The stimulus plan that was recently signed by President Barak Obama is supposed to boost the income of the people of the United States and in turn boost the United States’ economy. This plan is supposed to create 3.5 million jobs for the American public. This should severely help the economy considering the unemployment rate has sky-rocketed because of the failing economy and the growing national debt. It also includes “$281 billion in tax cuts with $308 billion in outlays funded by the appropriations committees and about $198 billion in spending for benefit programs such as unemployment assistance, $250 payments or millions of people receiving Social Security benefits, and extra money for states to help with the Medicaid health program for the poor and disabled” (1) This money seems like it is going to be used in a way that will actually benefit the economy and the people, but there is A LOT of money in this bill that is not necessary and is not going to benefit the economy. These are the 9000 earmarks that are tacked on to the end of the stimulus plan by the representatives of the people. This extra money is only going to hurt the people more. As Senator John McCain said, “It contains much that is not stimulative, and is nothing short -- nothing short -- of generational theft.” (1) The people of today AND the people of tomorrow are going to be paying for this stimulus plans and the billions of dollars that have been tacked on to the plan because of the earmarks. Although some Americans believe that this plan will be a quick fix to all of our economic problems, they are wrong. The economy is going to take year and maybe even decades to return to the way that it was. As President Barak Obama said, “This historic step won't be the end of what we do to turn our economy around, but rather the beginning. The problems that led us into this crisis are deep and widespread, and our response must be equal to the task” (1)
Source 1: http://www.foxnews.com/politics/2009/02/13/congress-readies-final-vote-b-stimulus/
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How long are you willing to pay for this package?
ReplyDeleteI know that the economy will not just fix itself and that it will take a long time before it is back to the way that it was, if it ever gets back to the way that it was. I also know that I am going to have to pay for some of this repair. My problem is that I don’t want my kids to have to pay for this same problem too. With this plan, it seems like my worse fears will be coming true.
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