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October 23, 2016

Obama Looks to Pass Economic Stimulus Package

President Barack Obama is looking to have his large economic stimulus package passed in Congress. However, questions on where the money will go may slow down the process. Furthermore, issues with the previous stimulus package under former President Bush may prevent total cooperation.

Before meeting with his economic team, President Obama discussed the current economic situation in his weekly Internet and radio address. The portrayal of the economy given was quite negative as Obama stated the situation to be an “unprecedented crisis.”

Obama said that quick action was needed and with his $825 billion stimulus package, he expects that over the next few years, nearly 4 million jobs will become available.

As reported by CNN, Obama’s plan includes three steps, “Stabilize the financial system, fix market regulation and pass the stimulus plan.”

A vote on the proposed package will be held on Wednesday. February 16th is not only Presidents Day, but also the day Obama expects the plan to be on his desk ready for his signing. Obama even mentioned that, for the benefit of taxpayers, a website will be available for citizens to see exactly how their taxes are being spent.

Despite the promotion given to the plan by Obama, not everyone on the same page with him. Democrat Kent Conrad, the Senate Budget Committee Chairman from North Dakota is still unconvinced about the number of jobs that will open up. Part of his concern lies with the fact that the projection for jobs is based on the economic system functioning normally.

The majority of the nation believes that it will take at least two years for the United States to make a full recovery from the current recession.

Furthermore, John Boehner, the House Minority Leader says that most Republicans do not see the plan as actually helping create jobs and maintaining jobs.  One of those Republicans is Senator John McCain, who has already stated that he is opposed to the current plan.

About Mark Ryabtsev 329 Articles
Mark Ryabtsev is head writer for He stays up to date on all Obama news and brings you the most important issues.

2 Comments on Obama Looks to Pass Economic Stimulus Package

  1. Out of curiosity, what is the Republican (and McCain’s) stance for opposing President Obama’s current stimulus plan? Were additional options suggested?

  2. Looks like no additional options were suggested but the GOP wants to see how the bail out package is going to be spent before squeezing tax payers for more money. Here are the quotes I found:

    “But questions about how to spend the money and concerns about the last stimulus package under former President Bush, may create a roadblock.” -CNN


    “We need to have a permanent moratorium on new taxes and we also need to provide and not spend money on programs that will not have an immediate effect on our economy — and it’s [Obama’s plan] filled with billions of dollars worth of spending that will not stimulate the economy. … Right now I could not vote for the stimulus package as it’s been presented.” – McCain

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