$787 Billion Economic Stimulus Plan Essay Example | Topics and Well Written Essays - 500 words

$787 Billion Economic Stimulus Plan - Essay Example The $787 billion stimulus bill passed by Congress will not quickly solve the historic problems besetting the economy, but it could reduce the damage, while providing relief for the unemployed and the uninsured. Moodys Economy.com chief economist Mark Zandi says the bill could help end the economic slide. He warns, however, that the stimulus spending will likely be too small, given the size of the economic decline, and suggests Congress may have to revisit the issue (Kirchhoff) The plan we passed tonight will strengthen our economy by creating millions of good-paying jobs here at home; deliver tax relief for 95% of workers and invest in Americvas future by fixing our communities roads and bridges, improving our childrens education and making our country more energy independent. While House Democrats said the bill is needed to create or save 3.5 million jobs, Republicans countered the proposal would leave future generations saddled with debt. Republicans also noted they had little time to read the massive bill, which was released late Thursday night (Wolf) The crisis is so deep that only the economic reform policies alone may not bring the desired results. Many economists believe that the current recession may continue longer than anticipated. In my opinion, the life styles of the American public need to be fine tuned based on the realities. The greedy public accepted the offers (loans) from the financial institutions with both hands without properly evaluating their financial capabilities. They have approached the banks for everything and the banks were ready to help them without even assessing their backgrounds or financial strengths.The financial institutions miscalculated that the global economy will never exhaust and whatever the goods and services sold in the market will bring profit. Such irresponsible allocation of resources

Legalizing marijuana Essay Example | Topics and Well Written Essays - 500 words

Legalizing marijuana - Essay Example A report put out by the Drug Reform Coordination Network in 2005 indicated that a group of at least 500 economists are pushing for legislation reform as a means of saving billions of dollars through a tax and regulation policy as opposed to the current elimination policy. In this report, a study conducted by Dr. Jeffrey Miron is cited as claiming legalized marijuana would provide significant savings in enforcement costs at both the federal and state levels and would generate significant income in the form of taxes. Together, it is suggested there would be a net savings of approximately $14 billion a year. Rather than proposing a specific course of action, these economists were instead calling for a national debate to be held to discuss legalization. â€Å"The fact that marijuana prohibition has these budgetary impacts does not by itself mean prohibition is a bad policy. Existing evidence, however, suggests prohibition has minimal benefits and may itself cause substantial harm† (DRCNet Foundation, 2005). It has been suggested that by legalizing drugs, property and many violent crimes would vastly decline. The resulting tax revenues from such measures would supply law enforcement with more resources resulting in a further reduction of crime and could also be used to fund drug prevention programs in the same way that alcohol and tobacco taxes presently do (Transform, 2005). America’s war against recreational drugs is an example of good intentions gone terribly wrong. While this country squanders billion dollars annually on the efforts to stop illegal drugs, trafficking and use continue. It has been said that trying to stop drugs is like trying to stop the rain. Over half of the prisoners in jail are there for drug ‘crimes.’ This causes overcrowding which results in the early release of dangerous, violent criminals. This creates more of a public safety problem than does drug use. It is illogical from a societal view and