Our future is now
Published 9:02 am Thursday, February 19, 2009
It’s an extremely bold initiative – one that teeters on the edge of insanity if you really stop and think about it – to mortgage America’s future to bail out today’s struggling economy.
But if something wasn’t done, and done immediately, this great nation may not have a future in which to look forward.
Tuesday, President Barack Obama signed the American Recovery and Reinvestment Act. In doing so, he effectively placed his young presidency in the crosshairs of scrutiny. Additionally, he did likewise for all Democratic members of the U.S. House of Representatives and the Senate.
If this $787 billion gamble backfires, Obama can say goodbye to his future plans for the White House. Ditto for the Congressional Democrats up for re-election in 2010.
But yet the President and his fellow Democrats on Capitol Hill are banking that the plan works, and works well.
It should go without saying that our economy needs a proverbial shot in the arm. Unemployment numbers haven’t been this bad since the Great Depression. Those fortunate enough to still have jobs are seeing reductions in hours and benefits as their employers scramble to find ways to keep the doors open.
The housing market is on life-support; foreclosure signs on homes are numerous; and American automakers are begging for additional bail-out money, and still promise to eliminate thousands of jobs even if they are the beneficiaries of more taxpayer money.
Even with the billions of dollars that will eventually trickle down to the state and local levels, as well as in your pockets as tax breaks, this economic recovery will take time. Meanwhile, we need to be patient and not panic.
Spend your money wisely and spend it locally where it benefits your friends and neighbors.
– The Roanoke-Chowan News-Herald