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Article by Peter J. Normandia. Follow me on Twitter.

Every Wednesday is Personal Development in Business…

As a business owner, and an American, I’m a little torn about the whole Stimulus package about to be passed by our Government, and I’d like to hear your input. The concept of the Bailout is supposed to be to provide a cash infusion that will stimulate short term growth to get us out of the worst recession possibly ever.

For those that do not think this recession is anything new, I have this bit of news for you. In the late 70s, and even during the Great Depression, there was one major difference between those recessions and this one: our government had money.

That’s right, this is the first time I believe in history where not only is the country broke, but so is our government. They actually are going to just print billions in paper and call it money, something in style since the early 1970s.

Now I have heard about the spending on the war in Iraq, but how about the spending on Healthcare? Does anyone realize as a country, we spent over $2 trillion dollars on Healthcare last year alone? I mean, our Government burns through money faster than me on payday.

However, it is not Barack Obama’s fault we are in this situation, and he is doing his best, and what he thinks is right, to get us out of this rut. I just personally don’t think he has a chance with this bill. However, I am no expert.

History in other countries, specifically Japan in the 90s, has shown that Stimulus packages do not usually have the desired effect. Japan tried that road in the 90s and wasted a decade on it. The way they finally emerged from their recession was by cleaning out all the companies that should have gone under in the first place.

What do you think?

I do not believe in the stimulus package, but I only know what I read. I am curious what the collective opinion is on this major Historical event, and how it will be looked at in hindsight later on. So here are the two viewpoints…

The Yin

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Barack Obama is a great man, dedicated to helping our country. In a crisis of this magnitude it is critical for the government to take control. The package that Congress has passed is going to stimulate the economy short term, create jobs, and help save money by investing in technological upgrades for the government and Healthcare. This will be the defining moment for Barack Obama’s presidency because of the triumph it is destined to be.

The Yang

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Barack Obama has a good heart, but is way too inexperienced to handle this monumental task. This stimulus package is really a spending package that will not only fail to have the desired effect short term, it will actually have a negative impact long term. If the government wants to get involved, they should force the banks that gambled on Sub prime mortgages to go under and be bought up by the stronger banks that did not take that risk. The same should go for other struggling industries. Where one business fails, another will rise. The only way a market corrects itself is by being allowed to run its course.

Now it’s Your Turn

I am extremely interested in getting a collective take from everyone on this monumental event in history. All opinions are welcomed and encouraged. We could all learn something from everyone’s unique perspective.

There are two questions:

1. What industry are you in?
2. Are you leaning toward the Yin, toward the Yang, or somewhere in the middle, and why?

For more info on the possible effects of the recession check out this article.

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