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A Look at the Stimulus Package After a Year

It has been a year since the stimulus package was passed and after the one year anniversary, a lot has been spoken about it. Different parties have different opinions about the effectiveness of the stimulus and we can say that both the parties have a point. The democrats have praised the controlled spending to be the economic savior for the country. The republicans, however, mock President Barrack Obama’s stimulus for its failure at stopping job losses and for adding around $850 million deficit to the country.

On the positive side, the stimulus did provide a temporary cushion to the economic downturn. The plan was to create or save 3.5 million job opportunities in 2 years. Most economists have checked the figures and concluded that this is on track. It cannot be denied that this has helped the country during the difficult economic times. It is a strong argument that the creation of these jobs doesn’t make a very big difference when 8.4 million jobs have been lost since the onset of the recession. This can be called a misfortune for the Democrats but the economy of the country is too big to expect the government’s one time boost in spending to make a big difference.

One of the most noticeable things is that the public doesn’t seem to believe that the stimulus has done much in increasing job opportunities. A lot of surveys including ones done by CBS news and New York Times proved what the general public believe. Only 6 percent of the people who took part in the poll believed that the stimulus has made a difference.

The stimulus has been blamed for wasting resources and not setting the spending priorities right. This stimulus plan is a very small one but as billions have been set aside to be spent on roads, bridges, etc, the rise in job opportunities cannot be doubted. Although it is understandable how the public doesn’t understand the plans, it is clearly wrong to blame the stimulus as being responsible for the deficit problems of the country. It has to be understood that the stimulus package was passed when the country was in a bad economic state with $8 trillion in debt and a falling economy.

One has to admit that if not for the stimulus package, the economic condition of the country would have been worse. The states would have had to go through a very bad time if the federal government hadn’t stepped in. Although the stimulus hasn’t been the success it was expected to be, it cannot be denied that it has cushioned the economic fall very well. It may not have created as many jobs as expected but it had saved and created a significant number of jobs helping millions in the process. One cannot expect the government to spend more than it has and there is no denying that whatever has been planned and executed in the stimulus has helped the country.

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