Monday, January 28, 2008

Time for a change

Well it looks like the economic stimulus plan will be done through giving us taxpayers a rebate. Even though I personally like the ideal of the government handing me some money and hope that people that owe me money will now pay me back (ok not that likely) I think we should all look at something and that is the fact that we did this all 6 years ago.

Since we are once again in the same but I think maybe people should look at the fact that more then likely will only be a short term fix and we need to look at the under lining problems in the American economy right now.

For example many people point to a big reason for this “economic slow down” is due to the mortgage crisis but it really goes deeper then that. A large number of people who fell victim to predatory lenders where themselves already not doing so well finically. There where a lot of people that took out mortgages to get the money to pay of bills or couldn’t make a payment when the mortgage bill went up because they either lost a job or had a job that didn’t pay to much.

The average American hasn’t really been facing an economic boon. The job creation rate has fallen below the number of people entering the job market and many of the job created don’t really pay that well.

And even for those that do have a good paying job may still be broke because of credit cards.

Until we fix those underlining issues in 5 or 6 years are just going to have to do this all over again. But since this is an election year one can hope that the new president will create policy that will foster a better economy.

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