Is our Economy at a point of no return?

Is our Economy at a point of no return? According to Paul Krugman’s article in the New York Times he has put his faith in Obama and believes that we are not at a point of no return. Krugman is a highly educated and experienced author of editorials and books. He also is a professor at Princeton University teaching Economics so he has a pretty good idea of how to understand and track our economy.
In his article Climate of Change Krugman is trying to reach an audience that is eligible to vote, and are supporters of not only Obama but also the Stimulus plan that was proposed by his administration. This article was very easy to read and understand which made this article very appealing to those who are not used to thinking “politically” but are interested in what is going on with our economy.
Although this article addresses a variety of issues within the Stimulus plan, his main claim is that the Nations deficit will be dramatically decreased by 2013, and that healthcare can begin to be reformed within Obama’s first term. He states that our nation’s huge deficit is based on our current economic situation, which is a temporary situation. Therefore, when this temporally situation passes then the budge should improve. Now we are spending 100 billion dollars a year in Iraq, but Obama is working towards removing troops from Iraq by 2013. Obviously that alone will substantially decrease our nation’s deficit.
In terms of reforming healthcare, Obama’s new budget allocates $634 billion dollars for healthcare reform. This would be spent over a ten year period. Although the public is assuming Obama is doing this by only taxing the wealthy citizens at a higher tax bracket, there is actually more to it. Obama will also be working with Medicare and attempting to reduce payout to insurance companies.
I have to say that I do agree with Krugman’s logic within this article. Although the money allocated in the budget for healthcare is not enough to do an entire over haul of the current healthcare system, it is a pretty good start and will set us on the right track to making healthcare more readily available to US citizen. If Obama can get us out of Iraq and the US undergoes severe economic recovery, then yes the nation’s deficit will be dramatically reduced by 2013.

Is $789 billion really enough?

On Wednesday Feb. 11th a bill was passed after a long and argument filled 24 hour debate. This bill is called the $789 billion economic stimulus bill. This bill's entire purpose is to help our economy and pull us into economic recovery. It is also striving to create more jobs by giving companies and consumer’s money. Obama has been in office a few weeks and he is already not only making a difference but also holding up his side of the deal. This entire article went from excitement for this new possible economic recovery bill that could pull us out of this recession, to the arguments of both the democrats and the republicans how this bill will not work. I really encourage everyone to read this article because it gave me a better understanding of how bad our economy is and how nobody can really seem to agree on how to fix it.
To me $789 billion dollars is a lot of money. According to the Democrats this still is not enough. Apparently when the bill was first put on the table they were asking for $ 2.5 trillion dollars to fix our economic crisis, are they serious? Is our economy really that bad right now? Although they agreed to make it "less" they were upset over the cuts that had to be made. Cuts on things that they felt are very important. I hope that they pass this bill officially and on Monday Obama signs it. Then hopefully we can start to see our economy rise again.