Bush Emergency Fiscal Stimulus Bill Soon to be Announced

Following Federal Reserve Chairman Ben Bernanke's stimulus package speech yesterday, President Bush has announced his intentions of soon providing immediate strategies to fight off looming recession. While the specifics of the plan are not yet known, and unlikely to be explained in depth at the plans' announcement today at 11:50am, Bush has called for the plan to be "effective, simple, and temporary". Such a plan would most likely call for direct tax rebates giving consumers cash in hand to bolster the economy while being able dispel their own fears.

At the opening of the market, Wall Street responded well to this announcement having risen 125 points at the time of this writing. While it is still far too early to forecast the larger scale impact of this recent problem, Bernanke is optimistic saying, "We're not forecasting recession but, rather, at this point, slow growth."