Actively read the Newsweek article entitled “We are all Socialists Now”
http://www.newsweek.com/id/183663/output/print, from Newsweek Magazine.
You may also want to use the following timeline for the assignment: (http://www.nydailynews.com/money/useconomytimeline/)
Follow the directions for ONE of the following assessments:
A) Blog:
Summarize the article and at least one additional resource linked to it on Newsweek.com. Discuss the positive and negative aspects of Obama’s economic stimulus plan. To what extent is the government responsible for recovering the economy in a time of recession/decline? In your opinion, how does this stimulus package compare to Washinton’s response to other recessions in US history? Will the stimulus plan work to recover the national economic crisis? Provide evidence to support your response.
A) Blog:
Summarize the article and at least one additional resource linked to it on Newsweek.com. Discuss the positive and negative aspects of Obama’s economic stimulus plan. To what extent is the government responsible for recovering the economy in a time of recession/decline? In your opinion, how does this stimulus package compare to Washinton’s response to other recessions in US history? Will the stimulus plan work to recover the national economic crisis? Provide evidence to support your response.
OR
B) Create a Comic Strip/ Visual Timeline/ Power Point/ Poster:
Create a visual comparison highlighting the details of Obama’s stimulus plan to at least TWO other recession recovery programs in US History. Be sure to reflect that you actively read these materials and researched outside sources to include information BEYOND what I provided for you.
Due Tuesday, September 29 before class. E-mail me if you have questions: bridgettefranciscsi@gmail.com)
Create a visual comparison highlighting the details of Obama’s stimulus plan to at least TWO other recession recovery programs in US History. Be sure to reflect that you actively read these materials and researched outside sources to include information BEYOND what I provided for you.
Due Tuesday, September 29 before class. E-mail me if you have questions: bridgettefranciscsi@gmail.com)
In this article the author talks about how americas ecopnomy is turning into a european economy more specificlly a french economy. Also the article talks about how many believe america is turning to a socialist country. Many people believe that what obama is doing is turning America into a socialist country because he is taking a role in the economy. The stimulus package obama is proposing is sort of like the new deal that President roosevelt proposed during the great depression. The new deal is one of the best recovery plans that America has puit into effect. I believe that the governemnt is very respoinisble for the economy because it is part of their country. I also believe since the new deal worked that the stimulus package will work as well. I cannot guarante that it will but i believe it will because america cannot stay like this for ever.
ReplyDeleteJon Weiss
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America is accused of being a socialist nation because, the government is starting to help the economy return to it's previous glory. This statement seems quite out of context because a true socialist nation wouldn't only control the government. Though there could be an argument that America shows characteristics of being a Socialist nation to say that statement because of a recovery plan is totally ridiculous and out of context. President Obama invested over one trillion dollars the stimulus plan in order to help the economy come out of the current recession. This stimulus plan is good for the United States because it will help the unemployment rate as well as help the economy as a whole. With Government involvement within the economy things such as universal health care wouldn't be easy but, easier to obtain then before with a market economy. Though government involvement within economy can be good there are also negative possibilities. This is proven by European nations where very high welfare also led to very high unemployment. This would hinder America's growth in economy which, America prides itself on. The government must take control of helping the economy recover to it's previous glory. Because, people aren't going to be able to fix the recession on their own. People just try to survive the recession without helping themselves get out of their certain predicament. Government in the past also helped in economy such as George W. Bush and Franklin D. Roosevelt. George W. Bush bailed out the financial sector by passing a bill allotting 700 billion dollars. Though the stimulus plan isn't as ground breaking as the New Deal or the Square Deal but, the Stimulus plan will hopefully follow it's fore bearers and take America out of its present recession. This stimulus plan will in my opinion work because; from my own reasoning because people are being paid more which is apparent in the raise of minimum wage. Also that many people buy new vehicles due to the rebate they receive from the government. Though these examples may not be very influential in recovering the economy they are definitely a major part of President Obama's recovery.
