President Bush stepped up to the plate today and hit a homerun for the people and the economy proposing an economic stimulus package of $150 billion and urged Congress to pass it immediately.

Nevertheless the stock market went into the tank shortly after the announcement by 100 points, rebounded slightly, but still  ended down at the end of the day.

The stimulus package is $75 Billion more than what Sen.’s Clinton and Obama proposed in their stimulus packages while stumping for the presidency.

The concept delivered by the President was to be simple, be quick and give people money and they will spend it.

“Letting Americans keep more of their money should increase consumer spending.” President Bush said.

The administration is looking at introducing one-time tax rebates, which could be up to $800 for individuals and $1,600 for couples.

The objective here is to focus on consumers, individuals, families — putting money in their pocket.  And to give businesses the incentive to invest in their companies and to hire people, to create jobs.

It will be interesting to see, especially in light of the divisiveness in the congress today,  how rapidly and to what degree our politicians follow the President’s lead.