Economic Stimulus Package

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Economic Stimulus Package

  1. 1. The Economic Stimulus Package What it is, what it does, and what it means for you.
  2. 2. background • we know that the economy is not doing well right now. • largest recession since the 1930’s. • remember what government agency tries to regulate the economy? • who takes care of monetary policy? fiscal policy?
  3. 3. the plan • the Obama administration is hoping that by increasing spending and tax cuts, people will start spending money again & that will fix the economy. • republicans agree that the economy needs help, they just think it should be done differently.
  4. 4. democrats’ plan • use spending to stimulate the economy. • how does spending help the economy? • improve infrastructure, build/renovate schools, develop “green” industries, etc. • what does this sound like from history?
  5. 5. republicans’ plan • stimulate the economy with tax cuts. • let people keep more of their own money and that will improve the economy. • smaller government = better government
  6. 6. what got passed • $787 billion bill • only 3 Republicans supported it in the Senate, none in the House. • $70 billion in tax cuts, the rest in spending • Obama “not ruling out a second stimulus bill.”
  7. 7. what does this mean? • tax breaks for buying new car or first house. • sdditional $13 per month for workers. • most economists say most job creation will happen in 2010. • www.recovery.gov tracks all the spending.
  8. 8. what do you think? • what should the government do, if anything, to improve the economy? • on a separate piece of paper, write AT LEAST one solid paragraph to turn in. backup your opinion with reasoning.

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