Is this the Obama people want? (Picture from Macyapper blog)
I mean that’s the last I heard – right?
I listen to these critics of the impact that the stimulus has had on stimulating the economy as reports today mention the reports on jobs created by the Recovery Act. We have people critiquing the stimulus for not working more and have people denying it worked at all – analyzing the nuances of each word used to define the purpose of the bill as a way to identify it as unsuccessful.
But let’s just keep it real – the economic stimulus worked. It is called a stimulus because it is supposed to stimulate. Economic precedes stimulus because the stimulation was supposed to effect the economic state of U.S. citizens.
It worked, simply because the U.S. economy has reported an up-tick in growth for the first quarter since these economic hardships hit the country. That means stimulus in my book.
Sure, the unemployment rate is higher than the U.S. average, and it affects the livelihood of average American citizens. But some jobs have been created or saved.
Sure, there were just reports of bailout money being used inefficiently by bailed out companies in the financial sector. That shows inefficency and diminishes the impact the stimulus could have as a trickle-down effect to the American people. But the DOW has finally moved back beyond 10,000.
But just because there are remnants of an issue, doesn’t mean the issue has not been addressed. Nor does it mean that anyone in the Obama administration is being complacent on creating aggressive or “correct” policy to jump start the economy.
He is darned if he does, darned if he doesn’t. While the stimulus/bailout mess was being considered, critics purported the government should let the “market correct itself”. Sure, if we didn’t mind letting individuals and small businesses that couldn’t compete or maintain suffer through these hardships. Then when things have settled and the Administration sits back to let the stimulus work, critics purport the government stimulus wasn’t enough and that the government should have intervened differently. Really people?
As with most things in life, there must be a balance. This economic situation needs some jumpstarting by the government. How do they accomplish that? By spending money when no other company or individual is willing to, hopefully on things that will encourage future spending by these entities. But it also needs some reliance on self-correction. If your dad was always 1 step behind you holding your bike steady as you learned to ride without training wheels, you would never really know what it means to ride a bike correctly, because your confidence will be in the force behind you, and not the force within you.
Balance in expectations is important too. The economy is not Lazarus, and Obama is not Jesus. Although times are rough, it does not make it any more likely that Obama or anyone in his administration can raise the economy from a catatonic state by simply saying “rise up, and shed your grave clothes.”
Admitting the economy has progressed doesn’t forfeit your right to say that the economy needs more help. We are not where we want to be, but we definitely have the right policies in mind, if we can identify some non-sporadic increase in jobs, GDP, etc.
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