Best Sign of Stimulus Will be Boost in Jobs

Well, the huge, every growing, now almost trillion dollar stimulas package that Barack Obama and his team have come up with was finally signed into action last week. And with that, you’d have thought the economy (ie stock market) would have turned up in response to that, however, it didn’t, it actually went down again, along with most retiring American’s investment portfolios, and many other small businesses hopes of a quicker turnaround than anticipated.

Many think that we are just too far into this recession for any type of government intervention to make a difference, and the sad part is that they may at least be partially right, we may need to just wait out good old fashioned American capitalism and consumerism to take hold again to get the economy flowing. I know this end myself, being a small business owner who sells goods and services online, that my sales have suffered immensely since the start of the downturn, and one of the things I’m waiting most on is for the turnaround to start in regards to consumer spending.

Even though that’s the part I can’t wait to start to see happen, I know that the part that most economists predict will actually be the real sign that things are picking up is going to be the new jobs that start to emerge as part of the package promises. Obama wanted to created thousands, if not millions of new jobs through the package, presumably people who would be working as part of the huge infrastructure rebuilding effort, but that is yet to be seen of course because it’s still too early.

With all of the people losing jobs, this is what’s starting to really spin the fear out of control, further contracting the formerly loose credit markets, and making people start to save their money consistently instead of spending, which is what keeps the economy going. Unfortunately, this new found discipline, which was obviously much over due for many Americans, is also a huge part of the problem of the ailing economy. Time will tell whether this stimulus will help to boost the economy, but one thing’s for sure. It won’t work alone and needs a lot of our help to get us back to where we were before.