ReplyDeleteHo Lee
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Newsweek's article "We Are All Socialists Now" by Jon Meacham and Evan Thomas tells a story of both parties democrats and republicans moving towards a mixed economic system rather than the proclaimed market economy.Over the years, government influence on the nations economy and lives of the American people have increased in various ways, mainly due to economic decline in certain periods in American history. Presently, the economic hardships faced in the U.S and other countries forces President Obama to pass the Stimulus Package, in order to stimulate the economy of the nation. Although the president believes his decisions are solely for the best interest of the country, by providing government financial aid to relieve families from distress, assist struggling homeowners with their mortgage payments,sponsoring the advancement of education, reviving vulnerable businesses in danger of crumbling, and a desperate attempt to create jobs nationwide; but from a different perspective, the president's approach is very much like a socialist's because of his huge involvement in business and the stimulus package comes along with quite a few flaws that may have long term impact on the economy. The excessive spending by the government is sure to place the country in serious debt, which ultimately forces government to increase taxes however, the idea of an unsuccessful outcome would be a great loss and damaging to the nations economy. Personally, I believe the president should have somewhat of control over the nations economy in critical times like this, but as far as his involvement in state issues, he seems to be overstepping federal boundaries by indirectly intervening in certain states businesses. From what I see, there is no strong proof of Stimulus plan being the ultimate solution to the economic decline because there have not been any huge improvements since it was passed, the only thing left to do is to wait and see how the economy heals itself after much government aid.
ReplyDeleteOla Afolabi
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in this article i've read that Obama's nearly $1 trillion stimulus bill will include $50 million for the National Endowment for the Arts and $20 million for "fish passage barriers". the article states "that we are headed in a more European direction. A decade ago U.S. government spending was 34.3 percent of GDP, compared with 48.2 percent in the euro zone—a roughly 14-point gap, according to the Organization for Economic Cooperation and Development. In 2010 U.S. spending is expected to be 39.9 percent of GDP, compared with 47.1 percent in the euro zone—a gap of less than 8 points". the article suggest that george Bush expanded government spending and ended the Reagan era to close Obama's expanding government even more reversing Bill clinton's end of big government. some positives that i've read in a different article, "U.S. News and World Report , Stimulus Watch, Author; Amanda Ruggieri, 9/11/2009, are increase in GDP of 2.3% to date and expected to grow higher in the 3rd qtr in 2009. Theres also been 600,000 to 1.1 million jobs saved overall due to the stimulus. Miami reports 2,000 teaching jobs saved. there is not enough data available to show negatives of the stimulus plan.Government has to work with economic markets to pull the economy out of recession.I compared the new deal to obama stimulus plan new deal formed public works projects and created home owners land corp. Obama passed $787 billion economic stimulus to save or create jobs. Obama reduced moorage payments for homeowners headed to foreclosure and help borrowers refinance at lower rates. i think it is working people are also getting jobs,saving teachers and houses are being saved from foreclosure.
ReplyDeleteTremika Kirk
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In this article about Obama's Stimulus Plan, America's economy is slowly becoming like the French economy. An estimation in one decade from now, the U.S. will be more like France's economy if entitlement spending rises. A positive aspect of Obama's Stimulus plan is that the U.S. is still cultural and will try to revert to a free-market economy when this economic crisis ends. A negative aspect is that Obama is using billions of dollars to fund the largest financial bill in history, causing a lot of unemployment all over the U.S. because of taxes. The government should be responsible for the recovery of the recession and create tax cuts to help the middle class to get back on their feet. The recession has made Americans with not a lot of money lose their jobs and their homes, so I think the government should step in and help citizens. My opinion about the Stimulus Plan is that it has helped some with the recovery of the economic crisis, but it is still a work in progress. I believe the Stimulus Plan has what it takes to help this country stablize again and make values go back to normal on products.
ReplyDeleteBethany Greenman
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The United States of America is currently being portrayed as a socialist nation. This speculation is due to the numerous bail-outs packages to large companies on the brink of chapter 13, which exspenses were covered by the U.S government. This involvement with federal/government money only rectifies the alligations of a socialist nation. However the government is not in control of the economy, it is just re-fluxuating productivity. The only negative aspect of this current situation is that President Obama is using billions of dollars in federal money to bail-out these private owned corporations, which is against a "free-market enterprise". The trillion dollars used to fluxuate the economy and attempt to bring the U.S out of this current recession. Although the attempt made by our newly elected president had the best of interests for all people, it made the U.S's deficit more detrimental. Now there is cuts or set-backs in many areas where the government should have full and utter responsibility for, health care. The recession lead to the loss of many americans jobs, but the amount of jobs lost do not make up for the amount of money the U.S continually owes, it's tab increases every minute. Therefore the governments role in the economy seemed to help the economy, but in the long run it will just lead to another recession further down the line. The economy will never reach economic prosperity if the government is printing money that it does not currently have.
