BREAKING NEWS! BREAKING NEW!With the stroke of a pen, $787 billion dollars will be spent in the U.S. economy over the next few years. President Barack Obama signed into law Today one of the largest spending measures in the history if the United States.
The President spoke to a large crowd in Denver, CO, stated that Americans to begin "laying claim to a destiny of our own making", before the bill signing ceremony.
The White House also opened up a website http://www.recovery.gov/ that will provide the country a mechanism to keep track of where and how the money from this bill will be spent. This was done as a measure of transparency that President Obama has pledged to maintain.
Even with unprecedented measures to pump money into financial institutions and American automakers, the country is reeling from continued slow growth and massive layoffs. In addition, State governments and municipalities across the country are struggling to meet common services and in some cases refunds to taxpayers.
The country has an unemployment rate is at a 16 year high at 7.6% and Economist and other analyst predict that the overall economy will remain unstable throughout the rest of the year.
The bill includes many measures that provides tax breaks and spending projects that as proposed should put millions of workers back to work.
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