This is 1 of 2 parts on my views of current plans to put Americans back to work and for the current status on bank bailout issues.
You can read in most of the major news syndications in the web this week that President Barack Obama has a new plan in store for creating new jobs in America. He is urging Congress to spend unspent dollars from the bank bailout fund to put towards more useful things such as building bridges, highways as well as funding small businesses and more.
Is this finally a good plan on the horizon?
On Dec. 9th, the President made some statements regarding badly needed jobs in America.
The president said that he is hoping for bipartisan support to use the TARP program (Troubled Assets Relief Program) to help small businesses and to bring down double-digit unemployment numbers which would be a great success.
This program has served its original purpose he said, and the cost has been much lower than we had expected, giving us a chance to pay down the deficit faster than we had thought at the time we initiated it and also allowing us to invest in job creation on Main Street rather than on Wall Street.
He also said after a White House meeting to a group of Republicans and Democrat congressional members, “I am not going to rest until every American who is looking for a job can find one”
Is Barack Obama doing a good job so far with his current efforts?
It is in the news lately that his approval rate is going down in certain areas. I will never say whether I am a Barack Obama supporter or not but I will say this,
Any President who would have went in to office at the time that he did would have faced the same problems such as he is going through, and I do admire that he had big confidence going in and was willing to take a stab at making a difference in the American economy as well as other matters that were major issues at the time and are now currently.
Let’s just hope that his plans that are on the horizon will have a positive effect on putting people back to work!
What about the banks?
It should be apparent by now that the banks that have received the bailout money in the last 13 months was not a real success. It is true that some of these banks are reporting profits which will pay some of the Government loans back, but what about all of the promises that were made to help the American people with their current mortgage debt?
Wasn’t it Barack Obama that made eloquent speeches that he would see to it that people would receive this much needed help, and to also twist the wrench to some of these banks to ensure that the people would get help modifying their mortgages?
The actual numbers are terrible as to the people that have actually received that type of help and it is in my opinion that Barack Obama needs to stay on the pursuit of making his original statements more of a reality for the people in need! You can read more about percentage facts related to this in part 2 next week.
Again, whether I am a Barack Obama supporter or not, I agree with his plans to create jobs and I will fully support his positive efforts, but I think that there has to be more of an emphasis on what these banks are doing with the Governments money!
I hope you will visit me next week for Part 2!
Also, I welcome any feedback to what I have wrote in this article by commenting below.