Why are you eating pre-packaged meals? Here’s what you need to know about the stimulus package
By JIM HURTMANAUSAPAPAPA/Associated PressA package of economic stimulus measures to bolster the U.S. economy and cut federal spending was signed into law by President Barack Obama on Tuesday night, but many Americans will be missing out on one of the most consequential spending programs in modern times.
The stimulus package was signed by the president just after 11:30 p.m.
The package is expected to provide billions of dollars to help the economy recover from the recession that began in 2009 and that has left tens of millions of Americans out of work and struggling to find a new job.
The stimulus package also includes tax cuts, more spending cuts and other measures to help businesses, consumers and the unemployed.
In addition, the measure will provide $1.5 trillion to the federal government to help create jobs through a variety of programs, including an $8 billion loan to help states ease the burden of unemployment.
But the package was overshadowed by the presidential race, which included the release of a video that depicted Republican candidate Mitt Romney as a serial liar who is out to destroy the U:A CNN analysis of the video, published online and in print, showed that it did not accurately portray Romney as someone who believes in helping the poor.
CNN also found that the video also did not include a statement from Romney’s campaign that the president would not be seeking a $1 trillion stimulus package.
The first lady and the president spoke by phone Tuesday evening and are expected to have a joint news conference in the coming days, a White House official said.
Aides say Obama is expected on Wednesday to sign the second installment of the stimulus, a package to help expand access to health care for veterans.
The second stimulus package is also expected to address the debt crisis, boost the economy and help make America more competitive, the White House said.
The president has promised that any stimulus measure will help bring down the deficit.
Obama’s administration announced that it would spend $800 billion over 10 years to help families struggling to make ends meet with a $250 billion stimulus package for food stamps and $300 billion for other food stamps.
It also pledged to create 500,000 new jobs for the working poor.
The White House also pledged $1 billion for new job training and a $500 million expansion of the American Jobs Corps.
The Obama administration announced plans for a second round of spending for veterans and veterans’ groups, a second-round aid program for victims of the Ebola outbreak and a new health care program.
The $1,000 stimulus credit was the largest stimulus package to be signed by a U.N. leader, and the $1 million credit was given to families struggling with student loan debt and the uninsured.
But some critics say the stimulus bill was a failure.
The White House has not said how many Americans are likely to be hurt by the lack of the aid, or if any money will be available for families that will need help in the future.
The House passed the stimulus legislation on Wednesday and the Senate has yet to take up the legislation.
It was the second time Congress has voted on a stimulus package but it is still not certain how much money will ultimately be available to help those affected by the pandemic.
The bill would also include $1billion to provide emergency financial relief for victims and victims’ families.
The American Recovery and Reinvestment Act would provide $800 million to help state and local governments reduce their debt burden and other spending and $400 million to provide aid to veterans.
In a sign of how quickly Congress was moving to approve the stimulus packages, the House passed a resolution Wednesday urging Obama to sign it.
The measure was passed by a vote of 205-205.
House Speaker Nancy Pelosi said it showed the House was “committed to ensuring a smooth and orderly rollout of the measures.”
The stimulus packages would be the first significant economic stimulus programs since the Great Recession ended nearly a decade ago.
Obama is the first sitting president to sign a stimulus bill in nearly three decades.
The previous record was President Bill Clinton in 1999.
The economic stimulus packages were first signed by George H.W. Bush in 2000, and President Bill Gates in 1997.