Bush Calls on Congress to Pass Stimulus Package
EmailABC News’ Jennifer Duck and Dean Norland Report: Moments after a bi-partisan economic stimulus package was announced on Capitol Hill, President George Bush made a televised statement calling the growth package "an effective, robust and temporary set of incentives."
"This package has the right set of policies and is the right size," Bush said Thursday.
The president acknowledged Americans are concerned about the economic future but he explained the economy is "structurally sound but it is dealing with short-term disruptions in the housing market and the impact of higher energy prices."
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"The economy is strong, and it is dynamic and it is resilient," Bush said.
The stimulus package would give refunds of $600 to $1200 to most Americans who pay taxes and additional money for families with children. Also, employed Americans who make at least $3,000 but don’t pay taxes would receive $300 rebates.
Lawmakers believe small businesses will also benefit from the growth package in write-offs for additional purchases of new equipment.
House Speaker Nancy Pelosi agreed that the plan will stimulate the economy, and if it does not, said there will be more to come.
“Should our economy worsen, we will not hesitate to advance additional legislation,” the speaker told reporters at a news conference at the Capitol on Thursday.
She said it will put money in the hands of working Americans and should be acted on quickly. A fact sheet released by the speaker’s office predicted the bill would provide tax relief by this spring.
“I believe that the package that we are putting forth deserves the support of members of Congress and we will bring it to the floor at the earliest date so those rebate checks can be in the mail,” the speaker said.
But Pelosi also expressed some reservations about the deal, saying that she and House Ways and Means Committee Chairman Charles Rangel were not completely satisfied, but refused to elaborate.
House Minority Leader John Boehner, also present at the press conference, expressed his support for the proposal.
“The beauty of this package is that it is simple, it is clean, it is neat and it will get the money back out into the American economy as quickly as possible.” Boehner said.
He also predicted broad, bi-partisan support for the bill in the House, which will consider it first, before it moves to the Senate.
Since last Friday, Treasury Secretary Henry Paulson, House Speaker Nancy Pelosi, R-Calif, and Minority Leader John Boehner, R-Ohio, have been working on the deal that will total $150 billion.
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What happened to $800 per person and $1600 per couple?
What ever is allotted will be going to pay off bills. This isn’t a gift, it’s our tax money that the politicans squander.
Posted by: Leslie | January 24, 2008, 3:47 pm 3:47 pm
Remember, if it’s too good to be true, it probably is.
Posted by: cindy | January 24, 2008, 3:51 pm 3:51 pm
Bush is the Man!!!!!!
Thank you President Bush.
On a different note…
—- Hillary working for Wal Mart —-
IMO When Sam Walton died and his son took over and they dropped the Made In the USA slogan. I’m sure they needed her advice on importing non USA goods from China.
Posted by: Democrat Ed' | January 24, 2008, 3:51 pm 3:51 pm
bush is so incompetent and evil it numbs the mind.
Posted by: ac | January 24, 2008, 3:54 pm 3:54 pm
This $600 will just come short of covering the federal taxes I owe this year. What a joke. These guys should all be tried for theft from the tax payers. How about getting rid of all the pork and reducing our taxes, you morons.
Posted by: Mitch | January 24, 2008, 3:57 pm 3:57 pm
Anyone complaining about money they owe in federal taxes this year, needs to submit a new W4, as your incompetence in the field of withholdings is unbelievable. Oh, and on a similar note, lets get paid our gross paycheck and then write a quarterly check for each of our tax liability. Then we’ll see a tax revolution!
Posted by: JLB | January 24, 2008, 4:07 pm 4:07 pm
So another break for those who have kids!! Now what about the rest of america???
Posted by: Robert | January 24, 2008, 4:08 pm 4:08 pm
JLB. Glad I’m not complaining. Whether you have enough withheld, or end up having to pay, it is still the same. You pay what you owe according to what the goverment needs to cover it’s out of control pork projects and wasteful spending..
Posted by: Mitch | January 24, 2008, 4:14 pm 4:14 pm
We are hurting, not helping our country by doing this.
The United States is in trouble because we’ve allowed our jobs to leave our country. Greed from banks churning risky mortgage loans, corporations selling out communities(Greenville Michigan), and citizens thinking that the 2.9% mortgage teaser to buy the McMansion has left our country weak and vulnerable.
I am stunned to think that our country will borrow 150 billion dollars, and add it to the 9 trillion dollars in debt to speed up the economy. Maybe it would have worked in the 1970′s when we actually could earn a living in a factory… go ahead and try to find something that is not manufactured in China or Mexico in your local Supercenter.
The most damning aspect of this is that our children and grandchildren are going to be paying our tab well after the shopping spree is over. This package makes me ill.
