Follow Barack Obama prior and during his tenure as the 44th President of the United States. Read about my personal observations along with every day facts as they happen. This blog will only submit factual information about the first black President, now in his 2nd term of office.


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The Stimulus Bill - Almost Too Late

Thursday, February 12, 2009

Well now it is a matter of time. It appears as reported by CNN in Washington that the Congress worked out and agreement to fund education in the economic stimulus bill. This means passage of the bill is now imminent.
Even after to compromised bill was announced on Wednesday, House Speaker Nancy Pelosi met with Senate Majority Leader Harry Reid.
So what was Congress bickering about. It turns out that the Senate cut out an original provision of Education, which was one of the priorities of the Democrats. Once the Democrats and Republicans finally found a compromise and education now will not be left out. Now it looks like the earliest that President Obama could sign the bill would be on Monday the 16th of February.
This may seem to be a victory for the Democrats, but the figures still show that the Republicans and Democrats are still very polarized against each other. The bill only now will pass because it only took 3 republicans to back the bill, out of a total of 219 republicans in Congress. Republicans would tell you that Obama is lucky. It only took 3 to cross the isle, and will barely get the stimulus bill by.
It is unfortunate that it has taken this long to get through. Not that I'm for more government spending, but every day that goes by without the stimulus is another day that it will take to finally take hold. Thousands of people are loosing their jobs every day. In the previous month of January 2009, approximately 600,000 people lost work. The markets continue to plunge, and the economic recovery plan presented as it is now has so many deficits because of all of the bickering between the Democrats and Republicans, that it will be interesting to see how much this present bailout plan will help. All we can do now is sit back and watch. This economic condition is unprecedented in modern time. With modernization especially with computers, you should have been able to see this situation coming, and unfortunately, the economists most likely did see it coming, but information from them may have fell on deaf ears.
If you are one of the lucky ones to keep their job through all of this, it looks like the majority of people still working say that it looks like they will not be able to quit soon, or take an early retirement, mainly because of their savings being lost, due to the market or poor spending habits. Nevertheless, all we can do now is see if the economy will recover.


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