Saturday, September 18, 2010
White House defends $814 billion stimulus, highlights top projects it says are creating jobs
This article talks about how the white house is backing there 814 billion dollar stimulus package, which is suppose to go towards about 100 new programs which will give some americans jobs temporarily. All of this spending is good in the short term, and will make growth look better then it actually is. Down the road this stimulus package I think is just gonna be another dead end way to spend 800 billion dollars, and since the Obama administration is becoming desperate to appeal to people again its sounds like a way to keep the heat off of them for a while..
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2 comments:
I don't think the stimulus was "dead-end spending"; we may have ended up in a more prolonged recession or even a depression without such measures. Unemployment would have been a few points higher without it, and with less income, lower consumer spending would have decreased growth even more. Plus the improvements to infrastructure will help our economy in the long run. Either way, the Obama administration is taking heat from those who think it has done too little to stimulate spending and lower unemployment, as well as those who think it has done too much.
I agree with Kyle that the increased spending isn't in vain. The spending is mainly in infrastructure that will benefit the US economy while also creating job opportunities. However the increasing fiscal deficit is a bit unnerving.
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