Although the intentions of the Stimulus package sound ideal on paper, I am not convinced about the plan as a whole. Part of this stimulus package irks me in the worst way possible. I am utterly appalled at the earmarks that Senators are tacking onto the stimulus package. According to Obama, this “massive stimulus package could ultimately exceed $1 trillion” (1). If there weren’t so many earmarks on this bill, the monetary amount of this package would surely be lower. It is absolutely despicable what these Senators are doing. While part of our country is unemployed or in debt, some senators are proposing earmarks so they can have the funding for their special projects. These earmarks are not only increasing the cost of the stimulus package, but they are selfish as well. Senators propose earmarks for the good of their state, and many times, for the good of certain individuals or specific companies. In my eyes, the economy will not improve until we focus on the bigger problem at hand instead of projects for special interests.
Furthermore, it is clear that the United States government is in a substantial amount of debt and our economy is experiencing a recession. Presently, the stimulus package seems like an unreachable solution, but President Obama is trying to convince people that immediate action is required and a stimulus-spending package is the only apparent solution to address the financial crisis. President Obama said more than once that, “things are going to get worse before they get better”(1). I would like to believe that, but is that a good enough reason to push this bill through that is laden with pork barrel spending? Would it really impact the crisis that much more to spend another week cleaning up the bill? I feel uncomfortable about pushing the bill through under panicked and such emotional condition.
Moreover, there are ways for the United States government to borrow money from various sources to help pay for the stimulus package. For instance, treasury bonds can be issued to foreign governments, businesses, banks, and/or other wealthy individuals. However, issuing more of these bonds will put the United States government into even more debt that could have drastic, long-term effects on future generations of America.
Source 1
http://www.timesonline.co.uk/tol/news/world/us_and_americas/us_elections/article5303652.ece
Source 2
http://www.huffingtonpost.com/the-progress-report/obamas-stimulus-package_b_155279.html
Claire Fichtel
Civics L4 Period 6
3/13/09
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What is your solution, then?
ReplyDeleteThe stimulus package was an attempt at saving our economy, and only the future holds what is in store for America. In other words, this plan could work out successfully, it could create even more debt for America, or somewhere in between those two scenarios. Although this bill's intent is to save our country's economic disparity, I feel that more time should have been spent cleaning up this bill; polishing off the finishing touches. If this action was carried out, maybe this package wouldn't be as costly and seem so intimidating.
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