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The plan also calls for contributions to improve public education, to modernize schools and to improve Pell Grants. There is also money for research in science in technology to improve the broad band capabilities of the Internet infrastructure. Money has also been allocated for small business owners.
This infusion will be over several years. Critics of this plan concur that the amounts of money spread out over several years will not be sufficient to achieve the results the plan puts forth. Also, a lot of money has been given to banks, financial institutions and lending agencies. Money has also been given to the auto industry so that they can be more competitive with foreign auto manufacturers. But soon after, what the critics feared happened. The President asked the CEO of General Motors Rick Wagoner to resign. Critics believe that such an unprecedented rise of the power of the Federal government goes against everything that a successful capitalist system has achieved.
The first salvo against federal intervention has been fired by the state of Texas. On April 14, 2009, Governor of Texas, Rick Perry in a press conference invoked the 10th Amendment of the United State Constitution, declaring that Texas was a sovereign state. He averred that he would not accept any federal funding as part of the stimulus. He indicated that the capitalist system that was successful in Texas could be a beacon for the rest of the country. He did however mention that the only money that would be acceptable would be money that Texans had paid in taxes as long as the money was given...
(Perry, 2009)
There are several entities that believe that a market-based economy would have fixed the problems of the Great Depression, and that it was the first break from individualism. It remains to be seen whether Obama's stimulus plan will help the country (Fox, 2009) or further erode individual freedoms. (Kaeters, 2009)
References
Alter, Jonathan. The Defining Moment: Fdr's Hundred Days and the Triumph of Hope. New York: Simon & Schuster, 2006.
Aravosis, John. Summary of Final Stimulus Package. 2009. America Blog. Available: http://www.americablog.com/2009/02/summary-of-final-stimulus-package.html.
Calmes, Jackie. "House Passes Stimulus Plan with No G.O.P Votes." New York Times 2009.
Fox, Justin. "
Kaeters, Nicholas. The Economic Stimulus Package: False Panacea for America's Problems. 2009. Media Criticism. Available: http://www.mediacritiques.com/the-economic-stimulus-package-false-panacea-for-america%E2%80%99s-problems/. April 13, 2009.
Perry, Richard. Gov. Perry Backs Resolution Affirming Texas' Sovereignty under 10th Amendment 2009. State of Texas. Available: http://governor.state.tx.us/news/press-release/12227/. April 14, 2009.
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