According to this article by Richard Cowan, ("House to Push $500 Billion Stimulus Bill," Reuters) the Democrats are planning on spending another $500 billion on yet another economic stimulus bill that, according to Speaker Nancy Pelosi, is "aimed at 'creating jobs for the 21st century,' with a focus on energy projects" and will "include a middle-class tax cut, billions of dollars for road, bridge and mass transit construction, expanded aid to states and investments in renewable energy." Look, I'm all for the Democrats, but what happened to that $700 billion awhile back? Where did that go? And where is the next $500 billion going to come from; who's going to pay for all that? At what point do we draw the line and realize we're going to have to do more than throw money at the problem in order to fix it? The budget deficit is already at a record $455 billion. With war in Iraq and a worldwide economic crisis, how can the government so casually toss money around? How can the average citizen be sure this will help him or her? Will there be enough jobs for everyone? There are so many questions this bill raises, and so few answers. If the government wants to spend all this money, I want to see some guarentee that the money will help the average American and isn't just another attempt to stall for time. Money may make the world go 'round, but lately it looks like it can't support the weight of the world on its shoulders alone. We're going to need something else to help us through these difficult times, and we need it fast. Hopefully it won't be too late.
Currently, Pelosi hopes the bill will be ready for President-elect Obama to sign shortly after he takes office on January 20th.
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3 comments:
It does seem as if the money will not ever be payed off and as if the money is not going to anything. Once in dept it is hard to get out of it while more and more money is needed. It seems like there is no solution to this money problem and everyone is suffering and will continue to suffer. But HOPEFULLY a plan will be put into action soon.
Yor are completey right nick. Where is all this money going through, and where is the proof for this money. Our country needs to stop trying to fix everything with money. I hope this is fix soon because if not I am scared to think of the future.
well right now Im all for it. The problem with most situation like this is that people dont spend the money they have, if they have any, so the the circulation of wealth stagnates: when people dont buy goods from a store, then the store makes less money, and as such employs fewer people. Those people then have no money to spend, so even less is being curculated, which just continues the cycle. This stimulus plan will hopefully be like taking a shot of adrenaline right in the heart. the US kind of needs it right now.
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