I believe we have focused more on helping big business and the banking system than we have on the consumers of our society and their individual financial stability. The bottom line seems to be the numbers and the overall picture, while unemployment is still at a very high rate and people are struggling to afford their day to day needs, much less their wants. I believe that we have put band-aids on our economy and improved balance sheets, but not the actual picture of our society's economic vitality.
Our economy is interconnected with real time conditions in the global marketplace. During these difficult economic times, passing a multi-billion dollar jobs bill, shoring up banks, introducing tax cuts, extending unemployment benefits, and cutting interest rates are the main components and initiatives to establish a sustainable, long term recovery. However, the world markets will not stabilize unless other countries adopt similar measures. Additionally, many experts constantly tell us that any economic recovery takes at least 3 to 4 years and the last indicator to bounce back is the number of jobs. Therefore Mr. Obama has done all that can be done under the circumstances and now the hardest part is to wait for employers to begin hiring workers back, which could take up to a year. The cyclical nature of the economy makes it difficult to pinpoint when the recession will end, but at least, we know we're on the right track.
New administration-same policy. Spend, Spend, Spend, and oh ya Spend. Nothing has changed. Bush did the same thing Obama is doing. People need to realize that.
American financial stability requires more leadership from Congress and the President. There needs to be more restrictions on big companies, particularly banks, so they cannot take advantage of people during this difficult time. You also need another stimulus, one that goes further and promotes more spending to get the economy moving again.
It is critical to cut costs wherever possible in order for the U.S. to regain financial stability. The first cut that should be put in place is the health care that was created. This would create a lot more funding available for the U.S. From there, the way funding is used should be reassessed and cuts should be made in places where there is the most inappropriate use of funds.
The government reacted quickly to the financial crisis in 2010 and sent out money to people, but the money was absorbed back into the system very quickly with little effect. Many people are still suffering without a job and due to the massive national debt, more cuts are bound to happen to programs meant to help financially struggling families.
It is absolutely ABSURD that we haven't raised taxes on millionaires yet. Clinton did it and the country had one of the most prosperous periods ever. It is time to eliminate tax loopholes for the wealthiest Americans so they too, can sacrifice a little something for their country like the rest of us!
The U.S is on the verge of another depression. There has to be a way to try to pull the economy upwards. While the government officials refuse to take any sort pay cuts, there are millions of Americans without jobs or any sort of income, with families to try to support.
The national debt in this country is massively excessive. It is in the trillions of dollars, a figure likely never seen before in American history. Suppose a population of 300,000,000 people, and a national debt of 10 trillion dollars. This means to solve the national debt, each American would have to pay an average of $33,333 to the government to get us out of debt; for many Americans this would take up more than their entire yearly salary. The interest on the national debt will compound the problem. To solve the national debt, we need a combination of raising taxes (which will only put a debt in the problem), and combine this with significant cost cutting programs, reduction in the military (which could save billions), and minor dilution of the currency so as to not destroy too much of the real wealth of current Americans.
No, we are not doing enough to regain American financial stability, because we have to stop spending money we don't have, and we have to cut all programs, so governments throughout the world know we are serious about our financial problems. We should also stop printing money, so the dollar will stop being devalued as a currency.
The government, and in particular this President, is not capable of understanding what is really needed to make America financially stable. So I definitely do not believe we are doing enough.
It seems that, ever since the financial crisis, more jobs and homes have been lost. Some reports say that there is a slight decrease in unemployment rates, but I think that is due to some seasonal jobs. And, not to mention, most people do hire extra help over the holiday season. We need a long-term fix for social security, and need to decrease the U.S. debt.