Barack's Economy Crisis


Barack Obama's stimulus plan is intricate, as with many industries falling bankrupt, it is hard to say if it is worth saving them or not. He and Congress feel it is necessary to send billions if not over a trillion dollars to various corporations, and that if he doesn't keep these companies afloat then, maybe millions more people would be out of work and the unemployment rate would increase tremendously. With the government giving all these bailouts and loans perhaps even more problems arise than solutions.

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The way to end a recession that we are in today is to look at history, and what FDR did with the Great Depression, he and congress put billions into to various public works and made people who worked send money to their families, who would then be able to spend on things to put money back into the economy, which is incense what today's stimulus is, it's giving jobs to people who would otherwise not have them. There are various regulations and things that the people who are getting the money have to abide by, so that the things they are spending it on also help more people.

There're people who do not agree with his plan and think that he is just buying into the companies who don't deserve it, and by the basic laws of Capitalism stated by Adam Smith author of "The Wealth of Nations" governments can't interfere in private corporations, and that if one fails there are more to pick up its consumers so that they are not out of jobs or the service/product.

With the housing market the way it is, banks are afraid to give out loans to people because they are afraid that they will not be able to pay them back, which is how the problem first began, banks were not caring so much about the people, and just gave out irresponsible loans, which now has come back to bite them. One of the few ways to help this is by making sure that at least some of the money is insured by the FDIC, so if a loan does fail the bank does not lose all the money and can get some back. Another is by lowering interest rates, so that people are encouraged to take out loans, which will give the banks money which then gives them more money to lend out.

In the end the government and Barack are the only people who can really help boost the economy, Americans need to learn not to spend more than they take in and need to recover from it.


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