Economic Stimulus Package

Introduction

In 2009, the congress approved an economic stimulus package. The congress approved a total of $787 billion to help improve the economic growth in the country. The US president approved the economic stimulus package to stimulate economic growth in the country and save more than 900,000 jobs. The country had experienced slow economic growth as a result of various factors. The increase in health carte cost was the major cause of slow economic growth in the country. This is because the government spent a large percentage of the countries budget on providing health care services. In addition, the economic crisis influenced economic growth in many countries. For example, the economic crisis influenced economic growth in

America. This paper analyzes how the economic stimulus package is performing and its benefits.

Economic stimulus package

The economic stimulus bill allocated funds into different categories. The congress allocated $288 billion in tax cuts and $224 billion to overcome employment rate. Also, the $224 billion was also intended to improve education and health care services. The congress allocated $275 billion for job creation using federal contracts, grants and loans (Davis, Obey &Net, 2009).

Since the creation of economic stimulus package in 2009, the US government has spent large amounts of money in improving the economy. The effectiveness of economic stimulus package has become a major issue in the country. This is because people have different views on how the economic stimulus package is working. Some think the economic stimulus package is not working. Others think the economic stimulus package is working (Davis, Obey &Net, 2009).

The United States government thinks the economic stimulus package is working. This is because the economic stimulus package has helped reduce the unemployment rate in the country. The government argues that the unemployment rate in the country has reduced after the established of the economic stimulus package. The treasury secretary, Timothy Geithner argues that the economic stimulus package has helped reduce the unemployment rate in the country. He states that the unemployment rate is likely to reduce in the next two years as a result of the economic stimulus package (Davis, Obey &Net, 2009). In addition, the treasury secretary argues that the economic stimulus package has helped stimulate economic growth in the country. This is because it has helped create small businesses in the country. The stimulus package has enabled small business owners to improve their business and establish new business. The economic stimulus package has also encouraged investment in the country as foreign investors have started investing in the country. Timothy Geithner claims that the investment rate will increase in the next two years as the economic stimulus package will create investment opportunities. The government argues that the country will experience development before the end of 2010 because of the economic stimulus package (Davis, Obey &Net, 2009).

The United States president claims that the economic stimulus package has worked as intended. The president argues that the economic stimulus package has provided unemployment insurance to workers. The economic stimulus package has created a large number of jobs in the country and provided unemployment insurance to the citizens. Moreover, the economic stimulus package has provided health care insurance to people who lost their jobs in the country and those who do not have jobs. Most people in the country were unable to access health insurance because of the high cost. Health care insurance was providing by the private sector and most people could not afford. This is because majority of the citizens lived below the poverty line and they only depended on casual jobs (TheCapitol.Net &Heniff 2009).

The government planned to use the economic stimulus package to improve health care cost and insurance. According to report on economic stimulus package, the congress allocated a total of $224 to improve unemployment in the country, education and the health care. The government has use part of the amount allocated to provide health insurance to the citizens. This has made it easy for the citizens to access health care from privately owned hospitals and the government hospitals. It has also helped improve quality of life in the country(TheCapitol.Net &Heniff 2009).

A large percentage of the citizens believe that the economic stimulus package has helped overcome heath care issues like health care insurance in the country. They argue that the economic stimulus packaged will help improve heath insurance and cost in future. A survey conducted by Hamden, Connecticut-based Quinnipiac University showed that 51% of the citizens believed that the economic stimulus package was working as intended. They supported the decision by the president to use the economic stimulus package to provide health insurance and employment opportunities. Only a small percentage of the participants thought that the economic stimulus package was not working. They argued that the economic stimulus package has not created enough jobs and provided enough health insurance (Skelly,Lidster&Fitzpatrick, 2009).

The president indicated that the economic stimulus package provided $43