White House senior advisor David Axelrod stated on Fox News Sunday that there should be a nearly immediate impact upon the economy as provisions of the new stimulus package go into effect. Although it will take time for many of these programs to have a real world effect, Axelrod asserts that there are enough infrastucture and other programs that are ready to go to have an impact. He cautions that conditions are still expected to worsen before they improve.
Axelrod went on to say that Obama’s plan to address the home mortgage meltdown is a solid plan that should help both people who just about to be foreclosed upon and, eventually, raise back up the value of plummeting home values. Axelrod also touched upon the floundering automaker sector, stating that the federal aid is critical but will not be doled out until it is clear from the automakers how they intend to remain solvent and pay the federal loans back to the taxpayers.
The economic stimulus bill was signed into completion by President Barack Obama over the weekend. In the weeks and months ahead, it should clear whether the recession will expand into depression that the gloom and doom crowd are warning of. If the White House claims that the economic stimulus plan will have a fast effect are correct, the news couldn’t have come at a better time. With eight states that have run out of unemployment funds, many more tottering toward federal dependence, and unemployment rates continuing to rise, people are hurting out there. Regardless of political beliefs, just about everyone is hoping this thing works.