On Thursday, President Obama made a speech to the senate announcing that he would spend 447 billion dollars to give jobs to those in need. The senate immediately went to work. The celling debt of America is already at an all time high and this would just add to the problem. The author of this article writes about our current debt problem and gives examples to what might happen when the senate votes on Friday. From his point of view both have negative outcomes. If the senate votes not to debate against President Obama America’s debt celling will rise, but if they were to debate the new bill they will be deemed unlikely to win. Ted Barrett, the author of this article, refers to Senate Republican Leader Mitch McConnell as the “brainchild” of this new bill. He acknowledges this new bill with a negative outcome; nothing positive will come from this in his perspective.
Even though President Obama has spent more than the United States can afford, he was not the one that dragged us into this debt. The Republican candidates often refer to our countries debt as “Obama debt”, when in reality it is nobody’s fault for a debt. Barrett seemed to have a negative point of view on the article. Either way that it goes results in something negative or something not bound to happen. If President Obama’s bill is passed we will be giving out more job opportunities for those in need. Although it costs more to our additional debt, this could help America’s economy in the long run. By giving jobs to the need, we will be giving them money and they will be able to purchase things again. By adding more consumers to our economy our debt celling will begin to decrease.
Michael Boskin has somewhat different views in this Wall Street Journal article:
http://online.wsj.com/article/SB10001424053111904583204576544712358583844.html
For more information about Michael Boskin click here.
Original Article:
