Economic Stimulus Bill

The Economic Stimulus One Year Later: Signs Of Moderate Success!

It has been a year since the Economic Stimulus bill passed, with no help from any Republicans except Arlen Specter (when he was still a Republican), Olympia Snowe and Susan Collins.

A year later, it is estimated that 1.6 to 2 million jobs were saved or created, and without that legislation, we would have had 10 million people who have lost their jobs in this recession, rather than the very high 8.4 million in reality today.

Many of these jobs were SAVED, which does matter, including public service jobs that many take for granted. But could the states and cities really do without the police, firefighters, teachers, librarians, social workers, prison guards, etc that would have been laid off?

Would the states and cities be better off without the economic stimulus? NO! If nothing was accomplished, why is it that 111 Republicans in Congress, who voted no, are now taking credit for the projects that are being funded in their districts?

And why did Governor Bobby Jindal of Louisiana go all over the state and take credit for stimulus money that he wanted to reject? And why is Governor Charlie Crist of Florida willing to thank President Obama last year, but this year avoids being anywhere near him? He well knows that Obama saved the economy of Florida, but of course, all these Republicans are just “playing politics”, trying to have it both ways–criticize the program but take credit for its success!

So despite what Tea Party people and Republicans and conservatives say, the Economic Stimulus legislation has been successful! While we are still in a disastrous economic condition, we would be now in a DEPRESSION, if nothing had been done! Instead we are in a recession which, very slowly, will start to recede.

Already there is evidence of construction activity increasing, a very important barometer of the future economy, and we have seen economic growth of nearly six percent, as compared to the earlier retraction of six percent in previous quarters of last year.

Patience is hard at a time like this, but Barack Obama has done the right thing, and will be so appreciated for it over time. His administration has succeeded in the first year in turning the tide of the economy, slowly but surely, toward recovery!