Stimulus package to revive the economy essay

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Stimulus package to revive the economy essay

The package is characterized by an effort to jump start job creation, tax cuts, middle class tax relief and suspension of penalties and income tax on early withdrawals.

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This has been estimated to cost over 1. This high expenditure is likely to have a significant impact on the federal government Robert and Lamar, States in America will have more responsibility in spending the fund allocated to each state.

This is because in some specific allocation such the education fund, the amount of funds which have been allocated have increased significantly to a sum of around billion which is the budget responsible for only the development of existing and setting up of new schools.

This money goes out slowly from previous analysis as the states have not been very efficient in setting up new schools. This is shown by the states having five years to spend the dollars and they have a history of spending the money slowly.

With increase in the budget with the new stimulus plan it will be even more demanding for the states to engage in schools development as well and spend the funds allocated to them.

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The states will also be faced with the issue of implementing new responsibilities which had been previously being eliminated in the Bush administration.

The stimulus which has increased the spending has result to the formulation of new programs which were previously lacking in the Bush administration. These programs require a lot of commitment and technical support which may not always guarantee their success since these programs are new and thus delicate in their management.

This may be evidenced by an allocation of 2 billion dollars for the Byrne Justice Assistant which is a program for drug task forces and things such as prisoner rehabilitation. The additional allocation of 1 billion dollars set aside to hire local police under the community oriented policing services program Robert and Lamar, There is also the issue of accountability especially of the state spending thereby affecting overall accountability at the national level.

This is more because some of the expenditures at the various departments of the states are not properly put to book and thus creating a loophole for funds to be misplaced.

This has been due to a lot of negligence and poor coordination at both the state and national level respectively thereby posing a challenge as to whether it will be possible for the various departments to manage the expenditure of the stimulus plan.

The greatest victims of this lack of accountability include the environmental department where the expenditure has grown to a tune of This lack of accountability poses a risk especially with the growth of funds whereby most money stands to get lost and go unaccounted for if the loopholes are not tightened.

With the increase in the government spending the states will be faced with the responsibility of increased accountability and coordination.

The federal government of the United States will be required to engage in more resource creation both at the national level and also at the state level. This will include the formulation of legislation and policies to ensure that the resources required in financing the expenditure are acquired.

This process is tasking and very difficult to come to agreement as some proposals will be accepted in some states and rejected in others which may increase division and autonomy. It may result into some loss of balance in terms of the economy and other related factors according to the different plans adopted.

It may even result to loss of control at the national level due to the differences Robert and Lamar, References Robert Hawkins and Lamar Alexander. American Federalism, a New Partnership for the Republic.

Published by Transaction Publishers, Linda M.

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Campbell and Janet Grange. CCH, You can place an order similar to this with us. Use the order calculator below and get ordering with accurateessays. Contact our live support team for any assistance or inquiry.In my last post I discussed at length the question of rationality.

I concluded that contrary to the opinion of behavioral economics, humans do make decisions that they believe to be in their best interests, in my view the correct definition of a rational decision.

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More Essay Examples on Economics Rubric. The economic stimulus package of the United States is one of the most talked about incentives that that are anticipated to revive the American economy and disengage the population from the . Obama's economy stimulus package was passed in February as the American Recovery and Reinvestment Act.

It ended the recession in July. Major wars and economic crises force the pace of change within and between capitalist states, giving rise to new alignments and shifts in the geopolitics of world capitalism.

Stimulus package to revive the economy essay

1 At the time of writing this article, turmoil in financial markets triggered by faltering growth in significant parts of the globe was provoking fears that the world economy was plunging into another recession.

Archives and past articles from the Philadelphia Inquirer, Philadelphia Daily News, and plombier-nemours.com The Basics of Economics - Economics is the study and understanding of the economy or the system of government and people that deals with money and financial things.

Say's Law and Supply Side Economics