The American Recovery and Investment Plan of 2009, is the highest spending bill ever passed by Congress and signed by an American President. It will forever be linked to Barack Obama and historians will over time analyze and assess the effect on a recession that has seen trillions of dollars of wealth dissipate after the housing market bubble burst and the stock market collapsed losing 50% of its value.
The response from Wall Street and the markets around the Globe have been to reach lows not seen in a decade. The $780 billion bill which the Congress passed without reading or allowing any time for the public or the media to digest was filled layered with billions of dollars of projects to satisfy special interests that the Democrats are beholden to.
The bill was devoid of traditional business investment incentives. In their haste to placate the numerous special interests that supported their campaign, the Obama administration failed to recognize the importance of America's entrepreneurs with appropriate incentives to create jobs.
Obama, who has no business experience and appears intent upon transforming America from a country that has embraced and prospered under a free enterprise system into a socialist centralized economy. The redistribution of wealth that Obama and his administration are committed to will serve only to lessen incentive at the top of the economic ladder and further weaken our nation .
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