Americans have some pretty low expectations these days. In a new poll only 38 percent of voters said they believe the $787 billion stimulus plan will help the economy.
Middle-income Americans are more likely to think the package will hurt the economy more than help it; while low and upper income individuals are more optimistic. Those making below $40,000 or above $100,000 are more likely to think it will help the economy.
What do you think of the stimulus bill?









Promod
Hussein Chalayan
Stila
...and my 13 dollars extra to my paycheck will be the most helpful of all.
1Hmmm...I know this poll hasn't been out very long, but I do wonder if ANYONE is entirely satisfied with this package the Gov't. has delivered?
Of course, dissatisfied doesn't even begin to describe how I personally feel about where our nation is at this point...
2Carrie Sue - I don't think any is satisfied from poiticians down to us little ordinary people. Of course, I realize you can't satisfy everyone, but some would be better than none.
And I really don't see the stimulus package having much of any impact.
3@ )$$$
4* @) $$$
5Darn it, it wont make the piggie face
6Don't you think that maybe the government should have been more thoughtful about what exactly the spending bill would do for our country than simply ramming their agenda down our collective throats? I want more than anything for people to get back to work. For those less fortunate to have opportunities beyond their wildest dreams. For wealth to be created by producers of this country. But this bill that Obama will sign today will simply expand the welfare state and create more government. People that do not make a lot of money may feel good that the state will care for them, but they are only cheating themselves. The bill could have been a great opportunity for all Americans to improve a once great standard of living. Businesses could have expanded. Jobs created. Opportunities created. Yet we allowed these clowns to waste money that we simply don't have on programs that for the most part will have no effect on our economy.
I would think that this country deserved better than having a bunch of elite politicians cram a bill down our throats quicker than anyone had time to read it. It is disrespectful to pray on our fears that something has to be done right now yet there was no opportunity for meaningful debate on whether this will truly have an impact.
Americans once again have let our government screw us and many stand there thanking them for it. Amazing.
7Wow, I'm really surprised no one has said yes yet. Where the Libs at?!!?
8splork, well said!
9Honestly, even though I know how to handle economic data (or at least I think so), I haven't even seen half of information about the plan that I would need for myself to judge it objectively. the spending, tax cuts, etc. have such difficult economic consequences that it actually is my honest opinion that nobody who isn't an economist and has an (scientific) idea about it, cannot know whether it will work or not.
10hell, even the economist community isn't sure whether any of the stimulus plans passed around the world will work, they're pretty divided over it. even though I'm currently studying economics, how should I know?
Obama said that every day the stimulus didn't pass would mean even greater disaster. So they pushed the thing through so quickly that the people in Congress didn't even have time to read the bill properly (even though Obama promised that Congress would have 5 days to read each bill).
And now our President is on vacation. Nice.
The stock market is not reacting well, and the bill does not address issues in the real estate or banking sectors. So no. Even though I don't know all the ins and outs of the stimulus, I don't see how it could possible help our economy. It is not direct and focused like Obama promised it would be.
11It's going to hurt the country in ways people can't even imagine yet. Anyone who thinks it will help the economy clearly has less of an understanding of economics than my cat.
12kranky, Obama has already broken so many of his campaign promises, why are we surprised that he's still lying to the American people?
13chat-
Nope and I totally agree with your first comment as well (hello, inflation). I am just shocked that the man has been in office less than a month and he's already pretty much abandoned every part of his platform that I liked. I try not to take it too personally though.
14it's not gonna do anything. i guarantee nothing will change except it will give people more to whine about.
15kranky, I think we're more than likely in for some stagflation, or, even worse (and I don't know if there's a word for it) a major decrease of our GDP, and major inflation. Pretty sickening.
I'd take it personally if I'd believed any of the crap he'd said in the first place, but I knew he was just as slimy as everyone else in Washington.
16What exactly are you "guarantee"ing with, Snarky? What proof have you that the rest of us haven't seen that things aren't going to change?
17It may help a little bit, but most people will probably save the money rather than spend it to stimulate the economy. It would just be a waste of money, even though I wouldn't mind the extra cash if it did happen (I know I can definately use it!).
