When the stock market suddenly dropped in the fall of 2008 the American government immediately jumped into helping bail out many large companies which were beginning to fail. Examples of these actions include the bailout of Fannie Mae and Freddie Mac as well as the government takeover of General Motors. This then caused the stock market to drop even further as now people began to realize that we were in the worst depression since the Great Depression. Following the Obama Administration taking office the new President and many of his Democratic supporters in Congress passed a stimulus package worth $787 billion. However, today in 2011 these supposed economic benefits the package promised are yet to be seen. This was an extreme waste of money because since it ha not gone as planned Americans are still losing jobs that are being outsourced to foreign nations. Also by this failing the economic status of this package failing the United States risks falling even farther into bankruptcy as it has recently been downgraded from a Triple A credit rating to a Double A credit rating according to the S&P 500. If the Obama administration continues to spend money then sooner rather than later the United States will end up in a similar situation as Greece.
Thanks for the update on the money in the government and economy
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