Title: President Obama's New Stimulus Package

" The 819 billion dollar stimulus package has passed the house now goes to the Senate if approved. What will it mean to me and you joining us financial -- with securities America advisers and Armstrong advisory group and host of money matters on 830 WC aren't. Barry Armstrong back with us once again very thank you so much for talking about increased. Basically increase spending. And some tax cuts what practical effect is all that going to have on the average American here."

" Well I think you'll see a lot of spending on infrastructure with this new stimulus package that passed the house and hasn't gotten out of sunny yet. And everybody's going to be getting a little bit of a refund will get 500 dollars for people making less than 75000 dollars a year. And thousand dollars for each married couple making less than 150000. Dollars -- we don't know when those that come out but -- my guesses at -- some time late spring early summer. When we hear stimulus lot of doing well in the beginning in check here. This does not include a stimulus check this time but you can still possibly get more from last year right that's right you can recover election will get a stimulus check based on the 2009. Package OK to be the 500 and without OK so that's that comes in in a check for not something that's a tax credit that you thought your tax return. That's right OK but the years. A lot of people genes that are eligible for a rebate check. Based on 2008 what happened was last year if you recall everybody was getting checks for 61200. Dollars -- for married couples. And that assumed that in 2007. You need less than 150000. Dollars. But if you need more than 150000 dollars in in 2007 but let's say you lost your job in 2008 where you didn't see your bonus he just didn't have as -- you're doing 830000. In 2008 or even last. You're gonna get a check on him by surprise when you go to do your taxes because. Your eligibility is really based on your 2000 and -- income groups so lot of people are going and doing your taxes early at somebody called me of the -- that. I'm getting 1800 dollars back beginning 600 dollar for their -- themselves who and in 300 dollars for each of their kids just because they had a bad year income lines in 2000."

" Most taxpayers would know that but if you do on your own inventive pictures and that that's the problem you're doing it on your own I would you know -- what you don't LB it was a very struck. What about the -- 500 dollar first time homebuyers credit that's still available."

" It is and right now is legislation stands it is you can get that is only -- you purchase a home by July 1 of 2009. It's entirely possible if not likely. That it will be extended beyond July 1 when I'm suggesting to people right now is what you're going to get 7500 dollars as a effectively have an interest free loan from the government if he bought my house between now and July 1. Interest rates are very low and housing prices are very -- I just don't know that you're going to get a much better environment -- where we exist today in terms of purchasing new home."

" Then and first time homebuyers in May be reluctant to get in there based on all the other factors you -- things considered good news to me below gunshot. Let's this summer watching comes to -- conference is very what are we going to do to get -- its economy how to get people going again how to create more jobs how to get people. To spend money and get things along the way we want what what would your advice be what we -- suggests."

" You know the might be due to things that I would focus on if I was writing the magic ticket musically job creation. And elimination of all the illegal immigrants in the United States and if you if you. He didn't have the illegal immigrants in the United States and guess what you wouldn't have an unemployment problem at all right but job creation have been disappointed a lot of things in there about extending unemployment benefits. Extra food stamps and and programs and I feel are not related to job creation and he should all be about job creation because. People don't want to check for five bucks they want to job right. And some people suggested cutting capital gains. Businesses would be even more likely to reinvest maybe create jobs that ways that -- access to the act really think it should be focused. On whatever is going to create jobs like I do like some of the efforts that are being made in terms of discovering and exploring alternative energy I think that. Decreases our dependence on foreign energy and and that's become more national security issue than ever before. And that I'd like to see them focused on as well. I've been I'm a little disappointed with stimulus effect we will ship the suggestions to Washington the Armstrong amendment we'll see what happens thank you very -- stuff from --"