There is a solution to the Foreclosure Crisis. I do not propose that this is my own answer, but that it is born out of Love. The love for all my family and friends and the country as a whole is the reason for this proposal. Their fates and indeed the fates of our way of life in America depend on what we do at this time in history. The admiration and love for the foundation on which this country was established is an additional motivating factor. Needless to say we can neither turn our backs on all those who have shed blood and even given their very lives for the principles of our America. To allow this jewel of freedom and prosperity to falter and deteriorate would be the most monumental political plunder ever recorded. We can not afford to blow this opportunity.
First we should ask ourselves, why are we giving money to the same greedy individuals that are responsible for the predicament we find ourselves in? If the people must pay this money back, why can they not benefit directly from this economic package? At this point the President fully expects the people to repay the borrowed money through taxes. Through the money changers it seems the citizens of the United States, will be allowed to borrow their own money back at what will no doubt be at ridiculous interest rates. It is the people’s money, for we are the ones who are required to repay the loans. So the citizenry must be permitted to benefit.
In order for this proposal to go forward and be successful there is one thing that is of most importance. Every citizen must acknowledge and accept the realization that we are all aboard the same sinking ship. Our financial fates are inescapably connected.
Now to insure that this concept is given an even chance to survive an...
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Patterson, T. (2008). American Democracy. New York, New York: McGraw-Hill.
Paulson T. (2009) America Needs Reform. The Vancouver Sun, Retrieved From http://www.vcstar.com/news/2009/oct/12/america-needs-to-reform/
Reuters, T. (2009). U.S. Fed sees modest improvement in economy. The Vancouver Sun, Retrieved from http://www.vancouversun.com/business/fp/sees+modest+improvement+economy/2128797/story.html#
Salant, J. (2009). Voters Back Obama Over Republicans on Health Care, Poll Finds.
Bloomberg, Retrieved from
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Varzi, M. (2007, August 17). A Debt Culture Gone Awry. New York Times, Retrieved from
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Another $102 billion would be used to help victims of the recession with unemployment insurance, health care, food stamps and job training, while jobless aid would also be increased by an extra $25 a week. As we can see, the evidence is clear and growing by the day, the Recovery Act is working to soften the greatest economic downfall since the Great Depression and is laying down a new foundation for economic growth.... ... middle of paper ... ...
Hunger is in America, the world’s wealthiest nation. 14.5 percent of U.S. households—nearly 49 million Americans, including 15.9 million children— struggle every day to put food on the table. In the United States, hunger is not caused by a scarcity of food, but rather the continued prevalence of poverty. We as a nation must come together to confront hunger and poverty in the United States. Therefore, let no man object to my plan by proposing to provide Good Jobs for many Americans, the U.S. labor market no longer works as a reliable way to build a stable career and support their families, Work Support Programs that help to expand access to affordable health care and child care, and strengthen tax credits such as the Earned Income Tax Credit and Child Tax Credit, which help working families, and Child Nutrition Programs which are critical to ending childhood hunger.
Allowing market participants to begin putting their resources back to work in areas they’d be most beneficial. President Obama’s fiscal responsibility summit last February indicated that he understood the urgent need for fiscal discipline. Congress’s enactment of the American Recovery and Reinvestment Act and President’s proposed budget makes the goals of a sustainable budget and addressing nations longer term fiscal priorities, such as entitlement liabilities, even more elusive. The administrations recently released midsession reviews from the office of management and budget that over the next 10 years the accumulated deficits will total $9 trillion which means that the debt held by public will be a staggering 77% of GDP in 2019. If the debt level continues to grow faster than our economy, the US will owe more than it makes.
As of today America’s national debt is 18 trillion dollars and approximately 5 trillion of that is held by foreign countries including China and Japan. In the last few years we seem to hear more about balancing the country’s budget and politicians raising the debt ceiling so we can pay on this debt. How have we gotten into such an overwhelming and complicated problem with our nation’s money? Ironically the same can be said for our individual household debt as well as making the same mistakes and trying to find creative ways to be accountable to our financial responsibilities. Teaching the basics of personal finance n our schools can culturally change our financial practices, leading to a more financially literate public and a stronger, more stable, America. If the younger generations can become more financially savvy, then there is an opportunity for our nation as a whole to become less dependent on debt to survive.
“The National Debt (sidebar).” Issues and Controversies. Facts on File News Services, 23 Jan. 2009. Web. 25 May 2011. .
The American Recovery and Reinvestment Act was signed into law by President Obama on February 21, 2009. The law had three major goals which were all aimed at stimulating a sluggish US economy. The first goal was to create new jobs and save existing ones by tax credits for hiring new employees. The second goal was to spur economic activity and investment in long term growth by increasing the amount of business asset that could be acquired by companies while allowing for immediate deductions for the cost of the assets as well as numerous tax credits for individuals and businesses. The third goal was to foster unprecedented levels of accountability and transparency in government spending by requiring recipients of recovery act funds to post acknowledgements on the Recovery.gov website.
Not only did Carter and Reagan Administrations help cause the Recession, President Clinton helped. “Clinton then established official government poli...
U.S Federal Deficit and Debts:Understanding the history and context. (2011, November 1). Utah Foundation. Retrieved January 25, 2014, from http://www.utahfoundation.org/img/pdfs/rr7
What the world needs now is Money Sweet Money"; that is not the way the song goes however that is surely the way our world and economy does. Money and its importance relative to the US Government have always been difficult to figure out especially when it comes to interest rates. Due to our Federal Reserve System, its chairman Alan Greenspan, and his Board of Governors dedicated to seeing that our economy blossoms, those doubts have become a thing of the past, for now.
The Committee on Public Debt Policy. Our National Debt : Its History and Its Meaning Today.
Lanchester, John. I.O.U.: why everyone owes everyone and no one can pay. New York: Simon &
...rom falling into debt. People who are entrenched in debt, however, should employ a strategy of cutting down variable spending and putting the extra money towards debt payments. Akin to the proposed balanced budget amendment, this ensures that they lose less and make more money.
" The US Economy. N.p., 31 Oct. 2012. Web. The Web. The Web.
...company workers being affected by the financial crisis. We don’t want to point fingers here only assess the ethical dilemmas that these companies face. Subjective human judgment opens up for the possibility of undesirable human biases and manipulation. However, with or without human judgment, financial models of credit risk are subject to manipulation, both legally and fraudulently.
Ferguson, Niall. The Ascent of Money: a Financial History of the World. 1st ed. New York: Penguin, 2008. Print.