Obama to sign $787 billion stimulus bill Tuesday

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Obama to sign $787 billion stimulus bill Tuesday

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WASHINGTON – Savoring his first big victory in Congress, President Barack Obama on Saturday celebrated the newly passed $787 billion economic stimulus bill as a "major milestone on our road to recovery."

Speaking in his weekly radio and Internet address, Obama said, "I will sign this legislation into law shortly, and we''ll begin making the immediate investments necessary to put people back to work doing the work America needs done."

Added on: Thu Feb 19, 2009 11:14 am by : RupertWBradson

anonymous 12
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	Yeah, can we say that its the much awaited change for which the America has chosen its new President? Hopefully it would restore the economy back to its track

lone_mom
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	I'm a victim of the recent job crunch. The only thing I need is to get back my job so that I can feed my kids and keep the roof above out head, but I'm yet to see the benefits. I know it'd not fall into my lap but I'm atleast keeping my hopes alive.

fireyone
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	I believe we need something to get us back on track so if this does help thats fine. I can not see letting our auto indusrties go overseas or failing because of the job losses and such. I just really feel the first money given out should have been accounted for alot better. You have those companies that used it for employee bonuses and day spas. One was even coaught using the company money to have prostitutes come to a hotel room....all out of money that was intended to get America back on track. I think of how many people lost their homes or could not afford heating fuel this winter and wonder why more of our taxpayer money did not go into the taxpayer themselves.

Milfordct
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Location: Milford CT

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	It is necessary to prohibit for the American companies to create the enterprises abroad, depriving millions Americans of work places. Foreign investments, for example to China, many times over exceed investments in the USA. According to statistics, for last year the companies of the USA have enclosed direct investments to China at a rate of 3,6 billion dollars. Practically from 400 largest American corporations huge assets in China have all. For 1999-2008 annual trade deficit of the USA with China has grown almost four times, from 68,7 trillion dollars to 266,3 trillion dollars. In other words, the USA have redirected money from production of the useful goods on domestic consumption and export to import the various goods from abroad, first of all from China. One more problem -- it is artificial the underestimated yuan exchange rate. The yuan exchange rate which is rigidly adhered to a dollar exchange rate is underestimated on 25-45 %. It encourages the Chinese export to the USA and is negatively reflected in the American export to China. If in 1992 on a share of China it was necessary 3 % of world trade in 2020 it will exceed 9.8 %. China will yield only the USA, and can and will overtake the USA.

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