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June 23rd, 2009

Vote: Are You Still Optimistic About the Stimulus?



A recent poll suggests that some Americans are losing patience with President Obama’s stimulus package. According to a Washington Post-ABC News poll, 52% of respondents feel the stimulus package will succeed in improving the economy. The latest results compare to an approval rating of 59% just two months ago:

The falloff since April cuts across partisan lines. Confidence in the package’s effectiveness has dropped from 81 percent to 73 percent among Democrats and from 32 percent to 26 percent among Republicans. Among independents, it has dropped from 56 percent to 50 percent. What was once a clearly positive assessment of the program among independents (56 to 39 percent) is now an almost even split (50 to 47 percent).

Are You Still Optimistic About the Stimulus Package?

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Critics have long questioned the necessity of the many “shovel ready” projects made possible by the stimulus money. Furthermore, some have also debated that by the time the effects of the recovery package take hold, the economy would have had the opportunity to recover on its own. While much of the funding has been dedicated to “green” renovations and to the improvement of public transportation systems, the most expensive projects that are currently underway have to do with upgrading the nation’s highways and bridges:

You hear a lot about the government’s desire to build a brand new “green” infrastructure in the United States.

But really, the meat of the stimulus is all about rebuilding the old, car-based infrastructure. All those high-speed rail lines and smart power grids will have to come later.

Click here to view a list of the “the biggest projects that have received money so far.”

To learn more about the “estimated breakdowns for where the money is headed–the share each sector of the economy is receiving–as well as economic forecasts about the impact the Recovery Act will have on your state in terms of jobs created and tax cuts received,” visit Recovery.gov.

For more, read “Update1 Biden: We Overestimated Stimulus’ Impact on Jobs

(hat tip: Fundmastery)

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5 Responses to “Vote: Are You Still Optimistic About the Stimulus?”

  1. William Says: June 23rd, 2009 at 9:59 pm

    The honeymoon is over. Many were comforted with talk at the start. Unfortunately, the economy is still in shambles. More talk will not do now. It is time for Obama to deliver because many are beginning to have doubts about his ability to fulfill promises made.

  2. Tim Manni Says: June 24th, 2009 at 9:45 am


    So the presidential saga continues. Americans have dealt with failed campaign and presidential promises every year since we voted in the first election. Yet, this is the present and we’re dealing with an economic environment that’s extraordinary. There’s a lot of spending going on thanks to our dime and taxpayers want to see results!

    Thanks for commenting William,

  3. Alessandro Machi Says: June 26th, 2009 at 5:39 pm

    A real stimulus plan would have addressed the almost 1 trillion dollars in consumer credit card debt and offered incentive programs to consumers who wanted to pay down their credit card debts.

    The stimulus this would created is obvious. Increased consumer confidence because they have less debt, increased cash flow back to the banks, increased savings every month from lower interest charges resulting in more local economic purchases for goods and services, or, even more cash flow back to the banks in the form of savings.

    And no tax dollars were used in the making of this stimulus program.


  4. Tim Manni Says: June 29th, 2009 at 11:03 am


    This is an interesting idea, but how would the government avoid using any tax dollars? I do see your point however that credit-card debt does hold card holders back from spending more. My argument would be that card holders are soley responsible for the debt they have accumulated; but an easy counter-argument would be so did GM, Chrysler, BofA, etc.

  5. WaPo lies by ommision once again! « Callsign Snoopys Doghouse Says: January 18th, 2010 at 10:28 am

    [...] Vote: Are You Still Optimistic About the Stimulus? [...]

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Tim Manni is the Managing Editor of HSH.com and the author of their daily blog, which concentrates on the latest developments in the mortgage and housing markets.

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