Obama Economy
Meghan Carpenter
Issue date: 11/11/09 Section: News
According to the White House Web site, the American Recovery and Reinvestment Act had a springboard effect creating numerous other government funded bills that are also rooted in the same economic foundation. The President created the "Making Home Affordable" which is a home refinancing plan. An extension to this plan was the "Helping Families Save Their Homes Act" which, coupled with "Making Home Affordable", provided $2.2 billion to help millions of Americans prevent foreclosures as an attempt to stabilize the housing market.
The other side of the American Recovery and Reinvestment Act was the credit crisis that had taken over millions of Americans. In response, the president signed the Credit Card Accountability, Responsibility and Disclosure Act, which, its Web sites describes, is designed to "protect Americans from unfair and deceptive credit card practices." This has led to President Obama's demanded accountability toward Wall Street and Washington urging them to create taxpayer assistance from banks, and support lending to ensure economic growth. The bill's Web site states, "the President will create a new regulatory framework that holds market players responsible for their actions and stops fraudulent practices before they take hold."
In order to follow the money that the American Recovery and Reinvestment Act awarded, the government urges Americans to look at the website and "track the money." According to this Web site, Wisconsin has been awarded about $2.5 billion, but has only received about $800 million of the awarded funds. However, with this money received, Wisconsin has already created over 10,000 jobs during this economic struggle. And although a New York Times report claims unemployment is at 10.2 percent, the highest in decades, Americans should follow the money and stay abreast on the state of the economy. To see where this money is going and to follow Wisconsin's progress, visit www.recovery.gov.
The other side of the American Recovery and Reinvestment Act was the credit crisis that had taken over millions of Americans. In response, the president signed the Credit Card Accountability, Responsibility and Disclosure Act, which, its Web sites describes, is designed to "protect Americans from unfair and deceptive credit card practices." This has led to President Obama's demanded accountability toward Wall Street and Washington urging them to create taxpayer assistance from banks, and support lending to ensure economic growth. The bill's Web site states, "the President will create a new regulatory framework that holds market players responsible for their actions and stops fraudulent practices before they take hold."
In order to follow the money that the American Recovery and Reinvestment Act awarded, the government urges Americans to look at the website and "track the money." According to this Web site, Wisconsin has been awarded about $2.5 billion, but has only received about $800 million of the awarded funds. However, with this money received, Wisconsin has already created over 10,000 jobs during this economic struggle. And although a New York Times report claims unemployment is at 10.2 percent, the highest in decades, Americans should follow the money and stay abreast on the state of the economy. To see where this money is going and to follow Wisconsin's progress, visit www.recovery.gov.
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