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ISSUES • ECONOMY

 

ECONOMY


There goes another $787 billion

In February 2009, President Obama signed the $787 billion American Recovery and Reinvestment Act into law. Thanks to the meddling of the House and Senate, what started off as an ambitious job producing, infrastructure building, economic powerhouse pretty much turned into another big 'ol tax cut - - just what our enormous deficit needs right now. Luckily, two thirds of the money will still go towards the original goal, which is why the Republicans failed to vote for it.

Fixing the lousy economy inherited from the previous administration won't be cheap. This year's deficit is now on track to soar to a record $1.85 trillion. That's a number that keeps even President Obama up at night. Hence his promise to the American people: To cut the deficit in half by the end of his first term.

In April 2009 alone, President Obama asked his Cabinet to find $100 million in savings from their agencies' budgets. That amount represents one-twentieth of 1 percent of the federal deficit for the month of March. We're off to a start!

Ordinary Americans can help President Obama reach his goal by making a purchase at the Obama Store or placing a bid at oBay. It's time to start spending again America!

CONSUMER STIMULUS SPENDING PROGRAM

The Bureau of Engraving and Printing has created a secure money-printing application which is available to interested citizens on an as-needed basis. Citizens are encouraged to visit the Bureau of Engraving and Printing website to take advantage of this program and to help stimulate the economy.

 

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