Obama and the stimulus package

Obama: 'We don't have a moment to spare'


After meeting with dozens of CEOs, Obama gave a speech letting Americans know that he knows that they want to see fast action from the government. Newly elected President Obama has been pushing to pass the newly modified stimulus package. If this bill passes it would consist of $550 billion in spending and $275 billion in tax cuts” While aggressively lobbying for this bill, Obama stated that “[W]hen it comes to rebuilding our economy, we don’t have a moment to spare.” Although both Republicans and Democrats know that something needs to be done fast, they disagree on how it must be done. Democrats like the current bill while Republics think that the large amount of government spending would just lead to a bigger debt. The Republicans also believe that there needs to be more tax cuts then the $275 billion in the current bill. President Obama is planning to meet with Republicans to gain their support for the bill and will attempt to have the bill passed today (January 28, 2009). Obama has said "I don't expect 100% agreement from my Republican colleagues, but I hope that we can put politics aside." Although the President is hoping to have the bill passed today, many people who oppose the bill expect that it will be passed by mid-February. This shows that even though they may not agree that so much money needs to be spend or as to how it is spent, the two sides of congress is going to do what it takes to pull this country out of the direction it is heading in.

I don’t know too much about politicians but I do know our country is headed into a crisis. I don’t understand what the stimulus package is going to do for us. That money is getting borrowed from somewhere to give to the American people. What is that going to solve? Nothing, just create debt in some other area. I believe everything should start all the way at the top and start spending sensibly. Each time a new president comes in the white house they have to get all new furniture, rugs and the whole nine yards. Is that really necessary when our country is in a financial crisis? I think that is probably the most outrages unnecessary spending a person can do. That should be a crime. He as the president should set an example for the American people don’t spend foolishly. Oh what about that seven thousand dollar garbage can the Obama’s had to get. Don’t take this the wrong way, I voted for Obama. I’ll get off my soap box.

I also believe that our country is heading into a crisis, or perhaps we are there! I’m not a person that is knee deep in politics, but as a college student that struggles to pay for school and make it through I feel like something has to give. I feel that Obama’s stimulus will help jump start our economy. If people get tax breaks and a stimulus I’m sure their debt will be paid down and free money that they can spend in the economy.
Also I have read that a good chunk of the stimulus Obama is arranging is going to college students, which is a huge plus for us. I’m not sure how reliable the source is but I know that the money that would be pushed into the economy has to do some good. I also have heard that some of the money would be replaced with taxes being raised for people who make over a certain amount each year. Either way something has to give!

You give a nice summary Seth, but what is your opinion? I want to hear your response to the articles. The information I can get by clicking on the link.

I definitely think something needs to be done to get the economy back on track, whether or not the stimulus package will do it or not I guess we will have to wait and see. I'm glad that Obama is serious about this and is trying to fix it now rather then wait. I think that things will get worse before they get better but hopefully within the next few years things will pickup. I read something about a plan he has for generating jobs and it sounded pretty good. I think the main reason for the economy being the way it is now is from all of the outsourcing of jobs to other countries. Large companies are saving tons of money but as a country we are losing a lot of jobs and leaving people in debt and no way to get out. We import so many products, maybe we should start producing them here instead and give people jobs and save some money from having to have it shipped from overseas.

I also found an article similar to this. I really think that it is good what Obama is doing. He isnt doing what mst presidents of the past have done by splitting the country up. He knows that the democrats will side with him, but he chooses to take the republicans views into consideraton when dealing with this topic. He wants to use this money to help our economy, but he realizes that the republicans think that that amount of money is too much.