The article did as it promised provide a summary of what has happened with the money. I don't know how rose tinted the author's lenses were, but reading this did give me a refreshing reassurance that the stimulus was making some progress, and doing what it should have been. It was also comforting to know that at this point in time, the stimulus isn't supposed to have had its full impact:
As much as its impact has been debated and discussed, the stimulus has barely kicked into gear. The package was designed to be rolled out over a three-year period, in part because of logistics (it's tough to approve tens of billions of dollars of loan guarantees to wind-energy farms and solar power arrays in a matter of a few months), and in part because of politics.
While I am fully aware that I'm no expert at analyzing economic growth or decline, I am anxious to see what will happen and how things will look up in terms of jobs for me when I graduate in the next four years. So I will be watching and hoping. In the end, if I can grasp this principle of fiscal policy I can look at the stimulus package of 2009 and tip my hat, or shake my fist. We will see how things turn out.
the quote and article are found at: http://www.newsweek.com/id/233722
ReplyDeleteThe stimulus plan for the most part, is doing what it was meant to do, in that the government money spent so far has created gains in the economy in the past two quarters. So technically, we are not in a recession although much work needs to be done until the economy is strong enough to run without government money. Furthermore, only about half the stimulus has been used and we are already seeing slow but gradual gains. I feel that this was a correct course of action a year ago, and I too await to see what will happen. A
ReplyDeleteThe stimulus plan has definitely lived up to expectations so far. It has created jobs and slight improvements in the economy. We are still facing tough times, but it is encouraging to see improvement, even if it is miniscule. The government money that has been spent seems to be helping create jobs and making a positive impact on the economy, even though it has been minimal. Let's just hope we can continue to see these improvements. (A)
ReplyDeleteIt's nice to see and hear that the stimulus package is indeed doing its job. It also really does give a nice piece of mind to read that article and see that the stimulus was designed to play out over a three year period. It makes me feel like best is yet to come. I just hope that this article is in face the way things are, and not just a suger-coated view of reality. A
ReplyDeleteI agree that it is good news to know how the stimulus package is doing in the economy. Also that the package was suppose to take time rather than an immediate response which is what i was led to believe. Even though it is good the stimulus package is doing well and will lead us out of the recession, our generation will be the ones to pay for it later on in our life through taxes.
ReplyDeleteI think we will have to wait until the multiplier effect happens to see the true benefit of the stimulus package. However, since the multiplier effect trickles through the economy it will be hard to point to the stimulus as the cause of improved conditions.
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Its good to hear yet another indication that we are turning around the economy and coming out of this recession. I hope the author is right and the slight success we have been seeing with stimulus package is just the beginning. I just hope it isnt a shaded version of what is really going on. It is hard to know who to read and trust these days because everyone has their own agenda. I dont care who is right as long as things get turned around for the American economy. A
ReplyDeleteI'm very interested in the way the multiplier effect will play into the benefits of the stimulus package. After reading the article, I noticed that Republicans stated that the government can't create jobs, in fact they "never did, can't, won't." Does a job created by a multiplier effect from the stimulus package still count as a government-created job? If it doesn't, than I can see a many conservatives in the media criticizing the small per-dollar return on the Recovery Act if multipliers aren't included in the total.
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I'm really glad to hear the news about stimulus plan because I posted something about this last week, from my personal opinion, the stimulus plan did work in some way, maybe the Republicans are right, the government can't creat jobs, but at least people realized that what we should do for the recession, and begin to do it, that's the positive side we should look at. At the same time we will have to wait until the multiplier effect happens to see the true benefit of the stimulus package. A
ReplyDeleteGreat to see the stimulus plan working, however will this be a long run or a short run action?
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