I read an article from the New York Times called "Obama Sees More Pain Now but Hope Later on Economy." http://www.nytimes.com/2009/04/15/business/economy/15obama.html?_r=1&hp The article discusses a speach given by Obama on the economy, in his speech, Obama states that the near $800 billion stimulus plan was "starting to generate signs of economic progress." I agree that we are starting to see signs of improvement in many of the economic indicators (ie. the stock market). Assuming the economy has turned the corner (which I am in no way stating, only hoping), perhaps it is/was due to the injection of Obama's stimulus plan. But I for one feel it is too early to tell whether or not the turn-around is a direct result of Obama's stimulus. People have been talking about a turn-around since late last year. In my opinion, we were due for a turn-around. The inefficient companies failed (more would have failed had the government not bailed out the entire world) and the stronger companies are left to carry on. I think the reason for the recent upswing in the stock market, and hopefully the economy, is because businesses have reduced waste. They have slashed costs in order to save, and are now position to succeed for the future. I tend to agree with Obama that the worst is over and that rough times are still ahead of us. I'm just not quite ready to bow down and worship Obama because he saved us from economic collapse.
Posted by Sophia at 4/14/2009 12:13:00 PM