So you think that President Obama hasn’t done enough to counter to growing unemployment rate and slow job growth? Well think back exactly 1 year ago today, and you will recall that Obama signed the American Recovery and Reinvestment Act. Or as it is more commonly known as, the economic stimulus package(although many people seem to have forgotten about it).
The package distributes over $700 billion into the U.S. economy over the span of 10 years. It includes federal tax cuts, expansion of unemployment benefits, domestic spending on education, infrastructure, and health care.
Many critics claim the package has not done enough. However, only one third of the package has been spent so far and it has already helped many states avoid budget cuts to their education and public safety. It has also added or saved an approximate 3 million jobs and has been passed along to American taxpayers and small businesses in the form of tax reductions.
More importantly, it helped prevent another Great Depression.
For those that worry government spending is out of control and cannot be sacrificed for the stability and security of our nation, President Obama has a plan for that, as well. This Thursday, Obama will sign an executive order establishing the bipartisan National Commission on Fiscal Responsibility and Reform, to make recommendations on how to reduce the national debt.
However, GOP leaders have so far declined to endorse the panel, further solidifying their role as the partisan players that will do anything just for political points.
When will they get it? Hopefully they will get their acts together and act on the best interests of the American people next week during Obama televised bipartisan health care summit on Feb. 25?
Or maybe I’m just being too optimistic...