Eng 205 - Stimulus Bill

Stimulus Bill

10 December 2010

English 205

Angi Caster

Abstract: The economy is struggling with a period of recession which causes a lot of horrified consequences. Government, led by Mr. President Obama, adopted a Recovery act which’s called ‘stimulus package’ in order to fight back that bad period of time of the economy. However, there has been a lot of interesting back and forth about this anti-deflating policy: some person is against the stimulus bill because they don’t want the government to waste their money to the debt of nation; otherwise, economic professors and experts highly weigh and support it. The paper, written by M, shows the professional views about the stimulus package that people should understand that its existence is necessary.

Pictures from the title page credited to:

[Obama Stimulus Plan] Hiptics. Retrieved from http://www.hiptics.com/2009/02/25/president-obamas-full-address-to-congress-about-economy/

[Poker Stimulus Package] Gambling911. Retrieved from http://www.gambling911.com/poker/world-series-poker-stimulus-special-hit-060109.html

[The Stimulus package]. Toonpool. Retrieved from http://www.toonpool.com/cartoons/the%20stimulus%20package_34779

Introduction:

Economic recession is a bone of contention that we, Americans, are eagerly discussing. We are enthusiastic not because it’s a very interesting topic, but because we are actually in the recession, which caused 936,439 homes lost to foreclosure just in its first year (United State Senator for Connecticut, 2008). According to the statement of Romer (2009), the recession that we are facing was given an unfriendly name, “worst since Great Depression.” In order to regulate this crisis of the economy, the government of the United States has intervened in the financial system by the act of passing the $787 billion stimulus bill of the new president, Barack Obama. However, Americans seem very opposed to this stimulus package that just gone through by the law on 02/17/2009. Americans should change their adverse perspectives and reactions about president Obama’s stimulus bill because this was a right decision at the right time, in the downturn of the economy.

Our injured economy is calling out for the healing and rescuing from the government, consequently, the stimulus bill of Mr. President is one of those obligatory interventions that government must do soon or later. Necessarily, we need to seek for the root of how this stimulus