Economic stimulus money will reach nearly all
The $787 billion will work its way through the economy in stages. Some will benefit almost immediately.
By James Oliphant and Janet Hook
LA Times
February 14, 2009
Reporting from Washington — With the House of Representatives and Senate giving final approval to the massive stimulus bill Friday, and President Obama prepared to sign it early next week, the question now is: Just how soon might Americans begin to feel its benefits, and when will they know whether it's working?
The scale of the legislation is so huge and its provisions so diverse that its effects could potentially be felt in almost every corner of American society -- from small businesses and major industries to individuals in their varied roles as workers, taxpayers and consumers.
Like a time-release capsule, the $787-billion plan will move into the nation's economic bloodstream in stages. A majority of Americans should see more money in their pockets quickly, as a result of tax cuts designed to reduce withholding and fatten take-home pay. Investments in science, basic research and the so-called green economy may not yield sizable benefits for years, even decades.
The Congressional Budget Office said the legislation would deliver its largest benefits to the nation's total gross domestic product by the end of this year, with the effect dropping some in 2010 and disappearing altogether by 2013.
(More here.)
By James Oliphant and Janet Hook
LA Times
February 14, 2009
Reporting from Washington — With the House of Representatives and Senate giving final approval to the massive stimulus bill Friday, and President Obama prepared to sign it early next week, the question now is: Just how soon might Americans begin to feel its benefits, and when will they know whether it's working?
The scale of the legislation is so huge and its provisions so diverse that its effects could potentially be felt in almost every corner of American society -- from small businesses and major industries to individuals in their varied roles as workers, taxpayers and consumers.
Like a time-release capsule, the $787-billion plan will move into the nation's economic bloodstream in stages. A majority of Americans should see more money in their pockets quickly, as a result of tax cuts designed to reduce withholding and fatten take-home pay. Investments in science, basic research and the so-called green economy may not yield sizable benefits for years, even decades.
The Congressional Budget Office said the legislation would deliver its largest benefits to the nation's total gross domestic product by the end of this year, with the effect dropping some in 2010 and disappearing altogether by 2013.
(More here.)
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