Posted by: Dan | January 24, 2008, 4:24 pm 4:24 pm
This last bit of rebate business by congress is the best evidence so far that our government in washington is totally out of whack. We are well into the decline and fall of the america we knew and loved.
Posted by: HP3 | January 24, 2008, 4:26 pm 4:26 pm
This fool is an absolute joke…Why don’t he just shut up for the next 359 days. He is lying again…His lips are moving..
Posted by: Joe MUrphy | January 24, 2008, 6:20 pm 6:20 pm
Bush is a liar,a criminal and totally delussional. Anyone who supports him has a reality problem for sure. Bush has done more harm to America then any president ever! Bush and his band of criminals need to be behind bars. Bush supporters are the worst Americans of all time. Bush is worst president of all time!
Posted by: AJ | January 24, 2008, 6:45 pm 6:45 pm
Whatever this sociopathic dim-witted fool says, just assume that the truth is somewhere in the opposite direction. We should jail the incompetent idiot for impersonating a president. Maybe we need to institute an honesty and IQ test prior to inauguration…
Posted by: DavidM | January 24, 2008, 6:46 pm 6:46 pm
He also insisted that Iraq had weapons of mass destruction.
Posted by: eric donovan | January 24, 2008, 7:16 pm 7:16 pm
Fools’ Gold!!!
Posted by: Maria | January 24, 2008, 8:01 pm 8:01 pm
As expected its a tax cut for the wealthy disguised as a consumer side tax cut.
The democrats have long known for years the only stimulus package that works is a low to middle class tax cut, but GOP nutjobs are against all consumer side tax cuts and prefer to adhere to the failed Reaganite “trickle-down” tax cuts.
I remember the Reagan Regime, I didn’t appreciate getting trickled on by the rich, and if I remember right my tax cut was a whopping $53 back then. Thanks Ronnie.
Posted by: Rick Cain | January 25, 2008, 1:13 am 1:13 am
Looks like Bush and the Neocons have led Pelosi down the garden path again. Cash and tax cuts for businesses that are doing well in a “resilient,” “fundamentally strong economy” and nothing for poor seniors living on Soc Sec who actually need the money. Note to, Nancy and Reid-the expected sop to the poor of more food stamps so seniors and the other poor can digest your sell-out on a fuller stomach will not cut it. We can stay home on election day just as easily as the voters the Neocons are abusing in the Repub party!
Posted by: Luke | January 25, 2008, 10:41 am 10:41 am
Bush is so disconnected from reality. He should be committed…. after he serves time in prison for crimes against humanity.
Posted by: RW | January 25, 2008, 11:36 am 11:36 am
To you in the Republican Party, Independents, and YOUNG VISIONARIES, who rallied around Bush as “One of Us,” “Rah, Rah, ObaMa, Uniter”: You ALL stood by and watched THIS ADMINSTRATION lie, cheat, cover-up, withhold, pull every dirty trick (illegal) imaginable to mislead the American People and keep the truth from coming out; You called those of us Americans, screaming in horror, “unpatriotic” for questioning their actions of holding “secret meetings” with oil industry, refusing to account to the GAO of the Federal Government, for taking us into a STUPID war based soley on Corporate Greed and Cheney’s KNOWN relationships with Haliburton and BiG Oil Companies Biggest benefators of the war at OUR EXPENSE; AND, get us into trillions of dollars in debt…and a war with nations that may never be settled… DON’T WE ALL FEEL SAFE, NOW???…but you want to “BRAG” about the Party’s efforts to TRY to impeach a President who orchestrated solving a trillion dollar deficit and gave America a BALANCED BUDGET – seen THE FIRST TIME IN MANY OF OUR LIFETIMES…. for being “immoral” or “lying” (to protect his family from humiliation). How spineless and hypocritical can you get!
Posted by: dverot | January 25, 2008, 1:17 pm 1:17 pm
Is there anybody that still listens to what this man says?
Posted by: Eric | January 25, 2008, 3:24 pm 3:24 pm
Will someone please shut the mic off when this evil moron speaks!
Posted by: geddesman | January 25, 2008, 4:17 pm 4:17 pm
If you are concerned about the economy and the best choice of president Google “Federal Reserve Bank Owner” and “Federal Reserve Fraud”. You will learn that the FED is privately owned and is controling the governments economy, which you already know the second part, but did you know the first.
Posted by: Emily | January 25, 2008, 4:32 pm 4:32 pm
Thank God someone said it, Chris. Some people will never get it.
Posted by: Jesse | January 26, 2008, 11:31 am 11:31 am
To Chris and Jesse some of what you said is very true However, the package was Bush’s idea yes other people are helping to put it into play but that will never change my feeling about Bush he could help the economy in so many other ways not like This!
Posted by: tiffany | January 26, 2008, 11:40 am 11:40 am
When did this become a session to trash George Bush? Get off your high horses and come back down to reality. Maybe you should talk about the stimulus package and not about how much you hate George Bush.
