According to Sen. Chuck Schumer (the Vice of the ), the bill would strengthen the nations economy by creating job opportunities for millions of U.S. citizens, it would also deliver a tax relief for majority of the workers (95%), help in the development of infrastructures particularly in the rural communities, create a positive impact on the education sector, and help in the improvement of the energy sector.
He notes that U.S. have had the worst economy since the era of the Great Depression and more than five hundred thousand people had been losing job opportunities every month. There was need to create more jobs and also preserve the ones which were still in existence (Saltonstall, 2009). This could not be done without the government having to in terms of spending. According to him, the stimulus bill would therefore be a strong package towards economic discovery.
It would create more than 3 million jobs, it would increase the income of the middle class thereby increasing their spending patterns which in turn would boost the economy, and it would create a good infrastructure that makes traveling to and from work easy. Schumer differed with Grahams argument that the stimulus bill was not good for the small businesses. According to him, the bill would help small businesses to expand thereby creating jobs.
It would allow them to take up losses that had been incurred instead of paying taxes. And also the economic plan had made significant consideration for the small businesses. He however admitted that the stimulus bill was not perfect, but it was much better than doing nothing about the situation.
It may seem that the bill is taking a significant part of the budget, but the results are worth it. By investing in infrastructure, especially roads and rails, the rural areas will be developed thus creating more job opportunities. People will have greater access to social amenities including health care services. Schumer did not find a reason for voting against the bill. According to him, the bill encompassed all sectors of the economy.
For instance it focused on infrastructure development including water and sewer, energy and arts which is a key engine of economic growth in New York (Galbraith, 2011). Most of the people who voted against it are still the ones who had proposed that some things be taken out of the bill which was done. Schumer did not understand why they still voted against. He noted that the biggest amendments made to the bill were suggested by the Republicans, for instance the $70 billion, $38 billion for the AMT, and housing relief.
There was no reason for opposing the bill since it had been amended as people had requested. He noted that every one of the 435 House members and 100 senators can find some provisions they didnt like in this bill (Amanpour, 2009), but that was not reason enough to vote against the bill.
There is nothing that is perfect and everything has its positive and negative side. Supporting the bill was an indication of the need for economic recovery from the effects of the Great depression (Baker, 2010). People need to come and reason together if a nation is to develop.
What Schumer did not understand is why people would talk about the expensive bill but they never talked about the $1 trillion used during the Iraq war or the deficits of $800 billion incurred when George Bush was president. There was a reason to oppose the deficit spending, but there is no reason enough to oppose the tax cuts.
A bill that is expected to spend such a large sum of money should be discussed at length and every member concerned should be given ample time to air his/her view. It is true that the bill is a path into economic recovery, but the amount is gigantic. Spending a lot of money does not mean that the end results will be perfect rather the the results. The banking sector has for a long time been known to be a key engine of development.
Every activity done by the and there is no business activity that does not require the services of a bank. Instead of increasing the unemployment benefits and tax relief, the bill should have focused more on increasing youth funds, or other funds to be given out to entrepreneurs. This would result in job creation and the government would earn interests. The small businesses should also be given a larger percentage since most of the people are employed in these businesses which are not well developed.
The passage of the bill by President Obama was rather a rush move given that it was his first bill to approve. I think he should have given the Democrats and the Republicans a longer period of time to discuss over the content of the bill. There is no single person who can be able to read and understand a document containing more than one thousand pages in a few hours.
Moreover, the document in question is a public policy that should not be passed anyhow. Having all Republicans vote against the bill was not a coincidence but serious matter. It may even seem that some of the Democrats voted for the document, not because they fully understood its contents, but because they were in favor of it from the initial process.
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