Friday, February 29, 2008
Economic Stimulus.... Really? Mr. President, Really?
President Bush entered his predidency when our nation was at a stong point since the late 70's and early 80's recession. Clinton made the economy stronger and ran down the national debt, than it had been for a long time. Between all the natual disasters, consecutive wars and attacks from 911 our nation's economy has seen many ups and downs. None have equalled the slowdown that we are now experiencing. Stocks down, oil up, housing market down, and general economic instability all face us.I recently heard Bush's speach on the state of the nation, and I can say his view on the economy is correct, however he is off on the severity of the current state. Mr. Bush thinks that the nation is in a slowdown period, and he may very well be right, however I believe that we are on the verge of a major recession. We are currently in a GDP slump, and in one case an actual GDP loss. I have noticed the rate of unemployment has also risen, and I believe that this is because bussiness' have reacted to the early stages of a national economic meltdown.
I would like to bring some of my own insight to Bush's economic stimulus plan. Instead of putting money into the hands of those who do not need it, I would have focused on the national debt. Our national debt is an estimated 9,345,296,162,390.31, and I believe that this has caused the value of the American dollar to dramitically decrease. The decrease in the value has caused a currency deficit with other countries. If we were to decrease the national debt considerably, I believe that this will create a stronger dollar and give markets more security. Most of the U.S. is going to receive 600.00 per household. If we are approaching a recession, wouldn't most people opt to save their money instead of spending? Bush hopes that people will go out and spend spend spend money, but if it were me and I knew the threat of a recession lurked near I would drop that 600.00 in the bank.
I conclude with Economic stimulus....really?............ I mean really? <----probably not!