with the legislation that has already passed the House of Representatives two weeks ago. After that, it will cross President Obama’s desk for the final sign-off. His signature could mean the cash advance that the Dow Jones has been waiting for. Watch those indexes…
President Obama has said the package will “create up to four million jobs and help lift the economy.” He expects the final House/Senate package to reach his desk by February 16.
Moving forward
The House and Senate measures are reported to be “largely similar.” Differences that will go up for debate include how lawmakers are going to expand the Medicaid and other various spending priorities. In the House version of the bill, greater resources are allocated to schools, local governments and individual states. On the other side of the coin, the Senate bill focuses more on tax cuts.
Whatever happens, this stimulus package will at the very least bring hope to many. It is the hope of Cash Advance Mojo and everyone at your payday loan source, that the stimulus package and other bailout money is used to fix the broken economic system, rather than trying to merely plug a hole with money.
Related articles
- Congress Talks Stimulus Amid Obama Push (abcnews.go.com)
- Obama aide urges stimulus haste (news.bbc.co.uk)
- Stimulus Compromise Reached in Senate (takepart.com)
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It’s great that it finally passed. There are a lot of programs that I would have liked to see go through, but they got trimmed because the measures should have been part of another bill. That said, I hope this does the trick, and hopefully we can start seeing some returns on it within the next year or so – and we need to get a lot of people back to work.