Written by Lisa Crowley The economy is in debt, and the economic stimulus bill that was just passed 244-188 is estimated to put the US $1.2 trillion further in debt in the long run. Obama got his $820 billion stimulus package passed on January 29 to try and help the economy out of the recession through a variety of government spending and aids.
Yes, we are in a recession and need something to boost the economy and get us out of this problem; however, all we hear is spending this or borrowing that to fund programs to help us out. We need to cut and save to get money to get out of the financial crisis. Obama plans to have some 225 million in tax cuts to help out the working class but is that going to be enough for the average American to make there payments at the end of the month?
It has been estimated that the plan will create 3 million jobs. The bill is passed to invest in alternative energy, education, transportation, which is all aimed to create job and pump cash into the economy hopefully giving it a heartbeat.The exact pricing of everything is not sure and that will be determined within the next months but Americans will be on the lookout to see how this injection of cash influenced the economy and how that plays along with our fears.
Sources:
http://news.scotsman.com/world/Obama-unveils-details-of-825bn.4911009.jp
http://www.rferl.org/Content/Obama_Economic_Stimulus_Plan_Passes_Lower_House/1376260.html
http://www.worthynews.com/4230-breaking-news-us-house-passes-obamas-stimulus-package
No comments:
Post a Comment