Description
FederalBailout and Stimulus Spending
1. Stimulus Package from February 2008 | 168 Billion |
2. Fannie Mae, Freddie MAC | 200 Billion |
3. AIG | 22.8 Billion |
4. Financial Bailout | 700 Billion |
5. Auto Bailout | 17 Billion |
6. President Obama's Plan | 800 Billion+ |
TOTAL COST = APPROXIMATELY 2 TRILLION DOLLARS |
DISCUSSION QUESTION:
As most of you are aware, when PresidentObama assumed office the country was in an economic crisis. Decisive action had to be taken in order to prevent an economic melt-down (recession, depression?). As a result, the U.S. economic stimulus and bailout was initiated. The abovementioned breakdown represents a 2 Trillion Dollar cost for the U.S. economic stimulus and bailout alone! Not to mention that this was just a short-term fix (hopefully, to stabilize the failing economy). This money is claims on future tax-payers...you and your children! Considering the country's current situation, did this effort make a difference? Is the President's plan working? What is your opinion on this matter? In your discussions, please consider the following:
1. Economic Impact
2. Your individual rights and the rights of U.S. citizens in general
3. Employment Impact
4. The Recession
5. Consumer Rights
6. The Politics Involved
7. Global Impact
8. Personal Experiences
9. Solutions
10. What's The Future?
11. Capitalism: Is it working?
The abovemention are just suggested considerations. Please feel free to add more.
Special Note: Your participation is vital to receiving substantial credit for your Discussion and Class Participation requirements. Therefore, I expect a very conscientious effort! This question requires research and analysis. "Half-hearted" answers, and excuses will not be tolerated.
Explanation & Answer
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Effects of the Federal Bailout and Stimulus Spending
The Federal bailout and stimulus spending which was enacted as the American Recovery and
Reinvestment Act of 2009 by the US congress and given the presidential assent by president
Obama was a means of helping the ailing economy to recover. Its creation objectives were good
since it looked to create more jobs, develop heath care, boost education and generally improve
the American economy which was facing a recession. Although the program worked in creating
jobs in the first years and also saw the development of infrastructure, the effects of the debt of
financing still remains a big load to the American people.
The overall growth in the GDP per $100 billion from the economic stimulus package can be used
by some people to defend the spending but in reality, although increased government spending
increases personal consumption spending and has a positive effect on private investment, the
great spending done by the government means that th...
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