President Barack Obama has signed probably the most noteworthy bill since taking office – the $787,000,000,000 stimulus bill. The President said there would be an “unprecedented level of transparency and accountability for the money spent”, but also noted that it “does not mark the end of our economic troubles,”.

The White House estimates the legislation will save or create 3.5 million jobs. Associated General Contractors of America predicts the bill’s $135 billion in infrastructure investments alone will save or create 2 million jobs, including 650,000 construction jobs. What fails to get noted though is that there is a huge difference in “creating” or “saving” jobs.

The nearly 1,100 page bill was signed by the President at the Denver Museum of Nature & Science. President Obama received his nomination for the presidency in Denver just 6 months ago.

Investors however found little confidence in the stimulus plan. The Dow Jones closed a disturbing 300 points down, nearing a low not seen since the carnage on Wall Street in November.

Investors weren’t the only ones not convinced by the $787 billion bill, Republicans which majoritarily opposed the bill denounced it as a “waste of money”.

Image by 64992423@N00 under Creative Commons.

Related news articles:

1. Dow Jones at worst level in 6 years
2. Obama Sees “Glimmers of Hope and Signs of Progress”
3. Obama aims to cut federal deficit in half
4. Unspent TARP money to be used for jobs: Obama
5. Brown holds talks with Barack Obama