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Have you ever stepped back and thought about one of the original reasons the 2009 stimulus act was created and how it measures up to what actually happened? The stimulus act was originally set up to provide new jobs to help with the ever raising joblessness rate. If you look at how the money was split up, it didn’t do very well to create new jobs.
By tracking the money it was split up into roughly three thirds.
The first third was used as tax breaks to those that already had jobs. Yes, it was nice for those of us that had jobs, but the little amount that we did save was meant to be spent to stimulate the economy. Which is hard to track how well that worked out.
The second third was used to add funds to health care and education budgets to help teachers and other people make it through the falling incomes collected by taxes to pay salaries. Teachers and other people in this field keeping their jobs is a good thing, since teachers are teaching the youth of America. That is a field we can’t do without.
The final third was meant to create new jobs. The money was sent out to grants and other channels with the intention of hiring those that didn’t have jobs. The road improvements by far did the best for creating jobs and also doing something that has been needing to be done for a while now. As for the rest of it? There have been numerous reports of spending the money on needed upgrades in equipment and keeping people on payroll instead of laying them off. With very little going towards hiring new people.
How did it fair, not very well if you ask me.
To figure out how this relates to the 2009 and 2010 stimulus checks that money would have been part of the tax breaks. It has been helping people keep afloat in this tough economic times and not really spent on random things to keep the economy going.
The tax breaks aimed at the housing market to incentive people buying new homes was great. It worked well, and then the time passed where it wasn’t active any more, and now the housing market is in another slump.
As far as we have come through these times, we aren’t out of the wood yet.
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