Could the economy 6 months ago be another replica of the Great Depression? People from left and right are being unemployed. Also, the Bush administration did not do a good job in keeping the government straight. Therefore, banks went in to bankruptcy forcing the Obama administration to find a solution. Many people believed that another great depression was among them. But, that was the past, today the economy is not looking as good, however, it has been doing much better. What happened during the 6 months that made this economy look a bit better? I believe the massive spending on the economy has done it. There was a $700 billion bail out to help the economy, then Obama’s $787 billion stimulus package. If $1.4 trillion dollar could not help the economy then what can help the government? But, the money could have been spent much more wisely, such as combining the two $700 billion to make a greater stimulus package. However, the spending was separated in time by at least 3 months. As for the current stimulus package economists thinks that $700 billion dollars is not enough cover the tasks of the stimulus package. The stimulus package has many purposes, some purposes are giving tax credit to people that meet some circumstances. Another purpose is to improve education and advance technology and science. Also, to help the many of those who were affected by the economic downfall. But, why is there even a crisis in the first place? I blame the lenders that were satisfied with lending money to people who couldn’t pay mortgages.
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