What people really need are jobs so there are steady pay checks, not one check from the government. Then people will start to spend more money.
18Sugar, bellow -- just pointin' it out
As far as the bill, I believe that it will hurt the economy since it will be turning all of our hard earned dollars into monopoly money.
And did anyone else notice that a week ago, the bill had listed spending $400 million on upgrading the computer center in the Social Security Building.... If you look at the summary now, it is listed as costing $500 million. I have no idea how that is going to create stable, long-term jobs.
19exactly what ashleyrose said. people will use the money to pay their rent or something that they are bound to, which doesn't really do much for the economy. or they'll save it. how much did the last stimulus help the economy???
20oh, and i don't think it will hurt it either. the economy runs in cycles. recessions and depressions happen.
21Nope another pathetic excuse from this "amazing" president.
22i think it would be funny if it actually worked, then what would people have to complain about?
23hahahaha i know nyaradzom. as much as i don't think it will do anything, i would love to see it work. i'm sure they'd find SOMETHING to complain about.
24"i think it would be funny if it actually worked, then what would people have to complain about?"
Global warming.
25
26I'm no economist, so I don't know for sure with solid data whether the stimulus package will immediately help or hurt the economy. I think it will help in the long run - but we Americans are pretty impatient [look at the critics raving in their seats now!], so it's going to look like a bust as soon as it's passed.
I believe the basic idea is to get money flowing again. If people are spending, even if it IS to pay the rent, their house notes, their car notes, whatever - that money is being transferred to other entities, who can then spend that money on their debts and sustaining/expanding their business and other entities, and so on. And I doubt that people who get a bit more money will actually hold on to it or put it in savings. Yes, we save now b/c we don't have it, but when we do have the means, we spend. This is what we're hoping for.
What I DON'T see is anyone else with a practical, feasible, or viable plan to pull the economy out of this mess. And I think the President is doing the best he can while trying to be bipartisan [which seems like it's caused more trouble than not, especially b/c there's been no visible reciprocation] and deal with the mess from previous years. I don't expect the world to change overnight, the President is still only one man.
27"What I DON'T see is anyone else with a practical, feasible, or viable plan to pull the economy out of this mess."
Really? I have read stimulus alternatives that actually address the foundering sectors of the economy without sending money to needless programs. I have confidence that a targeted approach (i.e., get the money flowing again) that doesn't put the nation into almost insurmountable debt will work better than a plan that will cost the average American over $62,000 and give them back $13 a paycheck.
28The 13 per paycheck is so laughable, i cannot even explain in words how ridiculous it is.
29haha cranky and how would they blame that on obama. I really want to see this work just to see what the naysayers will do next though i doubt it will. If only people had been this angry when things were going down the crapper.
30nyara-
I would LOVE to see Obama succeed (assuming we could agree on success as I pretty much disagree with him on everything...). I didn't vote for him, but am not so shallow that I want the nation to go down the tubes to prove my point. I would love, love, love to be sparring about global climate change (or whatever) right now.
And, just for the record, I was steamed about the ARMs that got us into this mess when they appeared (priced my husband and I out of the market) and I pretty much loathed the first bailout. But you are right, words can't describe how I feel about the stimulus. Seems like the majority of Americans agree with me.
31kranky - Yeah I think it's safe to say that most people are pretty peeved(major understatement) about this stimulus regardless of who they voted for. i think though it must be really hard to come up with something because people want something done and they want it done now but they don't want this and they don't want that. It would probably take a good while to satisfy everyone especially with al the bickering that goes on between the two parties and with close to a million people losing jobs in 2 months obama is caught between a rock and a hard place. i do hope it works though because i have friends who have lost jobs and are so worried and it must be awful to feel so uncertain
32Okay kranky, can you direct me to some of these alternative solutions? [I'm asking seriously, not mocking you in any way; I'd like to see them]
And I agree with nyaradzom. Nobody was this angry while we were being robbed blind and the economy was sinking...and yet people are acting like Obama *made* the economy crash.
33I think, more than the package itself, people are upset about the way it was handled. Forced senses of urgency, real or perceived secrecy and voting being done by people who admit to have not read it. This makes the American people nervous, no matter who you voted for. The fact that it all had to be done by x time so Pelosi can go to Rome? It is just too much for most people.
