Stimulus for the People

          The United States of America just made history by electing our current president and he automatically went to work on a stimulus package of $787 billion dollars which President Obama signed into law on February 17, in the city of Denver, CO. The stimulus package is designed to help big business, mostly banks and the auto industry, make it through the recession without having to go bankrupt. There are also some measures included designed to stimulate job growth and to attempt to keep people from losing their homes through foreclosure.

          According to the New York Times on February 3, 2009, automobile sales for the big 3 automakers were down approximately 38 percent resulting in the lowest January sales since 1963. RealtyTrac.com quotes an 81 percent increase in the number of foreclosures in 2008 and the Bureau of Labor Statistics has the unemployment rate currently at 7.6 percent in January. All of these problems could be solved by one stimulus package that would cost the country approximately $310 million instead of a whopping $787 billion.

          If each person in the U.S. was given $1 million, the recession would all but end. The people who have mortgages would be able to completely pay these off therefore ending the foreclosure crisis as well as bailing out all of the financial institutions that hold these mortgages. There would be enough people buying new vehicles to help the auto makers with their bailout. They would still need to restructure to avoid the current problems with finances. This $300 million dollar stimulus package would also further boost the economy through increased buying and investing by the general public. By helping the people, the government will be boosting the economy and aiding business at the same time.