Obama's Stimulus Plan

     Obama's proposed stimulus plan plans to jolt different aspects of the economy. Firstly, his plan highlights cutting payroll taxes by almost half and also cutting taxes for companies hiring long-term unemployed people. Obama also wishes to spend money on improvement of public schools and community colleges as well as a project for rebuilding homes, called "Project Rebuild". As for the long-term unemployed (nearly 43% of the unemployed) Obama wishes to extend unemployment benefits. He also wishes to subsidize job training for a stronger work-force.
    The ideas proposed all support a stronger economy in the long run. Even though the plan will not help the current dept crisis very much, in the long run Obama's plan will inject money back into the economy because of the larger-scale employment rate he envisions. Specifically, increasing unemployment benefits will help people get back on their feet while they search for a job and will encourage them to not give up, therefore not falling out of the unemployment census. As for the amount of jobs available, the government spending money on new infrastructure such as improvement of schools and colleges, would not only increase jobs needed in the short run such as construction work but also in the long run because more teachers will be demanded. I agree with Obama supporting employing the long-term unemployed because these people are more likely to give up searching for a job and create more problems to society such as an increase in crime rates. People who have been searching for a job for a shorter period of time, will still have a chance to be employed just as much as the long-term unemployed.



Information from: http://money.cnn.com/2011/09/08/news/economy/obama_stimulus_plan/index.htm?iid=EAL