Obama To Sign Homebuyer, Jobless Bill Assistance

Longtime jobless people and prospective homebuyers will be the main beneficiaries when President Barack Obama signs a $24 billion economic stimulus bill today.

The White House signing ceremony comes a day after the House voted 403-12 for the measure. The Senate approved it unanimously on Wednesday. The bill also includes tax cuts for struggling businesses.

Lawmakers note that initial signs of economic recovery have not been reflected in the job market.

The bill would provide another 14 weeks of benefits to all out-of-work people and an additional six weeks in states where the jobless rate is 8.5 percent or above.

The bill extends the popular $8,000 credit for first-time homebuyers until June and adds a $6,500 credit for existing homeowners who buy a new place after five years in their current residence.

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  • by Obama Snake Oil Co Location: Washington on Nov 8, 2009 at 02:02 PM
    Its very simple, you want to extend your unemployment since you are in need, take a drug test. Hey, I have to take them to do federal contracts, so should anyone wanting federal or state money. Nathan, the only problem I have with this, America has no more money and is borrowing it from abroad. The 8K credit will cost us 40k to pay it back.
  • by Nathan Location: Eastern NC on Nov 8, 2009 at 12:51 AM
    They need to extend unemployment benefits, but they need to do it not at the cost of those who work and struggle to pay the bills, but at the cost of the companies that aren't hiring, are laying people off, and shipping jobs overseas. We need benefits for people who can't work because, we're all in this together. For those who can, we need not to extend their unemployment benefits, but to put them to work somewhere. The problem with this bill is that it won't help people struggling to pay bills, it will mostly benefit people who don't want to help the system at all. Though I do admit, some people do need the money. And the new homeowner $8k credit is a good idea. But people don't want to buy a home, if the job market is not secure, or more secure, so it's not a very efficient plan.
  • by once again Location: Ayden on Nov 7, 2009 at 04:50 PM
    Black and working....I responded to your silly post but WITN will not post it.......Just wish you could see it..probably won't post this one either!!!
  • by Rich Location: Greenville on Nov 6, 2009 at 03:51 PM
    Barlow, I think it is those who work hard who get it and have it. That is the problem with today' mindset. People make excuses and call themselves victims in stead of working hard. Those who have money work hard for it in most cases and even if it was left to them their parents worked hard to get it. I work 65 to 70 hours a week and save money and make investmtents and have built a decent middle class life for myself and my family. One day I hope to live a very comfortable life but know that I'll have to continue to work hard to get there. The government needs to extend unemployment to help people out who need it but they also need to figure out a way to get those who don't even try to work off of government assistance because if they are not trying they probably never will. I see this on a day to day basis through my work and it is disturbing. There are people who have never worked who have their votes bought and paid for by the government giving them minute amounts of money.
  • by Struggling Location: NC on Nov 6, 2009 at 02:18 PM
    I dont have a job. I was laid off when the housing market went belly up. I struggle to pay my bills and to feed my fanily. I DO NOT sit on my porch and wait for my checks. I have looked and applied over and over for work. SO far all I have is a part time job thats totally dead end. If it wasnt for unemployment benefits my family and I would be homeless. My savings are dwindling every single day. So I am very greatful for andy help I can get for now.
  • by MHB Location: Washington on Nov 6, 2009 at 01:20 PM
    It is such a shame that there is so much money being thrown around and it just does not seem to be helping the people that truly need it. The number of people falling through the cracks seems to continue to grow! As a middle class family we feel the walls closing in on us, we make too much to get ANY help but we don't make enough to get the bills paid on time each month. Somebody is making a killin off of all this government money but it's not helping the folks here in rural america.
  • by Barlow Location: Winterville on Nov 6, 2009 at 11:19 AM
    Like my mother used to say, "Those who have get". You'd think from reading this board that people living in the projects were in the lap of luxury and they could ave that CEO job if they could just park the new Jag long enough to walk their self and their three piece suit into an office. I personally like working and was miserable when I didn't have it and couldn't find it. Yes, that's right at 10% unemployment some people actually want to work that can't. Be grateful if you're not one of them.
  • by Audra Location: SoCal on Nov 6, 2009 at 10:46 AM
    Kimo: Sorry, I'll take what credit there is to keep my roof. My household was taken advantage of by someone who stole the rent rather than pay the bank & let the house go into foreclosure with me living in it. There was no choice but to try to buy rather than have to move again with no resources to do so or anywhere to go. Even at that it wasnt an easy decision & took months of paperwork & fighting. That 8K credit ended up chopped when the noteholder didnt want to pay for any repairs & knocked a lousy $1500 off the price.. no one said till the day of the downpayment that meant almost another $800 tacked on b/c "the credit didnt cover everything". WHAT?! I dont have a new car, or even TV svc., & have never had a credit card ever - should I be punished & have no programs to take advantage of for assistance b/c someone else has been irresponsible and careless with theirs?
  • by Rich Location: Greenville on Nov 6, 2009 at 09:34 AM
    Republicans tried to force reform of the housing market, which Clinton began the problems with, in the mid 2000's but Democrats in Congress talked to them like they were fools and said that those in control of Fannie and Freddie were doing great jobs. Now look where we are and who is to blame. Those who caused the problem, like Barney Frank, are tasked with fixing it. Barney Frank's boyfriend made tons of money as a bank executive during the peak of the housing build-up and everyone blames Bush. Nice excuse, but do some research there are more people to blame than the Bush administration.
  • by Anti-Terrorist Location: Greenville on Nov 6, 2009 at 09:19 AM
    Barlow... Who is we? My pockets were NOT being picked by corporations or banks or the Bush administration. I was not over extended borrowing money for things I could not afford. You don't see me living on welfare in a trailer but somehow able to own a crackberry with internet access along with all my kids. I don't try and be what I have not yet earned which served me well in the previous administration. In this administration I am being held accountable without my consent for the problems of others. I to don't want to see people starve but I will choose who to help and when with my earnings. I don't want government choosing with my earnings.
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