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Obama, Where's My Stimulus Money?

Updated on March 7, 2014

I Want My Share!

A couple of months ago a report stated that the Obama Administration and congress are working to increase the economic stimulus to 9.7 trillion according to Bloomberg.com. So far I haven't seen any benefits. If this goes through the government would have committed about $31,682 for every man, woman and child in the United States. I just have to ask the question, where's my money, and more importantly where is it coming from.

If the government continues to spend trillions of dollars to stimulate the economy eventually you and I will have to pay for it. If the economy does not strengthen, the dollar will weaken against other countries' currencies and everything we import becomes more and more expensive. Maybe then we will start to make things in the U.S. again.

Guess what happened during the first quarter 2009 earning season? Big banks are claiming record profits, thanks to the free ride they get. The underside of that is showing up in the market as they report their great earnings and also state that there will still be enormous write offs coming.

Is There a Better Plan?

Here is a better idea. Why not just give the money to the people. They will ultimately have to pay the bill for it anyway. It seems like a better idea than giving it to big corporations that have proven their inability to manage money already. If I received $31,682 for each member of my 6 member family, I would receive about $190,000. If every family in America received a similar check it might do more to help the economy than the current plan

For example, if I receive a check for $190,000, the first thing I would do is pay off any high interest consumer debt. This would be things like credit cards, and other small unsecured loans. Who am I kidding, I would probably take a nice vacation and then pay off the debt! The next thing I could do is pay down my mortgage and refinance to a new lower rate. Doing just these 2 things could stimulate the economy as much as the government has done. Think about it. If everyone was able to payoff their credit cards and pay down their mortgage what would happen? First, there would be a huge influx of cash to the banking system, probably as much as the government is already giving them. The added benefit here is that now people would have cash to spend. Under the current plan, banks are getting the money and tightening their lending practices at the same time. The average consumer does not benefit.

Reader Feedback

If Obama gave you the stimulus money directly, would the economy recover faster?

Obama, just give me the money!

Obama, just give me the money!

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    • anonymous 7 years ago

      you dam fucking right! it would be better! then how it is now.

      the rich getting richer and the poor getting poower. look now how

      Our country is it's in a world of shit! I not blaming obama for this

      you no who cause all this problem that dam shit! Head Bush that sun of a

      Bitch cause all this crap before he left the White house. and look now

      you guess obama taking all the raps! so that's his problem.

      you see what the white man.Did! now they want to blam The black man,

      and by the way myself the fucking groverment own me alot espercially

      that fucking Nigerian Grovement with the scam I got myself in $18.000.000

      American Dollers.so that's my commits. and I ain't backing of on this.

      Regards

      Avery pissoff person!

      GOD BLESS AMREICA

    • anonymous 8 years ago

      Video about Obama, bailouts, and hard-earned handouts. Obama, Where's My Check?

      http://www.youtube.com/watch?v=bOL84eahH08

    • anonymous 8 years ago

      Obama, Where's My CHeck?

    • anonymous 8 years ago

      yes, He needs to quit screwing around. Giving money to the banks so they can give big bonus's to their executives ...mean while sticking it to the comman man and woman. Give us the money

    • ariding lm 8 years ago

      Investing the money into improving the infrastructure is a good idea, I don't disagree with that. Maybe the media should focus on those types of programs. Unfortunately, all I ever hear is how much the government is spending and how the banks and financial institutions are still trying to give big bonuses to key employees. Heaven forbid they would quit! How would the banks survive without them? For now I would still rather have the check. Statistics show that most people would spend the money or at least have to. Just look up statistics on the national saving rate.

    • Linda Jo Martin 8 years ago from Post Falls, Idaho, USA

      Without a doubt.

    Let Obama handle it, these changes are good.

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      • anonymous 7 years ago

        no it recover fast but will be a great blessing to the world

      • anonymous 7 years ago

        not really well help a whole to some people it would be a blessing to alot of people all over in these small town like eldorado arkansas 870

      • Parleo 7 years ago

        California_Dreamin said it perfectly. The bailout is not the stimulus. The first bank bailout was done by Bush anyway. Stimulus from the government is meant to kickstart growth (or hold off recession) when the private sector is not capable of doing so.

      • California_Dreamin 8 years ago

        I think there's a difference between the stimulus plan and the bank bailouts. I agree with you that the idea of bailing out businesses that have run themselves into the ground is dubious at best.

        As for the stimulus plan, of course it's the best way to go in the predicament the US finds itself in. Money needs to be invested in projects that will create jobs, now and in the future; just doling it out to individuals is not a good idea because most people would tend to save rather than spend in these uncertain times. Obama's plan is exactly right because America has been neglecting its infrastructure (especially public transportation) and public school system for decades, and those are just the areas the president is planning to invest in, along with new energy technologies. One of the biggest problems with the idea of "small government" is that it neglects the necessity of investing money in America for the future of the country and its citizens.

      What Would I Do?

      If I had my money, the money I will have to pay as a taxpayer anyway, I could at least improve my situation to the point that if I had to take a lower paying job because of cutbacks and economic depression, I could. But that would not happen. By sending everyone their own stimulus checks money would start to immediately start to flow through our capitalistic system. With all of the money being pushed through the system, house prices would start to increase. People could afford their current home. Families that were renting would be able to purchase home. Banks would have money to lend and be able to relieve their books of the "bad" assets they had.

      Instead our government has chosen to fund the banks directly and now the average taxpayer has to wait until they decide to start stimulating the economy. Unfortunately, what we have seen is a number of them trying to stimulate their own executives and promote their own self interest. It seems crazy to think that the banks will get free funds from the government and before they will work with you to fix a problem you might have. These are the same banks that created the problem with their poor mortgage products and lending practices. You have to ruin you credit in many cases before they will even work with you. The end result is that the banks get a free ride from the government while consumers like you and me have to forfeit our credit and take the consequences thereof for the next 7 to 10 years, not to mention the effects of this will most likely cause inflation which will end up costing us more and more in the years to come.

      Get Your Finances In Order

      If you received a giant stimulus check from Obama, how would you handle it?

      Learn to Take Care of Yourself.

      Whether or not Obama cuts you a big check you have to learn to survive. Learning to manage your personal finances has become one of the most important and critical things to do on a daily basis for many people, and if you are not in that situation now you could easily be shortly. There is no guarantee in life other than that you can always bank on changes occurring. Those who have prepared will adapt quickly to the changing environment and those who haven't will learn to. Why not start today? Like Obama says, Change!

      Set some goals and make some plans. Now is the time to take change and make your own changes.

      Thanks for stopping by. How are you handling the recession? Care to share?

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        • Linda BookLady profile image

          Linda Jo Martin 8 years ago from Post Falls, Idaho, USA

          A lens we can all identify with. ;) 5* and an angel blessing.

        • wordsmithen profile image

          wordsmithen 8 years ago

          I think the basket of eggs picture gets the point across nicely. Good job!

        • profile image

          jura 8 years ago

          USA should close there free trading markets and bring production back to USA US dollar is week in the world and it will get weeker if goverment is not going to do nothing,great lens.