President Obama Signs Jobs Bill Into Law

by Thomas Wellborn

A new jobs bill packaged with $18 billion in tax breaks and $20 billion in highway and transit spending was signed into law today in a White House Rose Garden ceremony. The bill, the first of several in the works to stimulate the economy, is projected to create 250,000 new jobs.  Much more work will need to be done, however, in order to make a dent in the 8.2 million lost since the start of the recession.

The nation’s jobless rate stood at 9.7% in February. Since the latest recession began in December 2007, net payroll employment has fallen by 8.4 million jobs.

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