Posted by: benzy | January 26, 2008, 1:42 pm 1:42 pm
how about we just try to pay off the national debt and get the value of the dollar back up, yes, people are losing their homes and cars, but this is where we go back to our priniples and figure out that we cannot bite off more than we chew, otherwise you end up choking on debt, america also tends to stick their money in the wrong places. So americans, keep your houses simple, and Burger King really isnt that great, so make your own burgers.
Posted by: Buck | January 27, 2008, 2:10 am 2:10 am
Thanks China for the loan. I’ll enjoy spending the money on things made there to make you stronger.
Oh, our government is in debt… where do you think this money is coming from, exactly?
Posted by: Alex Johnson | January 27, 2008, 10:54 am 10:54 am
The package will help a little bit, but it is up to you to decide what to do. What you need to do is to save money and get ready if you really think that a recession is coming. The econonmy will get better, all you have to do is to calm down. The only reason our economy is holind up right now is because europe is buying more of our poultry due to the weak dollar. If the dollar went up, the economy would tank. So dont complain about the weak dollar!
Posted by: james | January 27, 2008, 3:48 pm 3:48 pm
There is more to these bills and the reason our economy isnt as stable as it used to be than just dubya. it makes me laugh when people blame the president because they bit off more than they could chew with the 250k house and 50k SUV and the hollywood lifestyle that lasted just long enough for these people to realize when the interest hit, they were going to lose their houses. and the banks, they knew damn good and well what was going to happen with interest free loans, and variable interest rates. its ignorance and arrogance across the board. when people from other countries refer to americans as simple minded and arrogant, this is why. this bill is going to give us temporary relief. bush even said, “temporary relief.” so there is no point in pointing a finger at the lack of long term bandages. they are under the microscope. and a recession? that isnt going to happen. it happened when our grandparents because the country wasnt prepared, the banks werent prepared, your money wasnt insured, etc. i remember 5 years ago when the DJIA was hovering right around 8000. its at 12000 now. the money is sill in the states. the middle class is what drives america, and right now there are more people in the lower part of that bracket and thats what this bill is for. a mortage note, a couple car payments, credit relief. the govt. is relying on us to spend it smart. i guarantee you though, people will conitnue to be ignorant and spend it like fools, because thats america for us right now.
Posted by: Tony | January 27, 2008, 8:37 pm 8:37 pm
What do they mean by ‘most americans’ who is most? I agree, it seems to good to be true. Coming from bush, It probably isn’t a great idea
Posted by: Jessica | January 27, 2008, 10:07 pm 10:07 pm
I don’t have a complete clue yet as to how far this package will help but atleast it is an idea. We pay the elected officials of this country to try and make the best decisions possible for the country and because we are a Democratic Republic the people that are bashing those officials need to shut up and vote them out of office rather than whine and moan about how bad they suck. Those bashing the president need to understand also that your Democrat controlled congress has a lower approval rating than the president and that he can’t just wave a magical wand and make things happen congress has to get up off their collective lazy behinds and work more than 24 days a year and get some work done for our country. By the way politics today is a straight up soap opera drummed up by the media for ratings. I really think that America has gone down the wrong path for the last 20 or 30 years and we really need more than just political reform but alot reform to make us Americans again, not just a bunch of whiny cry babies because life isn’t perfect.
Posted by: Burk | January 27, 2008, 10:11 pm 10:11 pm
i don’t really see how this is going to work. everyone is in panic mode, the money is going in the bank. that or spending a few hundred dollars on new jeans and their cell phone bills for a couple of months really isn’t going to make a difference.
Posted by: Rodney | January 27, 2008, 10:37 pm 10:37 pm
The tax rebate is merely money that has been taken from us before only to be returned short and without interest. Make money available to business that have the initiative to compete with China in the open market. What happened to made in America? sadly our biggest output is military related products and services which we cant buy.
What are we supposed to buy with $300 that will stimulate the economy. Its like giving someone a fish to eat in one meal instead of teaching him how to fish which will provide fish for life.
Posted by: Sean Davis | January 28, 2008, 12:09 am 12:09 am
Oh, hooray. I can barely contain my enthusiasm over this. Yeah, right.
I don’t need a handout. I need a JOB that pays enough to keep me from being swallowed up by the sheer idiocy of the government and the rich, both of whom have completely lost their grip on reality.
And, for those of you who may think that it’s a simple matter to just budget better: just try paying for a single trip to the hospital emergency room when you have no slack in your budget to begin with and a job that doesn’t have a nice cushy medical insurance package – you know, the kind of insurance we can’t afford on our own.
SOMEBODY better start figuring out a long-term solution for MIDDLE-, LOW-, and ZERO-INCOME Americans. I’d be impressed by a plan that actually INCLUDES those of us who no longer have children at home.
