Obama’s stimulus package is one of the largest plans for public spending seen since as long ago as the Second World War. The aims fall on two sides: to produce jobs and quickly raise confidence in the general public – but also to put down some of the initial disbursements for President Obama’s targets for renewable energy, health care and education.
However, when Obama set forth this package he claimed it to be the beginning of the first steps, which he intends to use to snap the US out of an economic disaster. Many believe this desperate situation to be largely the cause of the previous government and president Bush.
In a press conference around February of 2009, the White House commented that Obama would carry out all steps necessary to jump start the economy and get it on good footing once again. This included the possible addition of a second stimulus plan, although no specific plans were in place at such time.
The current stimulus package has mostly been aimed at aiding the automobile, real estate and financial industries, which suffered worst as a result of the credit crunch. It took Obama much lobbying to pass this package and in many ways, his presidency will ride on its success or failure. Either way, there is no doubt that it will add some 11 trillion dollars to the country’s current debt. Fortunately, Barack Obama seems well aware of this and is equally determined to bring back restraint and decency to the financial world which has been sorely lacking in recent years.
About the Author:For tips and facts about how you can benefit from Obama's Stimulus Package - or to find out if you qualify for the first time home buyer tax credit of up to $8000, please visit: http://firsttimehomebuyerstimulus.net
Article Source: ArticlesBase.com - Stimulus Package Could Be Only the Beginning
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