Government spending

During President Obama’s first year in office the 900 billion dollar stimulus was passed to help the low and middle income people. When President Obama signed his economic stimulus plan into law on February 17, 2009, he promised it, “includes help for those hardest hit by our economic crisis, and “as a whole this plan will help poor and working Americans”. Hilary Clinton is now proposing a similar plan. Hillary Clinton is finally outlining the details of her plan to create jobs, and if you feel like you’ve heard it before, you have. The Democratic presidential nominee claims that during her first 100 days in office, she’ll introduce and sign into law “the biggest infrastructure and jobs program that we’ve had since World War II.” That was also true of the huge stimulus program that President Obama signed into law in 2009, during his own first 100 days in office. Recall the shovel ready jobs that never appeared. Since the promised benefits to the working people did not materialize the government said in a fallback position that it prevented a depression. No way to prove that but the working class is still in a rut. While this was going on the Federal Reserve was buying up assets to keep the economy from going into a deeper recession. At the start the Fed owned 700 billion and by the end of stimulus one, two and three they owned over 4 trillion. Most feel that this was the likely reason the economy recovered but even then it took years and there is still some doubt as to how strong things are with GDP at 1.1% so far this year.