People are cheering President-elect Barack Obama for his stimulus plan estimated to be $800 billion dollars. For one, 4 million new jobs will be assured to save the U.S. from a year long recession. My question is will recession be only for a year? If next year the recession continues, does that mean he has to shell out another stimulus plan?

New jobs is fine but management is another. One thing that Obama may want to tighten up should be the common business practices. For example, lending should be done with extreme caution. Require a business plan no matter how many they are. Ask for sales projections, expected income and so on. From here you can see if people who want to get into business know how to use money to its max.

For sure the stimulus plan is a welcome package to most people in the U.S. and the world. But just like the previous financial bailouts to banks and the auto bailout to the big three, make sure that it will produce the necessary economic assistance to save a faltering nation due to bad times in the economy.

“The jobs we create will be in businesses large and small across a wide range of industries,” Obama said. “And they’ll be the kind of jobs that don’t just put people to work in the short term, but position our economy to lead the world in the long-term.”

(Source) Reuters

[tags]barack_obama, president_elect, welcome_package, economic_assistance, bailout, new_jobs, stimulus_plan, recession, billion_dollars, business_practices, business_plan, banks, economy, money[/tags]

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