The president's 2009 economic stimulus package is not set up to bail out Wall Street or the credit card companies. It is, however, a bailout for the average American who has suffered either through no income at all during these hard times or extreme income loss due to job losses or layoffs. If you are one of the millions of people who have lost their jobs in this past year, then you are going to need a bailout too. The stimulus package contains funds to help people who are downsized and experience layoffs. There are also funds for those who have experienced unexpected medical expenses and need to pay for them out of pocket.
One of the most important things about this package of money is that it can be obtained regardless of your credit history. This stimulus money can be used for a number of reasons such as, paying off debts, fixing up your home, or purchasing groceries. You never have to pay back the stimulus money so you will never get into debt. With that said, if you have credit issues then the lending institutions may require you to take out loans with good terms and low interest before they give you this money.
This package is one of the largest investments by the government in the economy since the Great Depression. Because of the investments made by this administration, the stock market is finally starting to pick up and people are again interested in stocks. This is great news for investors and small businesses alike. It is possible that the stock market may even go up more than 10% over the next few months because of this package. This means that you could end up with a nice chunk of change after your investment when all is said and done.
Even though this package is benefiting the middle class, it is not for the wealthy individuals. Those that have seen their incomes reduced or their businesses collapsed are not going to see too much relief from this stimulus plan. They will, however, get some money to start or keep their businesses afloat. This is actually a very good thing because people are now trying to put themselves back into a place where they can make some money again.
The stimulus plan is also aimed at helping those with large amounts of unsecured debt. These debts are usually due to credit cards and medical bills and are usually hard to pay off. When this money is invested in government backed bonds and companies, it allows these debtors to get out from under their debt faster.
These are just some of the ways that Obama's stimulus plan is helping you out with your personal finances. There are many other ways that . . . . . . you can benefit as well, such as those who have been affected by the housing crisis. Homeowners are still able to receive a mortgage refinancing that helps to eliminate their debt. Obama is also planning on giving tax breaks to businesses that help homeowners as well as help them get a new home.