The most important news from President Obama's weekly address is that employers will be directed to withhold fewer taxes in paychecks. According to the administration, a "typical" family will take home $65 more every month after April 1st. The speed of this adjustment is impressive and wage earners will be able to determine the impact for themselves soon enough.
Next week President Obama delivers his first address to a joint session of congress. Thematically, the administration is attempting to project each policy as a component to an overall comprehensive economic recovery strategy. To date, we have seen three pieces of this strategy:
- The stimulus package.
- A housing plan to help nine million homeowners struggling to meet their financial obligations.
- Continued bailouts for America's largest banks.
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