Obama Stimulus Package
- Submitted by: mick
- Views: 915
- Category: Politics: Economics
- Date Submitted: 09/27/2010 07:01 PM
- Pages: 12
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Economic Stimulus Analysis Project
Introduction-
We will not rebuild our economy on the old model of bubbles and busts. We'll only climb out of the current crisis by creating a new, sustainable foundation for our economy's future and make the tough choices to put our economy back on the road to long-term prosperity. President Obama inherited a terrible mess: a $1.3 trillion deficit, two wars, rising unemployment and unprecedented crises in our banking system. The Obama Administration has worked tirelessly to address our immediate problems of rising unemployment, falling home prices and limping credit markets, while taking a longer view in laying a strong foundation for future economic growth that benefits all Americans. We are fighting for economic recovery on all fronts. President Obama's recovery package aims to: Double within three years the amount of energy that could be produced from renewable resources, an ambitious goal given the 30 years it took to reach current levels. Advisers say that could power 6 million households. Upgrade 10,000 schools and improve learning for about 5 million students. Save $2 billion a year by making federal buildings energy efficient. Triple the number of undergraduate and graduate fellowships in science. The plan would spend at least 75 percent of the total cost or more than $600 billion within the first 18 months, providing a massive infusion of cash to the struggling economy, either through bricks and shovels projects favored by Democrats or tax cuts that Republicans have pushed. Either could produce progress the administration could point to if it needs to justify a second economic package. The broad plan puts heavy emphasis on infrastructure that crumbled as state budgets contracted. Governors have lobbied Obama to help them patch holes in their budgets, drained by sinking tax revenues and increased need for public assistance like Medicaid and children's health insurance. Obama's plan would increase the federal...
Introduction-
We will not rebuild our economy on the old model of bubbles and busts. We'll only climb out of the current crisis by creating a new, sustainable foundation for our economy's future and make the tough choices to put our economy back on the road to long-term prosperity. President Obama inherited a terrible mess: a $1.3 trillion deficit, two wars, rising unemployment and unprecedented crises in our banking system. The Obama Administration has worked tirelessly to address our immediate problems of rising unemployment, falling home prices and limping credit markets, while taking a longer view in laying a strong foundation for future economic growth that benefits all Americans. We are fighting for economic recovery on all fronts. President Obama's recovery package aims to: Double within three years the amount of energy that could be produced from renewable resources, an ambitious goal given the 30 years it took to reach current levels. Advisers say that could power 6 million households. Upgrade 10,000 schools and improve learning for about 5 million students. Save $2 billion a year by making federal buildings energy efficient. Triple the number of undergraduate and graduate fellowships in science. The plan would spend at least 75 percent of the total cost or more than $600 billion within the first 18 months, providing a massive infusion of cash to the struggling economy, either through bricks and shovels projects favored by Democrats or tax cuts that Republicans have pushed. Either could produce progress the administration could point to if it needs to justify a second economic package. The broad plan puts heavy emphasis on infrastructure that crumbled as state budgets contracted. Governors have lobbied Obama to help them patch holes in their budgets, drained by sinking tax revenues and increased need for public assistance like Medicaid and children's health insurance. Obama's plan would increase the federal...