Obama and Our Economy

We all are wondering what is going to happen to our economy. It seems that everyday that things are getting worse and worse. People are losing their jobs by the thousands. Companies that we thought would never close their doors are having to do just that. The only thing that we can hope for is that when President-elect Barack Obama takes office in January that he will be able to put into action some of the things that he has talked about.

One of the things that he has been talking about that he would like to put into action right away is another stimulus package this year. Originally the stimulus package was to be $175 billion. His goal is to increase it. We shall see what happens when he takes office. Let's hope that many of us will be smart and remember to put the money back into our country so that we might see a change in our economy.

A second goal that he would like to see happen would be that 2.5 million jobs would be created by the end of 2010. Some of these jobs would consist of people working in the energy technology field. Obama wants to get us to the point where we do not rely on other countries as much for our oil. He also wants to the problems with carbon emissions.

One thing that the country has to look forward to is a tax cut. These tax cuts would affect the low to middle income people. Obama feels that this would help the country and that the economy might turn around this way. As far as taxes go for the upper income individuals, they will eventually have their taxes raised. Supposedly, the raise will not happen right away though. Obama is thinking about waiting until 2011 to do this. He hasn't made it known what his decision is yet; but he does believe in taxing those who make more than $250,000.

As far as a spending package goes Obama and his team are trying to decide how much they want it to be. Some people are thinking that he might do a package as high as $700 billion. Even some economists agree that at least $600 billion should be spent. This should be enough to help the economy get on its feet.

Overall it looks like Obama is trying to get us back on track with our economy. We are in for some scary times though. Things may get worse before they get better. Actually, this is exactly what Obama has said. He has warned that the economy may get worse. I am glad though that we have a leader that is willing to care about his people and that is willing to try things to help our economy out. If you would like to read more about the above information you can go to http://www.msnbc.msn.com/id/27885917. This is a wonderful news article and it is where I got my information from.