American people have been facing the problem of increasing bills and decreased savings recently. The newly elected president, Obama believes, that as a nation the US has to act quickly in order to regain the competitive advantage the country had on the whole world. The current American economy is going through the worst downfall in the history of the country.
More people have lost their jobs than the times after World War II Those people who need full time jobs to support their families are forcefully shifting to part time jobs. Businesses are failing to pay salaries and families are not able to pay mortgages. The average American families are curious and anxious to know what the future of the economy of this nation holds for them. President Obama thinks that this crisis is a result of irresponsibility on the part of previous governments, dangerous decisions by Wall Street executives, loans given to bad debtors by banks, taxpayers money pent in the wrong way etc.
In this regard, he has come up with an economic stimulus package. This package aims at creating 3.6 million jobs in the next two years, and also to increase consumer spending. This $787.2 billion recovery and reinvestment plan is intended to shorten recession. He believes that being confident, as he is about his decisions, is they solution to the problem.
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