What should we do with TARP? First of TARP stands for Troubled Asset Relief Program, and is a program that was set in place as part of Congress’ Emergency Economic Stabilization Act. The money in the TARP fund is what is driving the news recently. Obama wants to use the TARP money in part of a $200 billion jobs program. However others would like to see this money used to help to start pay back the national deficit.
Obama’s job program would stimulate jobs in only three areas of our economy: small business, clean energy, and infrastructure. All of this of course has to pass through congress first, and I am not sure if it will go straight through.
Rather than use the money on a job program, I think the best plan would be to use the money to start to pay back our national debt. I feel like if the money is used for a jobs program right now, it’s just a quick fix kind of solution that can have more harmful implications further down the line. Eventually we would have to pay that money back anyway. Our economy is slowly rebounding from the recession, and eventually it should stabilize again. I do not think that the recovering job market necessarily needs a job program boost. There is no doubt that with sending more troops into Afghanistan, and the new health care bill that our country will be in more national debt later down the road. Shouldn’t we try to pay what we can now?
Quick fixes are rather common in government. It makes the people feel like change is happening, even if it’s the equivalence of a bandaid on a stab wound. PS. does your blog background always change this often?
Hey this is like the first time I changed my background ( I thought this one looked more Presidential haha). I know quick fixes happen to appease the constituents, but I think this is one instance when a quick fix should not be the answer.
I think you’re right. I don’t we should continue to squander the money from this program, but rather use the money to repay the national debt. After looking at the outcomes of the stimulus package, we can see that not much can come away from programs like these. With the passage of the Stimulus package unemployment continued to rise, and I think we will only continue to see affects like this with TARP. I think we should cut our losses and get out while we still can. If we do not you and I are going to have to pay for it for the rest of our lives. Yikes! Our national deficit is through the roof and I think it is necessary to begin bringing our national debt down.