G20 stimulus spending on track, says IMF

Link: http://ctv2.theglobeandmail.com/servlet/story/RTGAM.20090426.wstimulus0426/business/Business/businessBN/ctv-business

Summary
Recently, economic leaders from the world's richest nations, known as G20, gathered for a weekend meeting of the IMF (International Monetary Fund) and the World Bank. The meeting had brought up a stimulus package which is expected to meet their pledge to spend the equivalent of two percent of their GDP. $820-billion USD has been spent on these stimulus programs by members of the Group of 20 major economies in hopes of returning the economy to it's previous state.

Relationship
To regain economic stabilization, members from G20 has imposed a stimulus package, also known as economic stabilization programs. The purpose of devoloping this package is to stimulate spending. Referring back to chapter 6, when spending increases, the overal cash flow increases and employment rate increases. Therefore, more jobs will be created and chances of unemployment decreases. If everything goes well, we'll have a recovery in th first trimester of 2010. It is predicted that G20's fiscal assualt on the financial crisis will amount to "5.5 percent of of GDP this year and next." However, if the stimulus package fails to achieve it's goal of restabilizing our economy, we may face public debt that will definately affect current and future generations. Referring to Chapter 8, a public debt is simply the the total of the nation's debt: debts of local and state and national governments. Depending on how much debt is payed off, our current generation will be the ones to pay off these debts. These debts will ultimately be paid through our taxes.

Conclusion
Judging by the confidenct from the members of G20, I believe our economy will return to it's previous state. Other contributions such as the Olympics will definately help our economy by creating new jobs and increasing the cash flow. However, if I am wrong, there will surely be a public debt that will affect our current and future generations.