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Barack Obama On The American Recovery and Reinvestment Act

Written by | February 14th, 2009

For anyone interested, here is President Barack Obama’s weekly Web Address on The American Recovery and Reinvestment Act; formerly known as The Stimulus package.

Mark

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One thought on “Barack Obama On The American Recovery and Reinvestment Act

  1. markross Post author

    OK,
    I first want to say that I do feel for President Obama; I would certainly not want to be in his shoes, however, he (voluntarily) has chosen this path.

    Sadly, I am very skeptical of this package. I have no doubt that there is “some” useful spending in this package, and that America certainly needs infrastructure repairs, energy independence etc.

    That being said, there is an appropriations process that Congress is suppose to go through in order to utilize tax dollars for spending programs; and this is where the skepticism is “rightfully” felt by “many” Americans.

    We were told that this package would be used to stimulate the economy, and there are basically two different philosophies on this subject, which I will leave at this, for now…

    1. Some believe that big spending is stimulative,
        while others believe that
    2. Cutting taxes, with a much smaller degree of spending is the way to go.

    I happen to be for number two, but that is my opinion, and others can certainly disagree.

    That being said, most of us know that The Democrats, in Congress and The Senate are using this opportunity to spend “FAR” more money then would likely ever be needed; a lot of people also believe that a large portion of this money is for political expediency, and to please their constituencies.

    We were also told that we (Americans) would have 48 hours to look over the bill before it gets signed into law, however, thus far, I have not seen an electronic version of it; has anyone else?

    OK, it is great that the president is saying that we will be able to see how the money is being spent, however, some of us feel that we would like to have more of a say, “before” it is spent, and more precisely, how the money is spent, or not spent.

    I could easily (as I often do) go back into American History and show how big spending plans, in times of recession, have been shown to further the recession, even push us into a depression, or hyper-inflation. However, for now, I will leave it at that.

    Mark

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