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Updated: 9:44 AM Mar 18, 2010
President Obama Signs Jobs Bill Into Law
President Barack Obama has signed into law a package of tax breaks and spending designed to give the nation a jobs boost.
Posted: 9:44 AM Mar 18, 2010Reporter: Associated Press |
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2 Comments 
President Barack Obama has signed into law a package of tax breaks and spending designed to give the nation a jobs boost.
In a sunny Rose Garden ceremony, Obama said the legislation will help the private sector start hiring again.
It is the first of several jobs measures promised by Democrats this year. Obama called it essential but "but by no means enough."
The legislation includes about $18 billion in tax breaks and $20 billion into highway and transit programs.
There's plenty of skepticism that the new law will do much to actually create jobs. Optimistic estimates predict the tax break could generate perhaps 250,000 jobs through the end of the year, but that would be just a sliver of the 8.4 million jobs lost since the start of the recession.
(Copyright 2010 by The Associated Press. All Rights Reserved.)
Latest Comments
Common sense questions: 1) Tax breaks? So the money normally the government raises through this is being lost. What is replacing that or what is being cut? 2) What are the negatives? In other words, if spending creates jobs, why not give a $999 trillion cash infusion?(sarcasm)
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