President Obama’s Weekly Address – 02/21/09

February 23, 2009 by
Filed under: Blog Entries, Obama, Personal Finance, Politics, Society & Culture, Technology 

Two important takeaways from the President’s Weekly Address this morning.

#1, the American Recovery and Reinvestment Act will start having an impact as soon as a few weeks from now, in the form of the quickest and broadest tax cut in history:

“Because of what we did, 95% of all working families will get a tax cut — in keeping with a promise I made on the campaign. And I’m pleased to announce that this morning, the Treasury Department began directing employers to reduce the amount of taxes withheld from paychecks — meaning that by April 1st, a typical family will begin taking home at least $65 more every month. Never before in our history has a tax cut taken effect faster or gone to so many hardworking Americans.”

#2, once the economy has recovered and we’ve laid the groundwork for a sustainable future, the President is committed to taking on the massive deficits we inherited:

“That work begins on Monday, when I will convene a fiscal summit of independent experts and unions, advocacy groups and members of Congress to discuss how we can cut the trillion-dollar deficit that we’ve inherited. On Tuesday, I will speak to the nation about our urgent national priorities, and on Thursday, I’ll release a budget that’s sober in its assessments, honest in its accounting, and that lays out in detail my strategy for investing in what we need, cutting what we don’t, and restoring fiscal discipline.”

Watch the full address and read the text at whitehouse.gov.

 

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One Comment on President Obama’s Weekly Address – 02/21/09

  1. theo.johnson on Mon, 23rd Feb 2009 12:27 am

    2. I hope this works! I’ll be trying to keep track of what’s going on and what opportunities arise from the bill. I’m curious to see how it will help homeowners. President Obama is definitely moving fast. It all makes sense, but sometimes that’s not good enough.

    To watch where the money is going, check out recovery.gov.

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