knowmyinterests

So with great fanfare and expectation, President Obama has signed the much talked about and controversial bill of the stimulus package, a package he hopes will create over 3.6 million jobs in one year. But will it work? Will it create more jobs, more investor confidence in the markets, will it put more money in the hands of people to buy more goods and services at affordable prices? The idea sounds good but I don’t personally think will do much good except for a marginal difference. Remember the money (789 Bn $ is to go the states. Thats where the problem will come. Who will enforce and oversee how and where the money was being spent? Building roads and bridges is okay for a developing country, but the United States? I think has already made many mistakes, this is one more. Restricting H1B visas to companies hiring foreign workers after availing bailout money will not prove productive. The companies will have to hire less skilled workers at phenomenal wages. Already companies like Infosys, Wipro, and many others in India are talking about laying off hundreds of thousands of jobs in India. God help the United States and the countries that do business with it.

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