Well, giving a complete answer would be impossible now, but the economic stimulus package is one of the major moves of Barack Obama, US President, to stabilize the poor economic condition of US. The policy was much criticized initially for not giving a speedy solution for the recovery of the economy, but now it seems that the policy is going on well, and would turnout successful in the long run. According to the recent reports, the package, if executed successfully, would aid almost millions of Americans who are trying out a way to reach a steadiness in life, after the fatal blow of financial recession. Soon after the inaugural speech Obama had also mentioned about the reverse tax cuts , and had promised that the money would be spend on the poor and needy.
Actually Obama has inherited an awfully messy situation, with almost ‘$1.3 trillion deficit’, two wars, unemployment rising to an alarming rate and the crisis of the bank systems. Right from the moment of taking charge of the President’s office, he along with his team has been working tirelessly to sort out the major problems that the country has been facing, as well as laying a firm foundation to have a strong economic growth in future, which would be beneficial for all Americans.
The three step solution that he suggests for the stablilisation of US is as follows
1. Bringing the economy back on track
2. Finding out a proper solution to fight the housing and financial crisis
3. A complete rebuilding of the US economy on a firm and sustainable foundation.
The Obama administration has been widely supported by people all over the country, including the leading business men like rod aycox
, CEO of Select Management Resources, in his efforts to bring back the economic stability of US. Many experts say that Obama’s initiatives will be highly beneficial for US in the long run and would give the country stability and save it from the crisis that it is undergoing these days.