ReplyDeleteJonathan Ayoub
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After all that has happened throughout America’s history, the government is helping the economy get back on its feet. Due to this, America is accused of being a socialist nation. In my opinion, a socialist nation would not control any type of government. Many say that Obama’s new stimulus plan is not what they expected it to be and maybe that’s why being a socialist nation sounds out of context. The stimulus plan includes President Obama investing over trillions of dollars to pull America out of the current recession. It helps the unemployment rate go down and it helps the economy stay stable. To help the public, the government must help the economy recover to stability because people aren’t going to be able to fix anything on their own. The majority of the people just have to wait till everything is stable again because they are helpless against the government. In previous history, our leaders had invested billions of dollars in order to get out of the recession’s back then. In my opinion, the stimulus plan has helped very few so far, but it has yet to take full effect and I’m sure it will bring the Economy back on its feet. TIRATH SINGH C BLOCK
ReplyDeleteThis article is talking about the Government’s plans to help America get out of the recession and help the economy balance itself. When the stimulus package was passed many Americans were happy that President Obama was going to help the health care system, as well as other American needs. As time passes it seems like this stimulus package is turning our economy and government into a European-style. We are becoming more of a socialist country. America’s GDP is becoming closer and closer to what France’s GDP is. By the year 2010 our GDP will be only eight points away from France’s predicted GDP. Eventually America will be a European-style economy and possibly government.
ReplyDelete-Brandon DiMatteo
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This article discusses the type of economic the American market is turning into. The author of this article seems to believe that the American economic is turning into a ‘French’ or socialist economic, under president Obama’s stimulus package. The stimulus package has helped the American economic from completely failing, for instance giving the money needed to save the car companies saved the economic from what would have been much worse since their would have been a much more increased unemployment rate due to all the jobs that would have been lost. Even if the stimulus package had positive effects there is still the mounting debt that America is still in, this debt has now increase to over ten trillion dollars due to Obama’s stimulus package. Not only has the national debt increase but taxes from the American people will be used in order to pay off the debt of companies that ruined the economic in the first place. The American government can only protect the economic to a certain extent due to the fact that we are so close to being a capitalist society, I think the government can only serve as a safety net because if the government tries to intervene any more then that people feel that they are losing their God given rights. the American government acted as a safety net once before, during the great depression were after the economic failed and the government had to create new jobs and new work so people could work and try to bring the economic back. Even though America recovered from the great depression it was only because World War Two started and there was a huge demand for weapon in which America was able to meet that demand, if it were not for this war American was likely to fall into another deeper depression. Since the great depression was only saved by World War Two I believe it is going to be nearly impossible to save our self’s from the recession we are facing now because we have nothing that is going to save us from the hole we find our selfs in.
ReplyDeleteKatie McSherry
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Obama is learning how to manage our economy, with his administration's stimulus plan. Because of the recession the numbers show that we are headed in a more European direction. The people are not fond of this because polls show American does not trust the government. However, the people do want the government to give what the government delivers; such as health care, national defence, and protection from house failure and banking. Americans have been living high on borrowed money while financiers "build castles in the air". Statistics show the savings rate dropped from 7.6 percent in 1992 to less than zero in 2005. The Obama administration must borrow and spend money in order to fix the conflict that was infact started by borrowing and spending money. Obama's pumping the economy with stimulus in order to cut the growth of entitlement spending by holding down health care and retirement costs, while at the same time, investing to produce growth. I believe that in time this stimulus plan will help the economy recover from the recession. However that won't be for at least another decade in my opinion. There was a large amount of money spend, therefore it will take much time to pay it off.
