President Obama makes history once again, after signing one of largest pieces of legislation in US history. Only 30 days into office the president has set a remarkable precedent upon our nation. With the lack of employment, health insurance, and housing this signifies the end of a new beginning.
Obama focused on the $787 billion stimulus plan, an ambitious package of federal spending and tax cuts designed to revive the economy by saving millions of jobs. Most tax payers will see evidence of the tax break on their paychecks that will total $400 for individuals and $800 for couples.
Despite his achievement, Obama declares, “We have begun the essential work of keeping the American dream alive in our time.”

The stimulus plan contends it will create or save 3.5 million jobs. Critics have implied that, it is filled with wasteful spending and provisions that won’t boost the economy. Recession victims will get extended unemployment benefits and help with health care coverage, as well as more food stamps and job training opportunities. States will get cash to prevent them from cutting aid for schools and local governments. Billions are slated for road and bridge construction, mass transit, high-speed rail and national parks. Middle-income and wealthy taxpayers will be spared from income tax increase that would otherwise hit them. First-time home buyers, new car buyers, college students, poor families with several children and people who make their homes energy efficient also will get breaks. The measure also includes money for three top items on the president’s agenda — expanding computerized information technology in the health care industry, creating “green” jobs Obama says will help wean the country off foreign oil dependence, and improving the quality of kindergarten through 12th grade education.

In continuance in his efforts to stop foreclosures and place families back into their homes, Obama readies $50 billion in foreclosure rescue stem plan to American families set on Wednesday. More than 2.3 million homeowners coast –to coast faced foreclosures last year, an 81 percent in crease from 2007. Analysts say that the number could increase as high as 10 million in the coming years, depending on the severity of the recession.
Treasury Secretary Timothy Geithner mentioned the housing program last week as he rolled out a wide ranging financial sector rescue plan that could send $2 trillion coursing through the financial system. Obama is expected to detail how the administration plans to handle the mortgage industry to do more in modifying the terms of home loans so borrowers have lower monthly payments.