Follow Barack Obama prior and during his tenure as the 44th President of the United States. Read about my personal observations along with every day facts as they happen. This blog will only submit factual information about the first black President, now in his 2nd term of office.


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The $787 Billion Economic Stimulas Bill is now the Law of the Land

Wednesday, February 18, 2009

Vice President Joe Biden looks on as President Barack Obama signs the economic stimulus bill on Tuesday during a ceremony in Denver.

Obama signed the $787 billion Economic Stimulus bill today, which is now known as the American Recovery and Reinvestment Act. It's too early to tell if it's going to work, because the money hasn't started flowing yet. President Obama acknowledged the fact as he said "Today does not mark the end of our economic troubles,"
The year of 2009 will prove disastrous to the American people. It will take nearly the entire year before the people start to feel the effects of the Economic Stimulus bill.
Now, the only thing we can do as citizens of this country is wait and see. More people will loose their jobs, and more people will loose their homes, while savings accounts will dwindle.  If the economy picks up pretty quickly, then the President will gain more popularity, and most likely will already be enough to get him re-elected in 2012. But if the economy continues to tank, and continue in its spiral downfall as it is presently, President Obama will loose his popularity and most likely will not run for a second term. His fate is already sealed with the stroke of his pen when he signed the bill into law today. His job is riding on it. He is not a quitter by any means, but if he acknowledges that he has done a travesty for the people of this country, I think he would want to step down. But then again, the great life for him and his family will be something that he would not like to relinquish so easily. Living in the White House, and to be the most powerful man in the world, is something that he worked hard to achieve.  Regardless, I truly believe that Barack Obama is trying to do everything he can to turn this country around and pull it out of economic disaster. At this point in time, no other person seems to have the ability to do so.
It is also apparent that only a Democratic President, one who is willing to take the chance in order to right the economy of the entire world, would be a leader that we need in this modern time. Could either Presidents Bush be able to handle the economy. I think not, because both of the Bush's refused to think that the economy was failing. I believe that the economy showed signs of a downward trend years ago, but President Bush did nothing to prevent what has happened. His advisers had to have had some information that the economy was tanking some time ago.
President Bush inherited the title as the President that fought terrorism. He didn't have a choice. President Obama has inherited the title as the Economic President. He did have a choice, and in just 3 weeks, he now has the credit of pushing the largest bill through Congress regardless of how reckless some liberals and conservatives think of how he may have accomplished his goal.
The real test will be the jobs situation. When the job market rises and people feel secure again to purchase, businesses will thrive again, and the stock markets will again start their steady rise.

Only time will tell.


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