Tuesday, December 15, 2009

Democrats propose $50B for jobs-boosting projects

The democrats wants to add close to $50 Billion in spending on highways, housing and school repairs in hopes of creating more jobs. I feel that this sounds like a promising plan, however why not have a preliminary test run first with a smaller amount of funds ? It is obvious to everyone that we have been financially extended for some time now, and if the plan fails, we will only be making an already financially straining situation even worse. The bill will most definitely come under scrutiny from Republican party, who feel that February's $787 billion economic stimulus bill has had a minimal effect in boosting the economy and has not been proven effective against preventing the unemployment rate from hitting double digits. The article ends with "all of the money is simply added to the nation's $12.1 trillion debt since the unused bailout funds would otherwise go unspent." When the nation's debt is this astronomically high, why would we risk adding to that, especially when the plan is not a guaranteed sure thing ? There are plenty of other options to boost jobs to consider.

http://finance.yahoo.com/news/Democrats-propose-50B-for-apf-1316281313.html?x=0

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