Essay about $700 Billion Economic Stimulus Bailout Package

In 2008, the American economy broke down. Known as the Global Financial Crisis, this is widely considered to be the worst financial crisis since the 1930’s when the stock market crashed and the Great Depression hit.

The purpose of my research is to discern how welfare spending, healthcare spending, defence spending, and pension spending impacted vote choice in the 2013 Australian election in comparison to the 2012 United States election, 2013 German election, and 2012 France election. I expect that as support for welfare spending, pension spending, and healthcare spending, decreases, support for right wing parties will increase. I expect that there will be a positive effect on voting for right wing parties as support for defence spending increases. I expect that of these issues, welfare spending will have the largest magnitude and that pension spending will have the lowest magnitude. I do not believe there will be an additional effect in Australia and that the impact will be similar to that of other industrial democracies.

It takes very little to disrupt the slow healing progress our nation has undertaken in the wake of the financial crisis of seven years ago. As President Barack Obama \has put it, by signing the Affordable Care Act into law, “everyone should have some basic security when it comes to their health care” (Stolberg, Sheryl Gay) . Something as influential as a universal health care bill is no exception to the scale. While many are concerned of the repercussions this will not only have on employment opportunities but also higher taxes, there is a flipped side to the Affordable Care Act. As in its name, health care should be affordable for people of all tax brackets

For many years America was the lone superpower in the world after the collapse of the USSR in the 1990’s. During this same decade, America saw the internet revolution and a surplus in the budget for the first time in a long time. This meant that the economy was surging, and a lot of internet companies saw their stocks rising rapidly and their shareholders also sharing in the profits. This all came to a quick end in the 1990’s with the “dot.com” bubble popping resulting in a downturn at the end of the decade. This compiled with the events of 9/11 a few short years later created a large amount of instability throughout the economy of the country, with this uncertainty looming it only took a few more years for the housing market to collapse due to oversaturation of the housing market. Then finally in October of 2008, the auto industry took a nose dive along with a banking crisis shortly

The Deferred Action for Childhood Arrival program (DACA) has helped stimulate the United States financially; by canceling it the Trump Administration has doomed our economy. Lawmakers have quite a task ahead of them as they try to traverse the tumultuous territory that is the DACA cancelation. However, one of the largest, if not the largest, problems that this move has created is the threat it poses to the nation’s economy. Bombastically, the Trump Administration made a move that seemed to be supported by its followers. Yet, further analysis of the cancelation seems to greatly cripple the United States, estimating that the nation stands to lose $215 billion if the former DACA recipients are deported.

The American Recovery and Reinvestment Act of 2009, otherwise known as the Stimulus Bill, was one of the first major pieces of legislation passed by the new Democratic Congress in 2009 and signed by newly inaugurated President Barack Obama. The legislation was an attempt to take the United States economy out of a major recession through federal spending. The motivation for this bill was the collapse of the housing market bubble and the mortgage crisis. A result of these problems was the decline of consumer and corporate credit, causing monetary liquidity in the economy. Obama argued that the economy needed a “jump-start” to get moving again; that being the stimulus of 2009. Drafts for the bill called for as little as $275 billion in spending,

portrayed as a wild success that has allowed families to “move from dependence on welfare to

Thank you for your response. I am glad you mention the stimulus checks. To be honest with you, the stimulus checks were a joke and an insult to hard working middle-class people and small businesses. Large Corporation received the biggest bailouts in history, not once, but two or three times. Small businesses like mine, received a $219.00 check, that’s all. That was not even enough to pay the electric bill that cost over $800.00. Granted, our business was not in trouble like most small businesses but, compared to the millions of dollars given to larger companies the government could have given more. With the millions and millions of dollar given to the larger corporations to prevent them from going under, no stipulations were added until later.

Prior to the great depression, the U.S. economy alternated between periods of prosperity and sharp economic decline. During the great depression, aggregate demand dropped sharply, causing the price level and real GOP to decline. As aggregate output declined, the unemployment rate jumped, climbing from around 3 percent in 1929 to 25 percent in1933.

The banking crisis of the late 2000s, often called the Great Recession, is labelled by many economists as the worst financial crisis since the Great Depression. Its effect on the markets around the world can still be felt. Many countries suffered a drop in GDP, small or even negative growth, bankrupting businesses and rise in unemployment. The welfare cost that society had to paid lead to an obvious question: ‘Who’s to blame?’ The fingers are pointed to the United States of America, as it is obvious that this is where the crisis began, but who exactly is responsible? Many people believe that the banks are the only ones that are guilty, but this is just not true. The crisis was really a systematic failure, in which many problems in the

Five years on from the beginning of the worst financial crisis he world has seen we are still in a perils state of low or negative growth and low interest

…I asked my nominee for chair of the Council of Economic Advisers, Dr. Christina Romer, and the vice president-elect's chief economic adviser, Dr. Jared Bernstein , to conduct a rigorous analysis of this plan and come up with projections of how many jobs it will create—and what kind of jobs they will be… The report confirms that our plan will likely save or create 3 to 4 million jobs… The jobs we create will be in businesses large and small across a wide range of industries. And they'll be the kind of jobs that don't just put people to work in the short term, but position our economy to lead the world in the long-term… The jobs being created by the House bill could cost as much as 2.5 times more than jobs created without the stimulus bill. (Grassley)

Taxes are the dollars that we pay to government to supply the services that are not or can not be provided through the free enterprise system. Taxes have been around since the beginning of organized societies. They come in various forms. Most common are income taxes both federal and local government. These taxes are assessed on the amount of income a person earns. Other taxes come in the form of user taxes; these taxes are imposed on the people that are using the goods being taxed, such as gas tax, alcohol tax, sales tax, and luxury taxes. Property taxes make up the major revenues for local and city governments. Furthering the burden of taxation are taxes that are attached to such bills as utility

There has been a debate for years on what caused the Financial Crisis in 2008 and if there was one main cause, or a series of unfortunate events that led to the crisis. The crisis began when the market was no longer funding many financial entities. The Federal Reserve then lowered the federal funds rate from 5.25% to almost zero percent in December 2008. The Federal Government realized that this was not enough and decided to bail out Bear Stearns, which inhibited JP Morgan Chase to buy Bear Stearns. Unfortunately Bear Stearns was not the only financial entity that needed saving, Lehman Brothers needed help as well. Lehman Brothers was twice the size of Bear Stearns and the government could not bail them out. Lehman Brothers declared bankruptcy on September 15, 2008. Lehman Brothers bankruptcy caused the market tensions to become disastrous. The Fed then had to bail out American International Group the day after Lehman Brothers failed (Poole, 2010). Some blame poor policy making and others blame the government. The main causes of the financial crisis are the deregulation of banks and bank corruption.

Small businesses are contrived to give all of their employees health care due to Medicare. Through the terms of ObamaCare, small businesses are compelled into closing their doors because of all the hand outs they have to get to their employees. When small business begin to become more successful and make more money, Medicare takes their profits away and gives it to people who don't really need it. ObamaCare and Medicare have both taught ignorant Americans to not get a job because they can get the same amount of money in the form of a hand out instead of actually working for it and contributing to the economy. The tax breaks for small firms and other factors are reliant by how much small businesses spend on health coverage (Harrison). Tax