Might be time to figure out what’s wrong with this pretty picture painted by the “new jobs created this month” indicator, as well. Maybe replace it with “NET MEANINGFUL jobs created this month”, because I’ve been searching for a way out of this rut since the late 1990s.
How about, wake up and take a look around. Bring some of those jobs sent overseas back to the States – that’s assuming you can reach anyone human on the phone who isn’t in a call center somewhere in New Dehli or Tokyo, or Botswana (not that really I have anything against foreigners who stay in their own countries rather than overloading our joke of a welfare system).
I say OUTLAW the income tax system and convert to a flat-rate sales tax. No, I won’t really be any worse off. Let those people spending $500 for a pair of blue jeans pay their percentage share, particularly if my wife and I are expected to live for an entire week on less than half that amount (at least that’s where we start BEFORE setting aside part of that for rent, utilities, gasoline to get to work and back, medical bills, and everything else that crops up).
So Mr. President, Congressmen, if you want my honest opinion: What pompous morons you can sometimes be. Get a CLUE. Forget this stupid bill because it’s no more than a drop of water in an ocean. Trust me, your token “stimulus package” won’t mean you’re being fair and generous. If you want to help me and the millions like me, then help us be self-sufficient in some MEANINGFUL manner rather than using this bill as a means to soothe your own egos.
Posted by: Jim | January 28, 2008, 6:10 am 6:10 am
Thank you Jim! preach baby preach I cant agree with you more.
Posted by: tiffany | January 28, 2008, 11:51 am 11:51 am
The last paragraph lists Nancy Pelosi as: (R)- California… but maybe that’s what she gets for supporting this trash legislation.
Posted by: Tanner | January 28, 2008, 4:10 pm 4:10 pm
With the national debt over $9 trillion to doate, placing every tax-paying American citizen at least $30,000 in personal debt, $1200 doesn’t go near cutting it.
Posted by: Raymond | January 28, 2008, 4:35 pm 4:35 pm
I think the idea of getting a check is nice but depends on how you spend it. The problem I have is those of you who do not work but still getting money. something is wrong here?? if you depend on those of us who do work to have free health care and food stamps, government assistance then why should you get $$$? Many people are losing their jobs, houses, cars because they had a nice job when they went into debt, not knowing a year later they would loose their job…No I do not like Bush but hey what can we do about it now??
Posted by: Lucinda | January 28, 2008, 9:06 pm 9:06 pm
We lost our house when I lost my job. We then got a 12,000 tax bill for unearned income we’ve been trying to pay back for the past 2 years. All our refunds go to pay our taxes so we never see any money. Will all this money go towards our bill or will we actually get this money back? Let me know if anyone can answer this…thanks
Posted by: Delores | February 8, 2008, 10:37 am 10:37 am
This stimulas package is a sham! It’s just like the one back in 2001. There will be a place on your 2009 take form to claim the money. You pay it back dollar for dollar…it is just an advance on your refund. In 2001 I was suppose to get 600 dollars. When my check came it was $96. I called the IRS..they said did you take a childcare credit last year..I said yes. They said did you take and education credit last year..I said yes. Then they told me $96 dollars is all I get. Well I never told my accountant and he filled in the block on my tax return saying I got the 600 dollars and low and behold I got a check from the IRS for the 5hundred and something change because YES you will have to pay it back dollar for dollar. My recommendations, pay your bills early or put it in a high paying CD or somewhere you can get some interest.
Posted by: Maureen | February 10, 2008, 7:18 am 7:18 am
I know that this is old news and that most will not read it, however I came across it in doing research for a college paper maybe someone else will as well. As I put in my letter to the editor at my local newpaper, “Anyone that does NOT want their stimulus check is more then welcome to send it to me. I will take whatever I can get to help me out. I know that this may only seem like a drop in the bucket however it is a start. More then Bill Clinton ever done for me!! You want to talk about getting jobs back in America? Give Bill a call, he’s the one that started move jobs out!! While he was in office I was training people from Scottland to take my job (with a well know printer company). And as for Welfare reform, well you can call Bill about that to. I think that it is a same that our country is the way that it is now, however we really have no one to blame but ourselves except maybe some parents out here. I was rasied to WORK for whatever I wanted, kids now days are handed whatever they want, then when it’s time to get into the real world they don’t want to work. TaDa in comes welfare. I’m sick and tired of paying for the person that lives beside of me rent! It’s time for America to get off their butts and get to work. I pass at least 5 “Now Hiring” signs on the way home from work everyday. Granted they may not be the best jobs and may not pay what you want, but come on it’s a job. You have to start somewhere.
Come on people….quit trying to find someone to blame, and take contol of your life!!!!
Posted by: Candi | October 23, 2008, 5:46 pm 5:46 pm