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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Economic Stimulus Money Used for the Wrong Reasons

Monday, March 23, 2009

As expected, most of the American public believe that bonuses are wrong in this time of the economy. But companies continue to make the argument that for them to keep their best employees, they must provide the bonuses.
Now, am I missing something here? People are trying to receive bonuses while others have to live under bridges and in the fields and try and survive the hard way. People are loosing their homes with no place to go.  I thought that the economic bailout money was supposed the help bring jobs back to the people, that would in turn trickle down and help the economy and help bring it back to work. It was not designed to provide bonuses to people who have secure jobs. It is the opinion of this editor that these people need to return their bonuses or the companies should be held responsible. One of the recent violators of the bailout money is AIG. They appear to be able to hold the United States hostage, and do it legally, thanks to a few bad decisions made by lawmakers during the creation of the Omnibus bill. Now, only when people get to work  will our economy take a turn for the better. But, is the money going to help the people who need the money? Millions of dollars are being uses to wine and dine the few people now a days that still have a job. Billions of dollars have been sent overseas to support a country that used to be run by a dictator. So now, the U.S. is footing the bill supporting these countries, while more people go hungry every day, with no place to live. Now is that crazy or what?!!! People that take the stimulus money like the employees of AIG have the complete audacity to take it, and think that they are better than everyone else.
There is a saying. 'What goes around comes around.' People who take advantage of money that should be better spent on the welfare of this country will find themselves in the future in the same boat as others. The downward spiral of the economic condition of this country is still progressing and more and more people most likely will loose their jobs.
As hard as President Obama is trying to save companies like AIG, these companies may still fail, and these people will be in the same boat, wishing and hoping that the government would provide them more help and funds so that they can continue to live. But because of their greed and jealosy by taking the money when they didn't need it to survive, I believe that some of these people will get their just reward in their future. All bonuses derived from the economic stimulus money need not happen. The government should change the law so that companies that take advantage of the system will be put on notice and they would never attempt such a stunt again. After all, it's because of the internal issues of such a company like AIG that caused this economic mess in the first place. Banks like AIG gave out bad loans that they could not collect.It will be interesting to see if President Obama finds a way so that AIG must pay back the money, and maybe be told no more funds could be available unless you return the money that was used for the wrong purpose.


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