A day after his address to Congress, Americans are already taking a close look at President Barak Obama's recovery plan for our severely wounded economy. Obama has promised a boost to the economy by creating jobs through the $787 billion American Recovery and Reinvestment Act, also known as the stimulus plan.
While this plan will take awhile as federal, state and local governemnts much decide the exact manner in which to allocate funds, economist concur that six sectors are in position to see a boost resulting from this stimulus. The jobs which should see a postive effect include construction, the green sector (which includes jobs which are aimed at reducing greenhouse gasses, dependence on oil and consumption of other non-renewable sources), medical information technology, education, energy and utilities and the federal government.
However, Obama's stimulus plan won't create jobs overnight. Harry Holzer, an economist at Georgetown University and the Ubran Institute, cautions "It takes time for the government investment to expand the job market". However, it seems as if Obama's stimulus plan may be a step in the right direction and economists and Americans alike look to this plan under our new president with opticism.
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