US President Barack Obama yesterday succeeded in getting a major financial stimulus bill approved by the House of Representatives. The financial package within the bill is huge and amounts to $819bn.
The US has suffered greatly and was the first major world economy to fall under the global financial crisis the whole world is facing. They have experienced huge job losses putting the average American under an enormous amount of financial pressure and pushing many into financial collapse.
Companies are expected to continue cutting jobs well into the next few years to save themselves financially which paints a bleak future for many financially stressed debt-laden Americans.
Pres. Obama has said in a written statement that the enormous stimulus package will create over 3 million jobs for Americans over the next few years. This will bring hope to many people who are expecting their financial situation to get worse before it gets better.
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