2009 U.S Stimulus Plan

578 WordsJul 6, 20093 Pages
This report was written with all information current up to February 12, 2009. As of Feb. 11, 2009 a final $789 billion stimulus plan deal was reached between the House and Senate. Barrack Obama said in a press release later this week that he did not intend to spend spend spend but rather use this stimulus plan to stop the downward spiral created in the bush administration. He defended his interests saying that he had no intention of starting his first term as president with an $800 billion dollar stimulus package but stated that we must adapt to our current situation. Obama stated in response to growing controversy, that the stimulus plan he proposes is not throwing money away, instead it is using money in a way that instantly creates jobs and saves money in the long term. One example was given of remodeling government buildings to be more energy efficient, Obama said that this would be one thing included in the stimulus plan; the initial remodeling would create jobs, and in the long term we would save money and be more efficient. The current economy stimulus plan differs form the bush stimulus plan in the sense that there will be no checks in the mail frivolously hoping to increase consumer spending; the same thing that initially allowed for banks and wall street to create our recession. Instead, the current stimulus plan is intended to be the first wave in stopping this downward cycle that our economy is in. Speaking against critics, Obama stated that this isn't going to solve our problem but will create the first wave in our recovery from this crisis. As is the final package intends to increase spending and tax relief, this is with the intention to spur economic recovery and create jobs by giving companies and consumers a bigger amount of money to spend. The final bill includes $282 billion in tax relief while spending $507 billion in spending programs.

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