The New Economic Policy Preaches Stability and Growth

The new economic policy of the current US government has the focus on economic recovery and the financial reconstruction. This new policy states that the current economic crisis occurred due to the irresponsibility of many years. The first priority of the new economic policy is centered to create jobs for the American's. The president has signed the American Recovery and Reinvestment plan that promises to create jobs. Also, the reinvestment plan proposes a long-term investment in sectors like infrastructure, healthy care, energy and education. According to the American recovery plan, it will create around 3.5 million jobs and the reinvestment will give sustainable growth of economy in future.

The new policy also includes the benefits for the "Main Street" and "Wall Street". Under the "Main Street" benefits the common people of America by the Making Home Affordable Refinancing Program, which has the motive to boost the home prices by providing refinance support to 9 million homeowners. The homeowners will have the option of refinancing the houses, which have lost their value in current economic crisis. The Making Home Affordable Refinancing program of the new economic policy will provide $75 billion as a refinancing loan. This will help the families to keep their homes that are currently on their mortgages and have risk of foreclosure.

The amendment of credit flowing for the rebuilding of small businesses and hiring workers is also proposed in the new economic policy. The policy also has the priority of new framework to bring stability to the financial markets. According to the new economic policy, the Wall Street must develop a fundamental plan that empower and protect the American consumers. The new economic policy has guidelines to increase the transparency of financial dealings that includes dealings at the derivatives market. Also, it states the ending of bailout process for the tax payers. The new policy clearly preaches about reforming financial system for the stable growth.

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