“What was Obama's economic stimulus package?” This is a question I see asked a lot on various blogs and discussion boards. The economic stimulus package that President Obama signed into law back in February 2021 is widely panned by many leading economists around the world. In fact, the majority of them believe it did not accomplish what it was intended to do. However, I disagree and believe that if the United States went through a similar economic recession, it would be much better handled than this one. I will explain why in this article.
First off; what was the stimulus package meant to do? It was meant to stimulate the economy in a similar way as the last recession; whereby we saw a record number of jobs being lost. Now, the unemployment rate is lower than it was at any time since the days of the last recession. However, just because we've seen fewer losses doesn't mean we've seen an increase in job creation. In fact, the number of jobs being lost may have actually increased slightly as we are now seeing a rise in oil and natural gas prices, which are two necessities for economic growth.
Secondly, what was the economic stimulus package to do for me? This is a question many people ask me. My answer to them is nothing at all. The package did nothing to increase my income, it merely helped me keep more of my paycheck. The Obama administration and congressional leaders were hoping for that to happen because it meant more money for their coffers.
Thirdly, what was the economic stimulus package to do for you? The truth is, if you're suffering from economic anxiety right now, you've probably lost your job and you're wondering how you're going to make ends meet. You may have even considered filing for bankruptcy and doing that yourself, but that would be a big mistake.
The stimulus package isn't a bailout. It's not like buying a used car. It's not even like you're getting cash today because the government is giving you money. It's simply there to make sure your mind is set on a course that will get you out of debt as quickly and efficiently as possible. For that, you need to develop a sound strategy.
The . . . . . . key to this strategy is learning how to reduce your expenses. While cutting back on certain expenses is great, that's only half the battle. You also need to increase your income. That's where the stimulus package comes into play. You simply must learn how to increase your income!