President Obama's Stimulus Package for the U.S. Economy

Topics: New Deal, Democratic Party, American Recovery and Reinvestment Act of 2009 Pages: 4 (1350 words) Published: April 12, 2009
President Barack Obama's stimulus package for the United States will be a successful effort in putting the American economy back on it's feet because of it's awareness of which programs were successful in the legislation utilized in Franklin D. Roosevelt’s “New Deal” and which were not In a time of economic crisis, Barack Obama has compiled a series of government programs that will give the economy a much needed shock. President Obama's $819 billion stimulus package has already been referred to, many times, as the “new New Deal”. But this plan packs more punch than FDR's “New Deal” and intends to fill up every nook and cranny of financial instability all-across America with government dollars. Although it is totally fair to name President Obama's plan after the “New Deal”, having many programs similar to the FDR's plan itself. The program with the largest chunk of this sum of federal dollars is the $275 billion plan to provide direct tax relief to about 95 percent of employed American, along with aiding American businesses to increase employment rates. This is a plan that FDR's number of bills seemed to be lacking when we look back at the panic of 1933 and how it was handled. The plan put together by President Obama is just far more thorough and expansive when compared to FDR's and it will bring the U.S. into a much needed state of recovery.

The single most budgeted section of the plan is the tax relief portion. This is a much needed portion of the bill with generous numbers. This part of the bill is fairly straight forward, starting off with a small “trickle” of money being added to employed American's paychecks and a slightly larger addition to unemployed American's benefit checks. President Obama’s tax plan will ensure a credit for up too 500$ for you average American and $1,000 for married individuals. Approval seen by the Tax Policy Center, a group of researchers affiliated with neither party, is nothing but a good sign for the bill. The Tax...

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