Reading Reaction Journal #1

Reference

Sahadi, J. (2009, January 15). House Dems offer $825B stimulus bill. CNN Money. Retrieved January 20, 2009, from http://www.cnnmoney.com/2009/01/15/news/economy/house_stimulus_bill/index.htm?postversion=2009011512

Summary

Barack Obama talked with his top aides for several weeks, House Democrats on Thursday decided on a plan that calls for $550 billion in spending and aid to states and $275 billion in tax cuts. The House Speaker Nancy Pelosi said, “Obama will reach the money in mid-February and this is just the first step.” The money will be sent to the relevant House committees. Also, the money will be used in some other things, like to modernize roads, for education, to decrease the unemployment rate and so on. The middle-income workers will get a tax cut equal to $500 a year for individuals and $1,000 for couples. The money also includes an expansion of the Earned Income Tax Credit.

Reaction

In fact, this is a difficult article for me. There are many vocabulary words about the American government. Sometimes these words made me very confuse. Right now, the American economy is not good. Many employees were fired in the US. Many companies will be closed. It is the time that the government should go out and help the people. They use $550 billion in spending and aid to states and $275 billion in tax cuts. I think Barack Obama did a good job in this. But I think the money cannot help all the people. I think they may need $200 billion to do some other things to help the people. But some specialists think if the government uses the money for the people, the government will have a $2,000 billion deficit. It will be a big problem. But I think the government should use the money to help the people, if the people cannot live very well maybe the country will be finished. So I agree with the government; they did a really good job.