Now that the stimulus bill has passed both the House and Senate and is signed by President Obama, what can you expect over the coming months personally?  This is a good question and there does not appear to be real definitive answers yet because there has not been a thorough study of this bill.  However, here are a few things that you should be watching for that were included.

Tax Relief.  President Obama’s promise during his campaign to give a tax cut to workers has been included in this bill.  You can expect an increase of $13.00 each week in your paycheck beginning in June.  While it is not a huge amount, the point is that it is better than nothing.  The total amount of tax relief included in this bill is $298 billion dollars.  That seems like a lot of money for the small cuts extended to workers.

Economy Stimulating Items.  The following are supposed to jump-start the economy.  By that, lawmakers are hoping that the following items create jobs and puts money back into the hands of people so that they will begin buying again.  Highways, bridges, rail and other transit projects will be funded which will create jobs for those who have work or are looking for work in these sectors.

The Bottom Line.  While it is admirable that the Obama administration and lawmakers in Congress appear to have the best interests of the American worker at heart, personal responsibility and taking ownership of your own financial situation are paramount.  You are the one who controls your destiny as far as your money is concerned.  Apart from becoming a completely socialist nation, there are still ways for you to make and keep income for your immediate needs as well as your future.  It is incumbent on you, then to make changes in your lifestyle to lessen the impact of negative economic times and profit from the good times to come.