Now that Barack Obama has succeeded in getting his wasteful stimulus bill passed by both the House and Senate, analysts say the benefit to tax payers will amount to an extra $13 a week in your paychecks.
Meanwhile, Obama’s campaign contributors and ACORN co-conspirators will be living large off your money.
The $500-per-worker credit for lower- and middle-income taxpayers that Obama outlined during his presidential campaign was scaled back to $400 during bargaining by the Democratic-controlled Congress and White House. Couples would receive $800 instead of $1,000. Over two years, that move would pump about $25 billion less into the economy than had been previously planned.
Officials estimated it would mean about $13 a week more in people’s paychecks this year when withholding tables are adjusted in late spring. Next year, the measure could yield workers about $8 a week. Critics say that’s unlikely to do much to boost consumption. [LINK]
The worst part is, a large chunk of the stimulus bill won’t even take effect until at least 2011 — right around the time Obama starts campaigning for re-election.
