Do You Support the Stimulus Bill?
Despite groans from Republicans about high unemployment and the growing national deficit, President Obama's administration continues to say the $787 billion stimulus is working.
In its latest stimulus report released Wednesday, the White House's Council of Economic Advisers said the Recovery Act has already saved or created about 3 million jobs.
That's in line with earlier predictions from Christina Romer, chairwoman of the CEA, who has said since the beginning of the Recovery Act that the stimulus would save a total of 3.5 million jobs by the end of 2010.
The CEA uses two different models, which estimate the number of jobs to be between 2.5 million and 3.6 million, meaning Romer's target may have already been reached.
The Obama administration is pushing the stimulus hard ahead of midterm elections, calling this the "Summer of Recovery." The government paid out the largest chunk of stimulus funds so far in the second quarter of 2010, to the tune of $116.3 billion -- which includes both spending on projects and TAX CUTS to businesses, Wednesday's stimulus report said.
Do you think The Stimulus bill is working?
Did you support Bush's Stimulus bill?
Why and why not?
- 1 decade agoFavorite Answer
The Recovery and Reinvestment Act of 2009 (a.k.a., "stimulus") was divided into a two-year program designed to STIMULATE a severely SHRUNKEN economy by getting dollars flowing from the ground on upward and outward in an ever-expanding ripple effect. Yes, the stimulus (the first half that has been distributed thus far, anyway) is STILL having positive effects in states across the country. I find the Republicans' harping on "spending" to be the height of CHUTZPAH after 'twas Republicans who got this nation INTO this multi-layered near-ruin ECONOMIC MESS with their six long years of DRUNKEN-SAILOR SPENDING! What is even more galling is how these ALL VOTED NO on the stimulus RUSHED HOME for the photo ops and to take "credit" when the job-creating stimulus checks were being handed out! (shown on "The Rachel Maddow Show" of MSNBC).
A lot of Americans are wrongly convinced that President Obama was the one who "bailed out" the financial system with the $700 BILLION appropriated when the MELTDOWN occurred in 2007 and 2008, but that was a very panicked BUSH, BERNANKE, and Bush's Treasury Secretary PAULSON (see PBS's "Frontline: Inside The Meltdown" available for online viewing). A lot of the ones who label President Obama as the "big spender" who "tripled" our deficit (NOT TRUE) simply DO NOT KNOW THE FACTS, and so they rant on. The $787 billion Recovery dollars is President Obama's doing (and wisely so), at the urging of his financial advisory committee that is headed by former Fed Chairman Paul Volcker and of current Fed Chairman Ben Bernanke, who just happens to be a recognized expert on the Great Depression, a review of his bio will show. Only HALF of the stimulus dollars have been used thus far, with the second half due for distribution at the beginning of the (confusing for most Americans) FISCAL YEAR that starts on October 1st and then runs through September 30th of the following year. Most orange cones in states like my own Missouri indicate roadwork and are attributable to stimulus dollars. The "cash for clunkers" was so successful that the money allocated ran out early, and the $8000 rebate ($5000 for foreign-made) for new car puchases inspired me to buy one in 2009. In around 40 states now, there are new or refurbished plants as part of the president's "green-energies technologies initiative" that are producing earth-friendly products that are bringing our GOP-outsourced MANUFACTURING BASE back to life (check out the 340-acre former Ford Motor plant in Wixom, Michigan now home to three different companies that make solar-powered and wind-powered products---and other states like Ohio, Pennsylvania, Florida, Colorado...these are JOBS making products that can be sold to foreign markets as we lead the world in production of alternative energy resources, and the STIMULUS dollars helped make these new plants happen. I do fully support the stimulus and I do affirm that in the state of Missouri and in the towns near me, businesses, infrastructure repairs, and jobs have been both saved and created thanks to stimulus dollars.
- Anonymous1 decade ago
Which stimulus, Obama's 787 billion or Bush's 4 trillion stimulus?
That's right, Bush pumped 4 trillion into tax breaks, so big companies and the 400 richiest families in American could make bigger profits. How did that work for us? We waited 10 years now, where's the stimulus impact?
Funny how you can't wait 2 years on a long term stimulus, of which more than 3/4 of the money as not be paid yet. The truth is that Obamas bill was very long term, long return on investment, and even long term before paments were made on it. So get some patience.
No...I did not support Bush's because you can't make more money by collecting less. You can't lower taxes and expect higher tax revenues.
Yes...I suppoted Obama's stimulus and believe it is working. First, Obam is the only president between Bush and Obama and Reagan who has created private sector jobs. His energy provisions have good value for tomorrow's America and show great vision and strategy.
- 1 decade ago
I think that there were some fundamental flaws within the bill itself but that congress simply passed what was possible at the moment since most Republicans refused to vote for it and the Democrats were divided on certain aspects of it too. That being said, passing the bill was merely a better option than passing nothing and letting the economy fall into a more severe depression whose effects could have been potentially longer lasting. The ideal solution, now that all's been said and done, would have been to bring back the post-great depression laws and regulations that kept our economy thriving and safe from these sorts of financial catastrophes until we began to deregulate in the 1980's.Source(s): History
- PaulLv 71 decade ago
The short term answer is yes the stimulus will have an effect on the economy
the long term is not so easy~ as when the money is all spent~ then another
stimulus bill will have to be pushed through congress or it will be a massive
belly up for the private sector of the country
the government does not have to show any profit~ like the post office
all lthey have to do is just keep raising the price on stamps
the post office loses billions of dollar as it is only one of the businesses that
is *TOO BIG TO FAIL*
that is poor planing if you ask me
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- Anonymous5 years ago
No. This bill lacks stimulus. Its a spending bill. Obama says ONLY government can get the economy going. No tool, America will.
- Anonymous1 decade ago
Yes ... of course it's working ... we were at the edge of the economic precipice heading straight towards another 'Great Depression' ... it took a lot of bravery by the Obama administration to continue with a pragmatic stimulus bill which they knew would be unpopular in the short term but was absolutely necessary for the long term economic health of our nation ... !
- DannyLv 61 decade ago
No, I don't support it. I don't think it is working. I didn't support Bush's stimulus bill. Why not? Because all it has done is put us farther in debt and prolonged the depression.
- Anonymous1 decade ago
...I support the Constitution ! ...what "barry" and his unelected Czars have done to America is completely unconstitutional and "he" needs to be Impeached for violating it ! (as well has his TREASONIST behavior against the Constitution when "he" gave aid and comfort to an enemy of the United States !) Obama gave a "pass" to Abd Al Rahim Al Nashim (the MURDERING BASTARD) of 17 U.S. Navy Sailors from the USS Cole (DDG 67) from being prosecuted for those 17 MURDERS ! In so doing, Obama committed Constitutional TREASON ! Obama need to be arrested and placed on Trial for TREASON and if convicted, taken out in front of a US Navy firing squad and SHOT !Source(s): ...just the facts !
- I VOTELv 51 decade ago
Sounds like it's Working. Whats wrong with that? Thx for the link!!!
- 1 decade ago
The "stimulus" is a slush fund. I don't support massive government spending for partisan reasons.