Obama and Republicans fight over economic stimulus law

| 18 February, 2014 | Reply

Five years have gone but still Democrats and Republicans are passing critics on the benefit of stimulus law signed by Barack Obama in 2009. According to Obama and its allied democrats, economic stimulus law was needed in order to revive U.S economy at that time. Stimulus law played vital role in recovering the economy from Great Recession. Well by spending almost $800 billion plus and tax relief programs really improve the economic condition of America and also created job opportunities in American market. However, Republicans are not happy with implementation of stimulus law as it is worthless and nothing to do with improving the economic conditions of U.S.newsown.Five years later, White House and critics fight over stimulus law

President Obama is going to celebrate the fifth anniversary of stimulus law that includes the American Recovery and Reinvestment Act, later this week. Economic report of almost 70 pages was issued by Obama’s Economic advisors on Monday that praises the ingredients and features of law and also list down the benefits that stimulus law has provided to American economics. One of the service stimulus law providing U.S. citizens is a continuous unharmful shield provided to families living in America from economic crisis occurred because of inadequate regulated speculation. Obama and democrats are very positive on signing of American recovery and Reinvestment Act, in 2009, because this economic stimulus law is one of the big reasons that played a vital role in improving the economic conditions of U.S and revival of economic condition to its progressive track after it was badly effected in the last year of Bush government and cause financial crisis to American economics. Democrats give all support and credit to this law in improving and providing prosperity to American economics.

Additionally, Republicans boycott the stimulus Law signed by Obama’s government. Meanwhile, according to them the law will not improve the economic conditions and federal debts, contrary it will increase dept on the shoulders of Government and American people that will lead to major financial crisis in future. On the contrary, they will condemn the law of improving American economics and Reinvestment Act. As reported by Republicans, this stimulus program is a failure on part of Obama government policies as Good times have not yet returned. Also still there is unemployment and downsizing is going on by most of the companies and American economy is not running on the fast track. Hence, there is lot to do in order to improve the American economy in true manner.

On the contrary, white house stated that stimulus law is a success story and that program really helped America to get out from the financial crisis they were facing five years back and really paved their way in improving U.S economy and getting out from this great depression. Still there is lot to do but U.S. economy is getting better day by day and almost American economic is equal to German. However, economy stimulus program is able to revive economic conditions and economic working in business market. Economic indicators show that this program improve the economic condition to 2 to 3 percent from last year and able to put 1.6 million jobs in American market.


Category: Business, finance, Politics

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