The Stalling U.S. economy is the main topic in Washington. The President has signed a $150 billion stimulus package with the intent of giving the economy a shot in the arm. Tax rebates, accelerated depreciation for business investment, higher loan limits for "conforming" loans that carry lower interest rates than "jumbo" loans; are the main benefits of the plan.
The one-time rebate will be rushed out to families as early as May. Individual tax payers would receive up to $600, working couples $1200, and those with children, an additional $300 per child. Consumer spending represents more than two-thirds of economic activity and the government is hoping Americans will "shop-till-they drop" with the rebates.
The one-time rebate will be rushed out to families as early as May. Individual tax payers would receive up to $600, working couples $1200, and those with children, an additional $300 per child. Consumer spending represents more than two-thirds of economic activity and the government is hoping Americans will "shop-till-they drop" with the rebates.
FYI: The Federal Reserve is ready to lower interest rates again to bolster economic growth!
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