Obama signs stimulus bill

President Obama today signed into law the $787 billion stimulus bill.
FEB 17, 2009
By  Bloomberg
President Obama today signed into law the $787 billion stimulus bill, which he says will create 3.5 million jobs and reinvigorate the U.S. economy. The stimulus will put the economy on a "firmer foundation," President Obama said before signing the bill in Denver, Colo. It passed both houses of Congress on Friday with almost no support from Republicans. “This recovery plan will help to save or create as many as three to four million jobs by the end of 2010,” the president said in signing the legislation in Denver. The bill was passed last week by Congress with only three Republican votes in the Senate. The bill includes a mix of tax cuts and the largest public works spending programs since World War II. “The situation we face could not be more serious,” President Obama said. “We have inherited an economic crisis as deep and as dire as any since the Great Depression,” he said. Failure to act quickly could lead to the disappearance of millions more jobs and double-digit unemployment rates, President Obama said. “With this act we begin the process of restoring our economy and making America a stronger and more prosperous nation,” he said. He also promised that “every dollar spent in this historic legislation is spent wisely and for its intended purpose.” The federal government will be held to “new standards of transparency and accountability,” President Obama said. An oversight board that includes citizens with expertise in management, economics and accounting, is to monitor the spending plan to root out “waste and inefficiency,” President Obama said.

Latest News

Farther debuts AI investment proposal tool for advisors to win clients
Farther debuts AI investment proposal tool for advisors to win clients

"Im glad to see that from a regulatory perspective, we're going to get the ability to show we're responsible [...] we'll have a little bit more freedom to innovate," Farther co-founder Brad Genser told InvestmentNews.

Barred ex-Merrill Lynch advisor arrested in alleged $2.6M theft of former Miami Dolphin Pro Bowler
Barred ex-Merrill Lynch advisor arrested in alleged $2.6M theft of former Miami Dolphin Pro Bowler

Former advisor Isaiah Williams allegedly used the stolen funds from ex-Dolphins defensive safety Reshad Jones for numerous personal expenses, according to police and court records.

Are you optimally efficient?
Are you optimally efficient?

Taking a systematic approach to three key practice areas can help advisors gain confidence, get back time, and increase their opportunities.

Advisor moves: Father-son duo leaves Raymond James for LPL, RayJay adds Merrill Lynch alum in Florida
Advisor moves: Father-son duo leaves Raymond James for LPL, RayJay adds Merrill Lynch alum in Florida

Meanwhile, Osaic lures a high-net-worth advisor from Commonwealth in the Pacific Northwest.

Beacon Pointe adds six RIAs in two-month acquisition spree, boosting AUM by $2.7B
Beacon Pointe adds six RIAs in two-month acquisition spree, boosting AUM by $2.7B

The deals, which include its first stake in Ohio, push the national women-led firm up to $47 billion in assets.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.