The economic stimulus package signed by President Obama on Friday has finally turned the clock back to a time when people had less disposable income. The average American family income has dropped below what it was just several short years ago. Many people are still suffering from the effects of the recession that took place over the last two years. The economic stimulus package will help to rectify this and make sure that the middle class is not further harmed in the process.
Most people were not particularly happy with the economic stimulus package that was handed out by President Bush. Most people felt that this package did not go far enough in helping to alleviate the problems of the American economy. It does appear however, that this stimulus package is something that could actually help to save the American economy from even more economic trouble. In addition, President Obama appears to have realized that the time has come to try and do something about income disparity in America.
One of the reasons why President Obama signed this package into law is because he realized that it may put him in an awkward situation if his economic stimulus package was viewed by the U.S. House of Representatives as being nothing more than handouts. This may be a mistake and it is certainly possible that this economic stimulus package will do little for those who are suffering. However, it may prove to be very beneficial to many Americans. The way that it is worded, it appears that the package will help to stimulate economic activity in this country and allow the American economy to begin growing again.
While President Obama realizes that his economic stimulus package will not be able to bail out Wall Street, he realizes that it could at least do some good. Many Americans who have lost their jobs feel as though they are being punted a little in front of other investors. If the package is viewed as being a handout, then the American economy will suffer. However, if people believe that it is helping to stimulate the economy, then it may just prove to be the best investment the American economy has ever seen.
For the President to get his way on the economic stimulus package, the Republicans will need to give in some of their demands. For example, Speaker John Boehner and Majority Leader Eric Cantor have been promising that the package will include money for wind and solar energy. That may be wishful thinking, but it is probably true that the government will invest money in these types of alternative energy sources if they can make some sense out of the tax incentives available to them. It may also help to develop alternative fuel research. In fact, the President is pushing this idea as well and this could make all the difference in the world for our country.
All economic stimulus packages are merely suggestions. The actual details of how these programs will work is still up in the air. Still, it is obvious that President Obama is trying to make the biggest impact on . . . . . . the economy by signing this package into law. If the Democrats are able to gain additional congressional support for this package, it is very possible that it will have a much greater positive effect on our economy than any other previous attempt at economic stimulus. For this reason, the signing of this economic stimulus package is a huge victory for the President and all his economic stimulus team.