The economic recovery plan is now focusing on two major issues: job creation and workforce training. It appears as though, just like during the last administration, the White House is looking to pump up the economy through executive orders and regulatory actions. President Obama recently signed into law a $75 billion stimulus package aimed at assisting Americans through this difficult time. In addition to that, the administration hopes to boost economic recovery by increasing the rate of economic growth in the United States. This means increased consumer spending, infrastructure development, and raising the country's energy output.
One of the main concerns is unemployment and the impact it has on the overall economy. Many economic recovery experts, including those at the Federal Reserve, believe the unemployment rate will remain above 7 percent for quite some time. Many believe the worst is over and we are seeing a slow but steady recovery. Others, including many in Congress believe we are still very far from recovering from the worst of the recession. If you're one of the many who feel the way, there are a few things you should know about this current economic recovery effort.
First, President Obama has taken steps to increase federal stimulus in order to make good on his campaign promises and help consumers as well as businesses. The Economic Recovery Stimulus Bill was passed by both houses of Congress in order to pump up the economy and increase job creation. Included in the bill were additional funds for energy, employment, and education. Many of these programs are aimed directly at the unemployed; therefore, it's important to note that the economic recovery is not working exactly the way the president would like it to work.
While the federal stimulus has helped many people, unfortunately it's not a cure-all for our economic woes. In fact, many economists are saying the stimulus package is not nearly enough to help solve our economic problem. If more federal funds are required, it is suggested that the United States Congress to look at whether or not to add new stimulus packages in the future. Right now, however, the federal government is focusing its attention on passing the tax cut package, corporate tax cuts, and reducing the size of the federal government.
One thing that is very important to remember about our economic recovery plan; is that it will not work unless the citizens take an active role. It is a given that if you are out of work; then you are in need of a job. That being said, the economic recovery will not work unless the citizens are willing to get out of bed and work. Many have lost their jobs; in some cases they have been forced to work in places they never wanted to work in. That is why the job market is slowly starting to improve.
If you're feeling discouraged because the economic recovery plan hasn't resulted in more jobs, don't give up hope just yet. There is a lot of hope in sight as far as finding a new job goes. As long as there is a . . . . . . depressed economy; there will always be job openings.