- In his first radio address to the nation, President Obama has outlined his proposed stimulas plan. He wants to promote education, green renewable energy, health care and security. So far, the economy has continued to deteriorate with unemployment insurance claims rising to new highs and housing starts falling again. With the Dow Jones declining almost 8 percent in 2009 and banks under serious pressure, another stimulus plan looks likely to be passed in the next few weeks. Obama also said that he wants accountability for the spending and has initiated a new website for taxpayers who wanted to know how the money is spent at http://www.recovery.gov/.
PROPOSED STIMULAS PLAN
SECURITY - <>BOOST SECURITY AT 90 PORTS
<>BETTER COMMUNICATION BETWEEN LAW ENFORCEMENT AND PUBLIC OFFICIALS IN CASE OF AN EMERGENCY
EDUCATION - <> MODERNIZE 10,000 SCHOOLS
<> PROVIDE HIGHER EDUCATION TAX CREDITS TO 4
MILLION STUDENTS
HEALTH CARE - <>NEW TAX CREDIT FOR PEOPLE LOOSING THEIR JOBS
<>INCREASE MEDICAID BENEFITS
<> EXPANSION OF CHILD TAX CREDIT
ENERGY - <> 3000 MILES OF NEW TRANSMISSION LINES TO CONVEY
ENERGY FROM COAST TO COAST - <>BUILD UP CLEAN ENERGY INDUSTRIES
Sunday, January 25, 2009
OBAMA IN FIRST RADIO ADDRESS
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2 comments:
Obama's stimulus plan has divided the House of Representatives and has caused great controversey across the nation. Democrats swear by the bill that it will not only turn the economy around but also make it better than before. However, the Republicans who showed no support for the legislation at all, say that the stimulus plan is going to further weaken the economy and raise new problems in the future. Republicanse believe that Obama should focus more on securing the interests of big businesses in order to create more jobs within the economy. Do you think Obama's stimulus plan will help the economy like him and his administration say it will?
Pgstar123, I appreciate reading your comment on the stimulus plan. As an economist, my opinion is neutral when it comes to politics. I am probably in the dead center of the political equation. The economy has been unstable for quite a while. I personally believe in a stable, slow and steady growth economy. What happened in 2008 was not Obama's fault but Bush's arrogant approach to a series of serious matters from 9/11 to low interest rates to a falling dollar and to soaring gas and commodity prices. I believe that Obama's plan is social in nature and it will have its own kind of problems.At the same time, it is a type of slap in the face to capitalism. And capitalism was like a horse running wild in the field. When many people in corporate America don't have a conscience, then you are forced to take a different approach. If I would be Larry Kudlow, I would say: Lower taxes, give tax incentives to corporation without getting anything back, etc. I think it's time to mop up some dirt out of the system so it will be cleaner down the road. I think Obama has some good intentions and let's hope for job creation using fiscal policy.
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