So after last week's "Obama's Report Card" topic, I realized that many of my classmates felt that President Obama was at the best, "average" when it came to dealing with the economy. Recently, this article came out answering many peoples' questions about what actions are actually being taken to ensure that we are boosting our economy again.
Let's back track a little bit. The Stimulus Package as a whole has $787 billion that is meant to be dispersed throughout the nation in order to establish an economic recovery. As of this moment, there is still more than half of the $787 billion still left undistributed. My initial reaction was "Okay...why did they only approve such a small portion to be sent out to the nation?"
Well this article answered my question by stating "that the government should not make the mistake of ending its recovery initiatives too early at the risk of sending the economy back into recession". This means that Obama can't initiate too many recovery plans otherwise we'll burn out all of the money from the Stimulus Package sending us further back down into the hole. I think that this is definitely a smart idea because rushing into such a tempting plan will end up causing more harm than good in the long run.
I believe that this clarifies A LOT concerning the Stimulus Package because every one is somewhat confused about what is actually taking place. It may seem as if nothing is taking place at the moment, but officials are monitoring the state of the economy closely and determining the best possible time to initiate how the rest of the Stimulus Package should be spent. Only time will tell what is to happen with the remaining amount of funding within the package.
Source: http://news.yahoo.com/s/ap/20091018/ap_on_bi_go_ec_fi/us_economy;_ylt=AoE.tljuNGO4o9yRqeKwpius0NUE;_ylu=X3oDMTJzOWMwbXUxBGFzc2V0A2FwLzIwMDkxMDE4L3VzX2Vjb25vbXkEY3BvcwM0BHBvcwMxBHB0A2hvbWVfY29rZQRzZWMDeW5faGVhZGxpbmVfbGlzdARzbGsDd2hpdGVob3VzZXNh
Sunday, October 18, 2009
Current Event #4; Stimulus Money Kicking In
Posted by Elysia at 2:30 PM
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3 comments:
I have to say that I really didn't know what was happening with the Stimulus Package and if was helping at all because the economy seems to be not improving at all, but this article does explain things better and I think it is a good plan to not spend all the stimulus money together because it might be risky and affect the economy more if too much money is on the flow and in turn might cause an inflation.
It's comforting to know that Obama is thinking more about the future than his current approval ratings. I think the economy will improve in time. We will be able to see the results eventually. With so much money allotted to stimulating the economy, something will happen.
This was actually pretty interesting to read because I, too, was wondering what Obama's plans were. Thanks for putting this article up because I otherwise wouldn't have known. This makes me a little more hopeful that our economy will improve in the future, good to know Obama really did put some thought into the stimulus plan.
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