Mesa
Super Freak
Good link. It confirms the problem as I see it.
All I know is that the US is overspending money. The US is financing a war that no longer has a point. We're pouring money into other countries (that don't necessarily like us much) that are in trouble while ignoring our own domestic troubles. Everytime there's some unstable area in world peace, the US thinks it's their responsibility to come to the rescue. We spend a lot of money (I don't know the actual figures) on foreign aid and supporting our military to police the world. I fully anticipate our military to stick their nose in Iran and Russia.
In addition to this, here domestically we have created a generation of LAZY AMERICANS who feel entitled for the government to wipe their butt for them. Whether it be wellfare, abusing the broken medical system through frivolous lawsuits, or buying a house they can't afford, a large group of people feel entitled to more than they can afford or should be able to afford without having worked for it. Now before you criticize me, of course I wholely support the US government supporting the disabled (mentally/physically) and those less fortunate, abused, and truely deserving people. Problem is, too many people think they fit in this category. Our goverment and their social reform has made it too easy for people that don't want to work hard for the things they feel they deserve to just ask government to write them a check or extend their credit so they can get those things... and when the bill collector comes knocking, they either find refuge in bankruptcy or ask the goverment to bail them out or help make their payments on their mansion.
Regardless of whether you agree with my view, I think you must agree there is some truth into underlying problem. The United States is facing a serious finicial problem right now. There's no denying it.
And after reading both of these long-term economic solutions, not to be confused with Bush/Congress proposed $700 Billion bailout, I see a clear winner.
Obama's looks good. That's why I linked it first. He's pointed out a lot of problems that we are facing and promises change.
But that's about it. There's little mention of how to get us there.
McCain's plan is over 2X long and full of important details to see us down this difficult path. While Obama has pointed out all the problems, so has McCain along with offering solutions, which also mean CHANGING how things have been run.
The biggest problem that I see in Obama's plan is there is NO mention of cutting goverment spending. That is part of the reason we got into this problem; Our government handing out money like it grew on trees to an "entitled" population. Obama's plan promises more benefits to the lower/middle class. HOW CAN WE KEEP AFFORDING TO GIVE PEOPLE MONEY THAT DOESN'T EXIST??? By restricting the wealthy and increasing their taxes. Guess what, ^^^^^ rolls downhill, who do you think those increased costs will be passed on to? McCain's plan recommends cuts in government spending, eliminating dependence on foreign oil, alternative fuel research, fixing a broken healthcare, punishing those responsible for our current economic crisis. It covered so many different points, some of which I can't recall at the moment.
I wish I could get behind Obama. He sounds like a great leader. But what he is promoting is not going to get us out of this economic slump.
Oh yeah, and if there is any question as to the cause of our current economic crisis, here's how I see it. The credit companies are failing because of the failing housing market. A couple of years ago, there was a housing boom. Real Estate prices were increasing exponentially. They were falsely inflated beyond actual value. During Clinton's 8 years, one of the things that he got passed was to lower the credit requirements on potential home owners, it passed. see the unbiased link on yahoo answersIt was mandated across mortgage companies as a matter of fact. The current president Bush tried to have this reversed, but was rejected by a democratic congress. So what you're left with is low income individuals feeling entitled to owning a $400,000 house/mansion, being promised by unethical loan companies that they can afford that mansion and make payment no problem, and then when prices of homes drop because the supply is too high (as it is now) and the demand is not there, people are locked into a $400,000 loan on a property that has devalued to $200,000. Why would anyone want to stay in that situation, they bail, and the banks are lefting holding the check, and an empty property they can't sell due to low demand. And now those banks can't extend credit, because that money is invested in property (useless to banks) that has seriously decreased in value. This creates panic throughout wall street, and we see 300-400 dips in the DJ on a daily/weekly period.
