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Billions of dollars are set to stimulate the economy with the passing of the American Recovery and Reinvestment Act, but University of Maine professors are wary of its benefits.
George Criner, professor and chair of the UMaine economics department, hopes the plan will “get people working as soon as possible” and wants to see an increase in Maine’s infrastructure, including road and bridge repairs.
According to the stimulus plan, the money will create 16,000 jobs in Maine – 90 percent of them in the private sector.
Elizabeth McKillen, UMaine professor of history, is happy to see “money go toward social programs, [such as] job creation.”
Congressional lawmakers expect the stimulus plan to jump-start the growth of the economy by creating 3 million to 4 million jobs in the next two years.
One of the biggest controversies of the plan is the money appropriated to states. Criner believes appropriating money to states is a good choice and said “money for states, such as Kansas, [which] can’t pay their state income tax return” is a good start to solving our economic problems. Likewise, McKillen sees this as an opportunity to support infrastructure programs within the states.
“Tracking it will be difficult, [and it] will be a nightmare to assess how funds are used,” said John Mahon, dean of UMaine’s business department.
Mahon hopes that the plan will “provide tools to promote productivity” and strengthen the economy but worries the plan does not clarify how that will be done.
Mahon believes the government should be ready to prove the plan is working.
McKillen sees the stimulus plan as “an expansion of the New Deal.” She hopes the stimulus will result in a “revival of the labor movement,” which she believes is “critical for our economy.”
McKillen said the last time the nation suffered financial woes, “there wasn’t enough government spending. . I think we need another New Deal.”
Criner is hopeful the money set aside for clean energy will go to “off-shore windmills and research into refining ethanol from trees in Maine.” This would create new jobs for Mainers and allow research and development of clean, renewable energy sources closer to Maine.
“Spending billions of dollars overseas for energy is not sustainable,” Criner said.
Mahon is happy to see money going toward clean energy but is worried it is not enough. Both Criner and Mahon believe investing in clean energy is essential to sustaining the economy.
Mahon hopes the government will increase the amount of money it is already spending on education and make college more affordable.
Although hopeful, Mahon has some advice for UMaine students: “Save your money right now.”
