The new president of the United States, Barack Obama, has signed a $787bn economic recovery plan in Denver. With this plan, they hope the federal money starts to flow toward infrastructure projects, health care, renewable energy development and conservation programs.
According to Obama, this plan is supposed to be the best recovery plan in the history of the US. Obama knows for sure that the signing of the plan means the beginning of the end of the economic problems of today.
First of all, the recovery plan promises the Americans to create or save about 3.5 million posts. A lot of jobs will be available in areas such as roads and rail infrastructure, which are actually critical areas.
Besides, the plan has to boost the consumption and rebuild infrastructure. With this investment, Obama hopes there will be new discoveries and breakthroughs in science, in medicine and in energy. That would lead to a stronger economy, a safer nation and a safer planet for our children.
Republicans are critical of this hopeful recovery plan. At the beginning, they say that the tax cuts are insufficient. They are sure that it will result in a debt for the following years.
Secondly, the Republican chairman warns that there aren’t that much jobs available. He’s quite sure that Americans who are looking for a job will be disappointed.
Finally, they accused the Democrats to work on their own. According to Republicans, a plan is successful when Democrats and Republicans work together to solve the economic problems.
My opinion is a bit divided. According to me, this plan is hopeful and will lead to a better situation than today. When you do efforts to make a situation better, you always have positive results. It’s better than doing nothing, I guess.
But I think that Obama is too enthusiast. One plan can’t make a big difference. For example, the 3.5 million jobs which are promised are a bit over-estimated.
Although a lot of money has been invested in this recovery plan, I’m not sure at all the plan is worth it.
The plan got no Republican support; I understand their opinion. Democrats have to take into account Republicans. According to me, they must work together to make a successful plan.
Source: http://news.bbc.co.uk/2/hi/business/7895078.stm
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According to me, Obama is doing a great job. I'm glad he realises demand is the critical side of a capitalistic economy. Investing in publics works and infrastructure creates jobs. The national income will grow and the American economy will heal very quickly.
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