Obama’s $787 billion economic stimulus plan has created or saved 150,000 jobs since February, and it will continue to support more job opportunities in the future. By August, it is estimated that this plan will help over 750,000 people who are struggling with unemployment. Like Franklin Delano Roosevelt, Obama is trying to relieve the suffering of thousands almost immediately. In April, unemployment skyrocketed to 8.9%, but this stimulus plan is slowing the rate of job losses now. There is no current data to prove where these newly created or protected jobs are located, but there will be information from the states in a few months. This stimulus plan is still very new, and it needs time to produce effects.
People are dissatisfied with Obama right now. Changes in the economy are slow or nonexistent. The stimulus plan cannot make things better overnight. In the 1930s, a recession occurred within a depression, making the economy worse before it got any better. Maybe the same thing will happen again...maybe not. Hopefully we will not abruptly tighten monetary policy, raise taxes, and reduce spending like FDR did. Such sudden policy changes can ruin the economy. We must continue helping people cope with the bad times, and perhaps, by 2012, there will be 6.8 million new or saved jobs. This stimulus plan might indeed be what America needs.
No comments:
Post a Comment