MU students weigh in on stimulus
Some worry the package will create large debts.
Published Feb. 23, 2009
The passage of the $787 billion American Recovery and Reinvestment Act on Tuesday has received varied reactions from the American public and MU student leaders.
With the economy being as it is, many students have felt the impact.
"The economy is going to make things a bit tight," said economics student Callum O'Toole, who is here for the semester from England. "Generally for me, as a student, it's a bad thing because of the fact that I can't afford stuff that I usually was able to afford to buy."
Freshman Danny Dreyer, a business major, said he agrees. Unlike many college students, Dreyer has his own financial portfolio and said sometimes he plays the stock market.
"My mutual funds are not doing as well," Dreyer said. "This could affect me financially in the future."
With some feeling the crunch, the passing of the stimulus package last Tuesday brings hopefuls a chance for some relief.
The funds used in the plan are spread over an array of labels, such as $53 billion toward education and $288 billion for tax relief, according to Recovery.gov, a Web site by the office of President Barack Obama created so the public can view stimulus and see where the money is going.
Opinions on campus range from confidence to fear when speaking about the stimulus package.
MU College Democrats President Brian Roach said he supports the stimulus package.
"It's going to help pay for college and everyday expenses," he said. "For me, college is going to become more affordable and jobs are going to be created and saved because of this stimulus package."
In contrast, MU College Republicans Chairman Jonathan Ratliff said the bill would put "massive debt" into his future.
"I think it was a big waste of taxpayer's dollars," he said. "Our new leaders in Congress just went to Las Vegas and are gambling on my future and I don't take that very kindly."
Other students just don't know enough about the package to feel comfortable with forming an accurate assumption.
Recent public opinion polls have begun to show doubt about the package among Americans, and suspicions have arisen of whether the package will do exactly what it's intended to.
On Monday, a survey conducted by Rasmussen Reports found 38 percent of voters believe the $787 billion stimulus plan will help the economy, but also said 29 percent believe the plan will hurt the economy and 24 percent believe it will have little impact.
Roach said he feels optimistic the economy will eventually turn around.
"I'm no economics major, but the plan with this economic recovery wasn't to get the stock market to turn around in a day," Roach said. "It's going to be a long process, but the process has already started."
Hopes are high for a bright future, but the fear of what may happen still linger in students' minds.
Ratliff said he is concerned stimulus funds will not be distributed correctly.
"If not, we're going to continue to go in a downward spiral," Ratliff said. "We can only go so low."
10:13 a.m., March 16, 2010
John McClaskey said:
Minutes ago,I watched your report on the economic stimulus status. Your reporter asked that people weigh in about this issue. I am hopeing my comments are incorporated with the rest CNN has collected on this issue. Personally, the only difference the stimulus has made to me is the loss of my small yearly increase. I am a low end Federal Retiree. In the midst of the worst economic crises you could expect, the same federal govt that is passing out Billions to huge companies takes away the tiny increases given to the very lowest end retirees. Current employees of course are still given an increase, but the employee getting $35k a year before tax is denied because the index used does not call for an increase. Of course, the health insurance still increases more than it did the prior year. While the Federal Govt is bailing out every large company imaginable, jobs continue to be as scarce as an eye tooth. Where is all this stimulus money going? It is not going to the states or the local government. I live in Baltimore Md and am still being gouged by the state and City with ever increasing taxes. Especially, the Real estate taxes. So, to recap, Let's see how the stimulus has helped me. . Fewer jobs than ever especially for a retiree. . No cost of living increases . Prices for everything getting more out of control. . City and states looking to taxpayers for even larger taxes. There is no wonder people have lost the ability to hang on to their most necessary and prized possession, "their home." I have no idea what our government is trying to stimulate, but it is not the american citizen at the bottom or anywhere in the middle income levels.