Since taking office, President Obama has arranged for billions of dollars to be put back into the American economy. His stimulus plan is to provide tax breaks for many of the tax payers, create added benefits for struggling workers, and fund more grants that the country can apply for. While there have always been government grants, now there are even more available and they are easier for the average American to receive.
The added grants are intended to boost public moral and lessen the financial burdens that people are facing. They are also going to increase the economy by giving people more money to spend on things like houses, paying back debts, and covering tuition costs. This grant money is like a gift that will never have to be paid, as long as it’s used for it’s intended purpose.
Since the government grants and stimulus package has come into play, there’s a grant that allows first time home buyers to receive a percentage of their mortgage back in cash. The requirements to get this grant are few and include things like a maximum income, financial stability, and must own the home for a minimum number of years after purchase. There are grants to relieve people of their debts such as old student loans. Again, the main requirement is having a certain income level and not having the ability to pay back the loan. To receive a grant for a college a person only needs to already be accepted into the college for the semester that they are applying for the grant.
The idea behind giving money back to the people is that people will then be able to reinvest it back into the economy. This is not President Obama’s long term solution, but it is a great start to fixing the country’s financial troubles.