Stimulus Pakage

The stimulus package consists of 787 billion dollars and will be used to help the ailing economy. Part of the plan is to reduce home owner's current mortgage payments. This will give homeowners extra money to be used on other necessities. The stimulus package was signed on February 17, 2009 and this will, "Set our economy on firmer foundation."(This is just to help the economy and not fully fix it.) Next, a large amount of this money will be being used to help repair roads, bridges, transit,and build new schools. Also, if you are thinking of purchasing a new car or house, this package will give you tax breaks. Therefore, it is an excellent time to buy! I believe while this package lasts, the economy will grow better but the money will not last forever. The government may have to go back and think about something similar to the Stimulus Package. Also, I fear if the package doesn't work, the economy may just grow worse. An example would be, people who bought houses when the money was helping them to afford one would quickly lose their homes once the stimulus package is over. Poverty and unemployment would grow. This would happen because the mortgages would go back up to normal prices, so houses may become unaffordable. As you can see, there are many positive and possibly negative affects from this stimulus package.

Link:http://www.usatoday.com/money/economy/2009-02-12-stimulus-package-effects_N.htm

Link: http://abcnews.go.com/GMA/story?id=6886824&page=1

Link:http://topics.nytimes.com/topics/reference/timestopics/subjects/u/united_states_economy/economic_stimulus/index.html