ReplyDelete-Susan Yacca
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The article We Are All Socialists Now talks about the economic path that the American economy is following. Several Americans are beginning to feel that follow Obama’s stimulus package, their society will turn into a socialist society. However, the stimulus package would prevent the economy from hitting a complete fail. There could be a reasonable debate as to why several Americans feel this way; however, they are basing this on a recovery for a nation that is in severe debt. Obama’s stimulus package is similar to a different recovery package that was introduced by Roosevelt. The New Deal helped America to a great extent and hopes are that Obama’s stimulus package could do the same. Unfortunately, Obama’s stimulus package can only take care of some of Americas debt. The government can only partially interfere and protect the economy. The only reason the government cannot take full control is because there are still the rights of the people and they cannot have those taken away or toyed with. In my opinion, the stimulus plan will be successful because, just like Ho said, things like rebates on car sales are huge and are very influential.
ReplyDeleteRosa Carucci
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This article speaking about Obama's Stimulus Plan is inferring that the economy is gradually looking similar to the French economy. The reason this is said is because the entitlement spending keeps rising & it will be close in numbers with France’s spending. The main reason for unemployment is because of Obama’s spending on the largest financial bill due to taxes. The only good things about the stimulus plan is that the U.S. will try to become a free market economy when all debts are paid and it will remain cultural.
ReplyDeleteBrian Lopez
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The article, “We Are All Socialists Now”, believes that America is heading toward a Socialistic government, like France. Americans fear that the government will gain too much control because of Obama’s Stimulus Plan. However, Americans also feel that the government should help the economy in a state of financial decline. Citizens are convinced that the government should also provide health care, national defense, and protect banks and housing from declining as well. A positive example of what would come out of this plan would be furthering research of alternate energy. About 50 billion dollars from this plan will be dedicated to develop clean and renewable energy. By developing renewable resources, this will lower our dependency on foreign oil. According to Daily News’s timeline of a Boom and Bust economy, there were high oil prices in 1972. Our oil came from Iran, which was in the middle of a revolution and endangered oil production. Iran eventually ceased to export oil to the United States. If America discovers a way to use energy that doesn’t include oil, it would essentially benefit our nation and the Earth. A negative effect the Stimulus plan would be that our government must spend and borrow more money, which was one factor of why our economy in a recession in the first place. I believe this plan will work because the government is taking action to help Americans. Every big risk can either have a huge reward or consequence, but if handled properly, Obama’s plan can benefit our nation and eventually the world.
ReplyDeleteAllison Lee
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By the government helping the economy become the economy is used to be, America is being called a socialist nation. This is a false statement because a socialist nation would be in control over many things, not just the economy. Although, there is a valid opinion of America being a socialist nation because of the new president we have and his actions upon the recession. Obama invested over one trillion dollars to the stimulus package that would be intended to help the economy recover. With the help of the stimulus package, America would be out of debt and unemployment rates would decrease. After the recession is over, health care would be easier to be covered by with all American citizens.
ReplyDeleteThere are also some negative apects about thegovernment during the recession and the stimulus plan. The government has to step up and do its job because Americans can not fix the problem on their own. With other nations competeing, this might affect our growth in the economy.
There are similar actions that previous presidents did in the past that included the government and economy being in trouble. George W. Bush bailed out the money problem by passing a bill giving 700 billion dollars. The stimulus package will hopefully work out for the Americans and decrease the unemployment rates. I also wish that the stimulus plan with help people with their health care insurance.
Dana Pistilli
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In the article "We are socialist now"President Obama’s Stimulus plan consists of investing trillions of dollars to get America out of the current recession that many Americans are suffering from. It is a paradox because Obama’s administration must borrow and spend to fix a crisis created by too much borrowing and spending. The stimulus plan takes a part and helps the unemployment rate go down and it helps keep a stable economy. President Obama will have to cut the growth of government spending by holding down health care and retirement costs and still invest in ways that will have a long term growth effect. Obama also stated that he promises a “croissant in every toaster over” this keeps many Americans focused on the questions how to manage a mixed economy than about whether we should have one. The top reason for such a high unemployment rate for this year is because Obama’s spending on the largest financial bill due to taxes. i believe that eventually in time America will recover from this horrible recession by the help of Obamas stimulus plan but it might take a while because there was so much money spent that it will take a while to pay off.
