Obama To Sign Home Buyer, Jobless Bill Assistance
Although the recession is ending and many factors are beginning to look up, many other factors are still hurting the economy which in turn impairs the recovery efforts.
Unemployment has hit 10.2 percent the highest since 1983, 16 million American are jobless and stocks dropped points early Friday morning. The Dow Jones went down by 60 points, S&P 500 down by 7 points and NASDAQ went down by 11 points. Home sales are going down and many of those who have homes are leaving their homes behind because they have found out that their mortgage payment is not worth the value of their homes.
As the recession begins to dwindle, the economy needs all the help it can get to try and stand up. In February a stimulus package was passed for $787 billion to help the economy. Some of that money has gone to help jobs while other has gone to help bail out auto industries.
A bill was signed this morning by President Obama that will help add jobs to the economy and help those who have ran out of unemployment benefits or will by the end of the year by extending 14 more weeks of unemployment benefits, which average out to about 2 million people. Only states that have unemployment rate of 8.5 percent or higher will get an additional six weeks.
It will also extend the tax credit of $8000 for first home buyers as long as they have signed a contract by April of 2010. This tax credit was originally supposed to end at the end of November. Along with this tax credit comes another tax credit of $6,500 for existing homeowners who are interested in purchasing a new home if they have lived at their current residence for more than five years.
Through-out this recession so much has happened, so many jobs have been lost, American's unemployed, business shut down and homes foreclosed on. Now that recession is ending many wonder if everything will start to return to normal or if we are headed for another economic disaster.
When it comes to unemployment many American's are looking for jobs, sending in their resumes and looking in newspapers/online job sites every morning but are still not finding anything and most of the people who do find something are only getting paid about $8 an hour.
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Training usually takes up to two weeks and once you have paid for your tools you will be earning pure profit from what you make because unlike other reconditioning services you don't have to buy extra tools and paint. You can make up to $100 per car that you fix; an estimated three cars are fixed by trained technicians daily which means you could be earning up to $300 a day, which is a great profit when you compare it to the $0 you are making during America's huge unemployment issues.
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