34"Nobody was this angry while we were being robbed blind and the economy was sinking..."
I don't know about that, Margo...I think perhaps we just didn't see it. I mean, I for one wrote multiple times to our leaders in reference to this bill, and I'm sure many others have as well, or our president wouldn't have been so frustrated at the lack of enthusiasm.
35I don't think anyone is angry at Obama for the condition that the market is in, but we are angry at his response, which is to take the pet projects that haven't been able to get any sort of funding, gather them into a "stimulus" package, and tell the American people that if we don't get this approved immediately, the whole ecconomy will collapse. The fearmongering is dispicable, and the lack of ability to really look at the final bill has me disheartened.
36margo-
Sure! Always happy to share information. I have read various proposals in the news, but didn't bother to bookmark them. So, here's one example:
http://www.cnn.com/2009/POLITICS/02/05/miron.libertarian.stimulus/
As for the seoncd part of your post... who was robbing us blind?
37And who is saying that Obama caused this mess? I haven't seen that anywhere - not in the media nor on these boards. The closest thing I have seen is predictions that Obama's policies (aka the stimulus) will cause the economy to decline more, but not that he was the origin of the fall.
I agree that it was hurried but if took longer i am sure people would say nothing was being done or it was taking too much. I do agree with the fear mongering part but when tens of thousands are losing jobs is it really fear mongering or is the urgency required. All I know is that I wouldn't want to be any of these people right now, America's future rests in their hands.
38But, what wasn't being widely reported was that in Jan. sales were up and the job market was not declining as much. Towards the end of the month and in the beginning of Feb. that was continuing. Then all this stimulus bs started scaring everyone and the stock market showed that. The fact that anyone, anyone..can say there is no pork in this package is beyond devotional delusion. Not saying that about anyone in particular, just the die hard supporters who won't look at things objectively.
39"All I know is that I wouldn't want to be any of these people right now, America's future rests in their hands. "
Then don't you think you would be extra, extra vigilant? That you wouldn't even think of voting on something you didn't know backwards and forwards?
40Wow it is crazy to me that 78% of respondents to this poll said it would have a bad impact or no impact at all.
And yet this PASSED?!?! Gosh. I feel really violated.
41Rassmusen released a poll yesterday that said less than 36% of American's support the bill.
42i don't know kranky, i would like to think i would but i know when I've had things to do and people breathing down my neck, and deadlines that I never do as much of a good job as I can when there is no urgency. We'll find out soon enough if this will work and then i am sure heads will roll.
43Yes - people are losing their jobs, but not nearly (not anywhere even CLOSE) to the levels of the Great Depression, though our President says that is the case. As someone pointed out earlier, economies go through recessions and growth periods.
If Geithner could have given some kind of coherent plan to Wall Street than the stock market would be in better shape. The economy is reacting to uncertainty and naysaying, and the source of that is the Oval Office... not so much the passing (or not) of the stimulus. So maybe in retrospect, yes I do believe that Obama is in part creating this situation. He is deliberately trashing the economy so he can push through an agenda of pork projects that the Dems have wanted for years. (How's THAT for a conspiracy theory?)
44Better ideas to spending plan:
http://www.thestreet.com/story/10464192/1/stimulus-plan-needs-better-ide...
Better stimulus plan:
http://gohmert.house.gov/Article.aspx?NewsID=1355
45Wow - thanks for the articles splork!
46Cut the social security tax for businesses, let's have less money in that fund which is truly bankrupting this country. Excuse: because we already maxed out the trust fund anyway!
47"But, what wasn't being widely reported was that in Jan. sales were up and the job market was not declining as much."
O RLY?
Sources plz.
48Would you like big general articles or industry specific ones, because I have both. You could do if you simply typed it into google.
49It doesn't matter because even if that is true, it doesn't mean that all is well again or even that we're beginning to get back on course. I don't know where you get your info but employment data is out the first Friday of every month, and the jobless rate jumped to 7.6% in January up 0.4% from December. It hit a 26-year high. There is no February data out yet for jobs or anything else due to the fact that we are smack dab in the middle of the month. Put that in google search and see what comes up.
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