ReplyDeleteSamantha Wong C block
The article We Are Socialists Now is saying how America's economy is transforming into a socialist economy, much like European countries. We are currently in the processes of becoming a socialist economy because of Obama's new stimulus bill. This bill is going to be used to help regain America's economy, by pumping the economy with money, and possibly a big government. As stated in the article "It must borrow and spend to fix a crisis created by too much borrowing and spending." America's economy can be fixed by we must keep spending to bring our ratings back up. Obama has put trillions of dollars into this bill, to help recover the economy, and with this will come less unemployment rates, and no more debt. This is similar to the New Deal, by Roosevelt. He wanted to let the people know they can start to trust the government again. Then work on the economy and restore it to its old self. This is much like Obama is currently doing. Much like Rosa has said, the government cannot fully cover all of its debt. The government would be over stepping its power if doing so. I do believe in Obama's Stimulus plan, and it will help our economy, because he seems to be trying to do as much as he is allowed.
ReplyDeleteVanessa Cucuzza
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ReplyDeleteObama’s stimulus plan is a challenging puzzle to put together. There are many positives but also many negatives to the plan. Some aspects of the constitution can be put either way of being helpful or wasteful; an example of this is the fact that it is the largest fiscal bill in American history. This example of the stimulus bill can be viewed positively as when the bigger the plan, the bigger the outcome and worth it in the long run; it can also be viewed negatively on how, if it fails then the wastefulness of the situation. This bill cost the United States almost one trillion dollars. With this, government spending is rising and the government has required holding down healthcare and retirement costs to invest for future growth. This may help, but is also risky and many people may feel threatened. This bill has however pumped the economy up.
ReplyDeleteThe government always intervenes more and more throughout history’s times of recession. This involvement is necessary and the government is mostly responsible for the outcomes. The government must offer a solution that Americans can take and not deny and is responsible for convincing Americans that this path is the way to go.
The stimulus plan is a hot topic and if the government thinks it’s the solution, they should do more convincing. The plan will probably succeed if the government and the people have mutual understanding of what this plan should do and what it needs to do.
A socialist government is one were the government rules, and control most aspects of an economy and how the capital within it is spent and distributed. In the past year or so the United States has seemed to fall into economic troubles, and our recently new president, Obama has been working vigorously to help America from such times as today. As most know already he has present Americans with the idea of the Stimulus Package. Like most economical recovery plans, the Stimulus Package has both it's positive and negative aspects. The positive aspect, personally i believe is that the government is actually approaching the issue instead of keeping a laise affair attitude, showing that there is some hope for the future being prosperous. yet the negative is that billions of dollars must be pumped into our weak economy in order to make it stronger, yet it goes to show that things can an will only get worse before they get any better. But overall i believe that the stimulus package is a positive idea, solely based on what the outcome will eventually show.
ReplyDeleteHistory seems to always repeat itself, and the Stimulus Package is only one example to prove so. During the early 1900s when the great depression occurred, many programs and plans were put in place to help America and its people to get back on their feet and return to stability. Many of those plan put into play back then are extremely similar to the ones we see in our own lives today(of course with the exception of a few minor changes.)
I believe the Stimulus plan is a step toward leaving this point of time during recession, and possibly depression, yet many people do not realize that our economy will worsen before it begins to recover. And until people accept this, it will only be more difficult to help out their nation on a road to recovery.
-alexandra crimmins c-block
Jackie King
ReplyDeleteThroughout t his article, Jon Meacham and Evan Thomas discuss the changing of the American economy. Due to the government’s intervention with the economy, we are becoming socialists. Governments influence over the economy continues to increase as the economy continues to fall. Obama proposed a $1 trillion stimulus bill. People call this the European Socialist Act of 2009. This bill will help to rebuild and reshape the American economy. Once this crisis passes the US will try to revert a more free-market style of capitalism. If Americans fail to realize the growing role of government in the economy then we are doomed. Obama’s new plan will hopefully rescue the banking industry; the unemployment rate is at its highest in 16 years. The US is headed in a more European direction. A survey shows that Americans don’t trust government and still don’t want a big government. However, they want the government to continue to deliver health care and national defense and now expect much more. The government is forced to stimulate the economy in seeing that consumers and businesses are not. More government intrusion in the economy will surely limit growth, and growth is America’s thing. Obama must borrow and spend in order to fix a crisis created by those two. George Washington set up the branches of government and the federal government. Parties were created to hit all aspects of financial problems. Hamilton created the Federalist Party. He planned to create a national credit & rebuild a financially powerful nation.
