Evaluating the Results of the Stimulus Fund

After suffering significant losses mostly economically from the recent economic recession, Pres. Obama ordered the passing of the economic stimulus bill which provides funds to various financial institutions and also to fund the basic social services of the government. The bill was aimed to create more jobs and to promote rapid consumer spending as a way to stimulate economic growth and get the country out of the recession. Of the over $800 billion stimulus fund, $100 billion was spent for the development of innovative technologies which the government treats as equally important in generating more jobs and improving healthcare, transportation and energy efficiency.

But despite of the level of positivity that the present administration has declared unto this stimulus funding, there are drawbacks and flaws that went unnoticed. Take for example the claims of the government that the stimulus funding doubled the U.S. renewable energy generation capacity and renewable manufacturing capacity by 2012. The truth is the fact that it has doubled isn’t meaningful at all as we are still uncertain of its results in years to come. It is still difficult to predict and project if the growth will continue in years to come.

With regards to health and information technology, the government also claimed that the stimulus law provided a significant boost in creating electronic health records, computerizing medicine prescriptions and conducting remote treatments to patients who live in hard to reach locations. Much of the computerization of health documents and health records are still in its early stages. It is still prone to errors and glitches which will surface in years to come. Also, much of the funds haven’t still utilized while there is still no system qualified and certified enough to satisfy the needed capabilities of the health department.

There are also assumptions that the $8 billion allocated to the creation of a high-speed rail will yield favorable results in the field of transportation. In reality, not all projects will be reaching the required speed of trains as some would prefer upgrading the existing freight rail tracks with speeds up to 110 mph. The speed is considered way short compared to the standards of other countries. There is also the challenge to the meet the 2017 deadline in spending all the funds brought by the recovery act. While the U.S. is capable of manufacturing passenger rail cars, it will take years to design and test newer models of rail cars which can satisfy the high safety standards of the U.S. society.

While the stimulus act is proven to be of great help for the recovery of the U.S. economy, there are still instances where results are irrelevant in measuring success as it is still too early to tell. The government should conduct an extensive review unto these programs in order to ensure that the funds used in these programs are reaping better and favorable results. It is also equally important to provide transparency in where and how will these funds be used.

Republicans on the Economic Stimulus Bill: Unreasonable Projects and Budget Misappropriations

It is a given fact that President Obama has inherited so many problems and issues from the Bush administration. A growing fiscal deficit, a drowning economy, unemployment rates increasing to record levels and a $12 trillion debt are just some of the major issues that the Obama administration is facing and trying to resolve. With the passing of the economic stimulus bill, the American regained hope and the perseverance to fight on.

The economic stimulus bill was pegged approximately at $819 billion. Some criticized it to be too small while others only hoped that it will do significant change and improvement. The bill basically encourages consumer spending to stimulate economic activity and eventually lead to economic progress. It also gives more funding for basic social services such as unemployment benefits, medical and healthcare benefits and education. But just how effective is this stimulus bill?

Several Republicans mentioned that a lot of anomalies have in fact lessened the usefulness of the bill. They say that a lot of useless and unreasonable projects were implemented. These projects are considered to be waste of money and do not even generate sufficient jobs for the nation. One project was with regards to the replacement of newer windows at the Mt. St. Helens visitor center which is estimated to cost about half a million dollars. The shocking part here is that the building has since been declared closed and does not have any plans to reopen yet.

The government is also reportedly appropriating $2 million to send scientists and researchers to various islands located on the Indian Ocean to study exotic ants. Don’t you think that this is not the perfect time to study some ants when the nation is deeply struggling economically? Also, another project involves repairs and renovations of an 1846 brick fort which is located at the end of the Florida Keys. It is quite intriguing that the government is willing to spend $6.9 million on a fort that is so remote only few people have step foot to the place.

On the other side, President Obama and his administration denied all these allegations stating that there is indeed a positive impact on the economy brought by the stimulus bill. He further emphasized that about three million jobs were preserved or created by the bill. With two opposing sides having conflicting ideas, which one will you believe? There are assumptions that the republican point of view is basically election propaganda to wreak havoc on the election campaign of democrats. Whichever holds the truth, what the people want is performance and better results. Politicians should set aside their political wars and instead do their jobs in helping the nation.