This will be accomplished through a variety of initiatives, including an expansion in the funding of food stamps and an increase in spending on the free school lunch programs that are offered for low income students in public schools across the country. On top of healthcare spending and hunger prevention, the stimulus also adds funding to the social projects of job training and education programs. Job training is essential, as it will allow dislocated workers the necessary learning opportunities to adapt and find new careers. Education, likewise, will get a boost.
This includes three main initiatives: expanded funding for the IDEA special education program, larger Pell grants for low-income college students, and greater funding for low-income students in public schools (Recovery. gov, 2009). Together, this social aspect of the bill is designed to operate as a strong safety net for society’s most vulnerable, allowing them to stay afloat through these tough and turbulent economic waters. Between these four prongs—tax cuts, aid to state and local governments, infrastructure, science, and energy projects, and social spending, the Obama stimulus plan is an ambitious effort of a wide scope.
If the $789 billion is used effectively, it has the potential to turn around our dire circumstances and rebuild the American dream. Yet, only time will tell how effective the plan will be, let’s hope that Obama’s promise for change will include a change from economic collapse to economic prosperity once more. Summary: The American economy is in shambles. Because desperate times call for drastic measures, the Obama administration has successfully passed one of the largest spending initiatives in American history.
The plan, called the American Recovery and Reinvestment Act of 2009, is a $789 billion behemoth, aimed at coddling the ill American economy back to full health. It is an ambitious program, but it may well be the first step forward and stemming the economic downturn and rebuilding the American dream. To do so, the stimulus plan, or ARRA has four main spending areas. First, massive tax cuts are intended to put more money in the pockets of American workers, in turn allowing them to boost business profits through consumer spending.
Second, aid to state and local governments is intended to plug budget holes and ensure that essential programs are not eliminated at times when they are most needed. Third, spending on infrastructure projects, scientific research spending, and energy policy development is aimed at creating immediate jobs. The plan itself is projected to create 3. 5 million jobs in total. Fourth, and finally, the plan spends considerable on social initiatives, such as health care, education, job training, and hunger prevention.
These social costs are necessary safety nets to catch society’s most vulnerable and ensure that they do not fall by the wayside in this tough economic climate.
“Electronic Medical Records: The Benefits Significantly Outweigh the Costs. ” The American Consumer Institute. 7 March 2008. Available from: http://www. theamericanconsumer. org/2008/03/07/electronic-medical-records-the- benefits-significantly-outweigh-the-costs/. Accessed 16 February 2009. Recovery. gov. “Your Money at Work. ” The United States Federal Government. Available from: www. recovery. gov. Accessed 16 February 2009.