This article is talking about how America is moving towards a more socialist government. Obama’s $1 trillion stimulus bill is a waste due to it being spent in fields that will not increase job market. Federal Aid is openly welcomed in all states and the influence of the government is ever more present in the economy. Obama has recently capped the pay of executives at institutions receiving federal aid. Obama’s Bailout plan is encouraging people to build their castles in thin air. This means only the government can stimulate the economy. Obama has to borrow money to fix a borrowing problem. The government has always played an important role in the economy when it is facing trouble. I t comes to help the economy get back on its feet and then loosens it grip on the economy. The Stimulus plan presented by Obama will not help the economy get back on its feet the economy has to get back on its feet by itself. President Franklin Roosevelt was faced with the same problem when he was elected into office during the Great Depression. He introduced the New Deal plan which was supposed to help America recover from the Depression. However what truly helped the economy recover was WWII. It produced many job opportunities and put men to work.
ReplyDeleteReuben.G F-Block 9/29/09
ReplyDeleteIn the article "We are socialist now" Jon Meacham and Evan Thomas discuss the changing of the American economy, one change being President Obama’s Stimulus plan.The economic hardships faced in the U.S and other countries forces President Obama to pass the Stimulus Package, in order to stimulate the economy of the nation witch consists of investing trillions of dollars. causing people to say that america is turning into a socialist country much like europe calling the stimulus plan "the European Socialist Act of 2009". I feel as if the stimulus plan is preventing the United states from a complete down fall because at a time like this their really isnt anything better to propose.The stimulus plan is going to be used to help regain America's economy by pumping the economy with money and possibly a bigger and better government. As stated in the article "It must borrow and spend to fix a crisis created by too much borrowing and spending." Im not sure if the stimulus package will be 100% effective but then again the united states has never been in a position where they were totaly convident about not going into another ression but i do believe this will help keep us stable if effective
ReplyDeleteVictoria Exume
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The artical "we are all socialists now" expresses that America is heading in a European direction. Comparing America to the french, "This is not to say that berets will be all the rage this spring, or that Obama is promising a croissant in every toaster oven." A decade ago the difference between the US's GDP and europes GDP was 14 points. In 2010 the expected gap is to be less than eight points. Obama has plans to lower the unemployment rate, since it is the lowest in 16 years.
ReplyDeleteLuke Opulski F block
Newsweek's article "We Are All Socialists Now" by Jon Meacham and Evan Thomas is about the government's influence on a nations economy and how this has affected the lives of the people during an economic decline. The economic crisis that is being faced today in the United States forces President Obama to pass the stimulus Package. Its purpose being to stimulate the economy of the nation. The President's approach is like a socialist's because of his huge involvement in business and the Stimulus Package which has it's flaws, may have long term effect on the economy. The governments excessive spending is also believed to place the country in debt. This could also forces the government to increase taxes. Of course the government should have some control over a crisis such as this,for example, in a market economy. The government has to work with economic markets to pull the economy out of recession. I think that Obama's plan might work because he is trying to make an effort. And like FDR, if it doesn't work then he can try a new plan or idea.
ReplyDeletekristineMunoz
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The article "We Are All Socialists Now" believes that the United States of America is talking about the economic path that the Americans are following. Many people think that Obama's stimulus package will soon to be turned into a socialist society. People such as citizens are convinced that the government should provide national defense, and health care. The negative effect of the stimulus plan would be that our government has to borrow and spend more money which was one important fact that made our economy go into recession. During the recession many people lost their jobs. A positive effect is that after the recession is over, health care would be easier to be covered with all the american citizens. I believe that the government is responsible for the economy because if you think about it, it is a part of their own country.
ReplyDelete-Chris Gallo
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