BU reacts to Obama’s stimulus package

The gargantuan stimulus bill President Barack Obama signed into law Tuesday has drawn both criticism and admiration in the few days since it has passed.

Reaction to the $787 billion stimulus package on Boston University’s campus is one of cautious hope, students and professors said.

Some, like BU economics professor John Harris, said the bill, despite its $787 billion price tag, might not be enough. More funds need to go toward unemployment compensation, Harris said.

‘It definitely is helpful. The question is whether it’s helpful enough,’ Harris said. ‘It probably should be larger. I would like to see more aid to states and tax cuts.’

The package will impact students in the near future, Harris said.

‘Students who are graduating are entering the job market in terrible shape, so it might have positive effect over the next two to three years on employment,’ Harris said. ‘There is also expansion of Pell Grants and increased availability of financial availability of loans to students.’

Starting July 1, Pell Grants, which are federally funded college loans, will go from a maximum of $4,731 to $5,350 with funds from the stimulus bill.

The alleviation of the economy’s woes could also help BU get back on its feet and hire needed faculty, Harris said.’ BU President Robert Brown announced a hiring freeze for faculty Sept. 30.

The BU administration is not hiring the faculty and support services that Harris thinks the administration needs to be hiring, he said. ‘ ‘ ‘

‘Professors are tuition dependent,’ he said. ‘There is a family increase in reliance on student aid.’

Despite any shortcomings of the stimulus package, the Obama administration is not deaf to suggestions, Harris said.

‘Obama is interested in finding out what is happening and is willing to make adjustments,’ Harris said.

In contrast, Buz Aaron, the director of accounting services at Braver, a financial services firm in Boston, said he was optimistic about the package, but said any solution to the economic crisis will take time.

‘I think we need to do something, and this is a good start,’ Aaron said. ‘There are no guarantees. It’s not an instant fix. Its going to take time to do what we hope it’s going to do.

‘Hopefully, this bill will put extra money in the pockets of tax payers,’ he said.

Aaron said there are some faults in the law.

‘There are parts I would like to see increase so people were getting a little more,’ Aaron said. ‘There is not enough of an incentive.’

Although there are noticeable flaws, the fact that the law was even passed is a great achievement, Aaron said.

‘The country is in worse shape than any of us have seen in our lifetime since the great depression,’ Aaron said. ‘The magnitude and the time frame that it will take to fix is extraordinary. The fact that the president pushed it so quickly is terrific. There is no such thing as a perfect bill, but it’s a start.’

BU students said they are hopeful the stimulus bill will push back the gloom that the recession has brought on daily life.

‘I hear every day on the news about how the economy is doing badly and Obama’s plan sounds promising,’ College of Arts and Sciences freshman Margaret Purdy said.

College of Engineering freshman Sharon Wolfson said since she comes from Florida, a state she said is known for its poor public education system, she hopes the stimulus bill will revamp education in the whole nation.

‘I think Obama allows us to take back control of our government and education,’ Wolfson said.