American Recovery and Reinvestment Act
The estimated wealth loss in the world by the IMF is estimated at 50 Trillion Dollars. The Obama American Recovery and Reinvestment Act ended up at about 800 Billion Dollars after concessions to the Republican Senators who were intent on keeping the failed policies of the Bush Administration in place. Only about 25% of the $800 Billion is targeted to be spent throughout 2009, half of which is accounted for by tax cuts that the Obama Administration conceded to the Republicans. Tax cuts in a downward spiraling economy will accomplish only one thing, It will protect the wealth of the wealthiest who are least affected by the Economic Depression. These tax cuts will cut much-needed revenue from the Federal Government. While the Republicans clamor for tax cuts, they also squawk about the deficit, the same deficit that grew out of control under the Republican Congress and the Republican Bush Administration. While the U.S. Government and the Federal Reserve have placed trillions of dollars ...