Obama's Stimulus PackageYou would have had to be living under a rock, inside a cave, with the wool pulled over your eyes and your ears plugged to not know that the world is facing one of the worst economic crises in history. Economic analysts have traced the problem back to the bursting of the United States housing bubble, a crash so large and so rapid that its shock wave caused ripples in many other sectors. Although the housing crunch may have been the catalyst, we are currently seeing problems across the board: in Wall Street, with the Dow Jones Industrial recently plummeting below 1990 levels; in American industry, with numerous factories going out of business or laying off a large chunk of their work force; and in general consumer confidence and buying power, with retailers scrambling to obtain even minimal sales. Our current president, Barack Obama, has come into office during one of the most tumultuous periods in recent history, and has huge issues to tackle. One of his first actions as president has been to implement the American Recovery and Reinvestment Act of 2009 (ARRA), despite the Republican minority's best efforts to squash the bill. The ARRA is a large-scale, sweeping plan for reform, with a multi-faceted approach to rebuilding our economy. Some of the most important aspects include creating jobs through infrastructure projects, cutting taxes for the lower income brackets and for companies that comply with specific regulations or plans, and extending unemployment and low-income benefit plans. Along with these fast-acting sections, there are several plans that will help our nation become more stable in general and more competitive in the long term. Sometimes a crisis is needed to spark a revolution, or to inspire a nation to come together and work for a better future. Obama has taken advantage of the opportunity he has to truly pull the country back up onto its feet. His long-term improvement plans may appear to his critics as frivolous spending at a time of deficit, but time will show that we are buying a better future at a bargain price. Building healthcare programs to ensure the well-being of American citizens will allow for increased productivity, longevity and quality of life. Stimulating scientific and technological advancement will create valuable industries that allow us to export not only products but innovative intellectual property. And perhaps most importantly, investing in new, green energy technologies will wean us off of foreign oil dependence, create a greater proportion of jobs per kilowatt hour than the petroleum industry, and help us make the necessary steps to a clean future. We must be optimistic and work together to pull ourselves out of this slump, and overcome these hard times. We must not let petty partisan bickering get in the way of true progress. Now is a time for cooperation, and anything less than bipartisanism will surely prolong our current woes. Obama has repeatedly invoked the admirable president Abraham Lincoln, for good reason. At the moment, our is a nation divided, ideologically and politically. Lincoln was able to mend the breach and bring the nation back together as one. Our current President will do the same, but he needs all the help he can get. Support for the unity and success of our nation means support for the stimulus plan. |