Sunday, February 8, 2009

Advice for the President

Part 1.

There is a lot of things that i feel our president should address. One of those things is the fact that know one is buying anything freezing our economy and the market. What needs to happen is a stimulus needs to be put on people who buy things like tax rebates or something that drives people to buy items because with out it the economy will never get better and everyone will lose money due to inflation. This quote talks about a stimulus plan that helps the average worker. "The bill produced through negotiations in the Senate late Friday night and into Saturday is a $827 billion package of government spending and tax cuts. It cuts some $40 billion in aid to states from the House version of the bill and scales back President Obama’s signature middle-class tax cut. The Senate plan also creates new tax incentives to encourage Americans to buy homes and cars within the next year."
As well as giving tax cuts and allowing the American public to buy items again we also need to address the foreclosures that are happening. People are losing there houses at a alarming rate and its causing more and more people to become homeless. This affects everyone and especially the house market. This quote shows another part of this stimulus packages job and what it is going to do for the American people. "Well, let me say that there are really four things that we have to do. First and foremost, this crisis started as a mortgage crisis, but what is really driving the foreclosure crisis right now is that people are losing their jobs. And so job number one is to pass a recovery bill that will add three to four million jobs in this country." These two things are major factors that need to be looked and at are things that happened in the past. During the Great depression their was such a large amount of people losing their jobs which caused the economy to drop drastically and the stock market and banks turning over didn't help this either. These are things that need to be fixed and not fixed from the top and hope the wealth trickles down but from the bottom since it is the workers and middle class that owe the upper class due to loans that they were really never able to pay.

Even when we fix all this there are still may peolpe who believe that this wont be enough to stop this depression from happening. A quote from the New York Times by Paul Krugmen, who on the Nobel Prize for economics states, "Even if the original Obama plan — around $800 billion in stimulus, with a substantial fraction of that total given over to ineffective tax cuts — had been enacted, it wouldn’t have been enough to fill the looming hole in the U.S. economy, which the Congressional Budget Office estimates will amount to $2.9 trillion over the next three years." This shows the true extent that these companies have caused and how this greed and distrust over such a long amount of years has pretty much sent out economy into a downward spiral and now were about to hit the ground, cue the sound affect guy because everyone in the United States is going along for the ride. This is in direct correlation with the historical events of the Guilded Age. After years and years of greed our economy crashed and equality was being threatened by big businesses. We need to fix this anyway possible before it gets to far to where all we can do is wait.
Part 2.

My interview will be record with a mac and will be done in the computer room on Tuesday with Jonathon and I interviewing my Mentor at the same time.

"HUD Secretary: We must limit foreclosures - Feb. 8, 2009 ." Business, financial, personal finance news - CNNMoney.com. 12 Feb. 2009
OTTERMAN, SHARON. "Treasury to Unveil Bailout Plan Tuesday - NYTimes.com." The New York Times - Breaking News, World News & Multimedia. 12 Feb. 2009
KRUGMAN, PAUL. "Op-Ed Columnist - The Destructive Center - NYTimes.com." The New York Times - Breaking News, World News & Multimedia. 12 Feb. 2009

1 comment:

Dludolf said...

I like how your advice was clearly stated and seemed manageable. I think your advice could have been more specific though, for example when you agreed that we need to use the recovery bill to create jobs, your advice could have been specific jobs you can create.