WASHINGTON, DC — The U.S. House of Representatives and the Senate finally passed an economic stimulus bill last week and President George W. Bush signed it into law on Saturday. The new legislation provides extended unemployment benefits as well as business tax cuts.
Ending several months of debate, the bill offers considerably less than what the president originally wanted. Plus, it comes after a number of signs that economic recovery is already underway. But Bush hailed the legislation in a signing ceremony, saying “We're seeing some encouraging signs in the economy, but we can't stand by and simply hope for continued recovery. We must work for it. We must make sure our recovery continues and gains momentum.”