I believe that Obama and his administration are leading this country into the ground, economically speaking. I do not doubt Obama's (or anyone else's) intentions because I know that they are sincere and mean the best. And I'm certainly not sitting here and bashing Obama and his team for not working hard, because they were in-fact handed a huge mess when they took over. However, the economic reforms since they’ve been in power have made things worse.
The American Recovery and Reinvestment Act of 2009, for starters, was supposed to reinvigorate an economy that was spiraling out of control in a recession. Sadly, it has done the opposite. It was primarily focused on health care, infrastructure, extended unemployment benefits, middle-class tax cuts, and many other categories. Their plan was to use 787 billion dollars, divided into different projects and categories, in an attempt to create or save many jobs. 3 to 4 million to be exact. Yet, since 2009 when the bill was passed the unemployment rate has steadily increased – at times reaching the 10% mark or even higher. Since its passage in 2009, much of this money has been wasted and nowhere near 3 to 4 million jobs have been saved.
I would propose a commonly found theory of “Trickle-down Economics.” In this theory, tax-cuts would be given to small business thus encouraging them to expand because of the cheap capital. Expansion of companies means more jobs. And all of this could be done with little government interference. I’m not pretending to know exactly how to pull this country out of the recession. All I’m truly certain of right now is that the methods right now are failing (economically) and we need to rethink our strategies.
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