Let’s look at the evidence: Consumer spending is growing. This has a multiplier effect throughout the economy as each sale creates sales throughout the supply chain. Business investment is rising, at a whopping 18% annual rate. So the people who currently have jobs, just like the business owner, start to feel more secure and start to take more risk (buying things)...
This morning, federal officials released details of the Obama $75 Billion loan modification and refinancing plan for foreclosure prevention. This plan follows the $8000 first-time homebuyer tax credit initiative unveiled in late February.
It is clear is that the Obama administration is dead serious about allocating financial resources (and taxpayer money) to stimulate the economy through investment in finance, banking, and home-ownership. Because these subsets of our economy are to a large degree interdependent, it is imperative to stabilize all of these sectors simultaneously to effectively begin to stem losses and boost confidence.
Will these initiatives serve as a catalyst for growth?
President Obama gave his first official address to a joint session of Congress last night. I, much like many others, blocked aside time to watch President Obama address the nation, and more specifically, address the state of the overall health of our economy in general.
President Obama understandably focused the majority of his speech on the economy—the issue that is on the minds of every citizen of this great country. He laid out an economic recovery plan that was large in scope and complex in nature; an aggressive plan that has the hopes of a nation riding on it. After listening to his speech and subsequent rebuttal by Gov. Bobby Jindal (R), I am fairly certain of one thing- I firmly believe