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value of U.S. dollar declining; close to 1.5 million consumer bankruptcies filed thus far this year, and the number increasing? What can the next administration do to put all of these issues in reverse?
2007-11-25 05:15:38 · 18 answers · asked by rare2findd 6 in Politics & Government ➔ Politics
The government can stop spending money like it was water. Every dollar the Treasury prints makes the rest of our money worth less. We are spending trillions of dollars on wars and our military has 737 official bases(many foreign bases are not considered official bases). We are spending billions to help prop up dictators and any government that we might consider useful. The domestic government has grown so large that 1 in six people work for the government and 1 in three are dependent on the government for their income. The next administration can cut government spending by closing uneeded programs, bringing the troops home and closing all foreign bases that are not absolutely essential and by keeping all other spending to a strict budget.
2007-11-25 05:44:37 · answer #1 · answered by Michael R 2 · 1⤊ 0⤋
Well, the foreclosure problem was the lending industry's own fault. They made a great many loans to home buyers who were very poor risks, often at a low initial interest and a balloon rate which rose sharply. The buyers should have known what to expect, since they signed documents agreeing to this payment plan, and the lenders shouldn't have been making so many high-risk loans in the first place. Plenty of blame to go around, compounded by greed and stupidity.
Job loss is a separate issue. Much of it is due to outsourcing, companies going with the lowest bidder, enriching the global economy and their own bottom line while harming the US economy. Companies are in the business of making money for their shareholders, not of economy boosting. If they are not breaking laws, what's to stop them?
Bankruptcy is yet a third issue. A whole generation of people who believe they deserve a certain standard of living before they can actually afford it are being completely irresponsible with credit. Young adults with $22,000 a year jobs are $60,000 in debt, living in expensive apartments, driving nice cars, dressing fashionably, and defaulting on much of their debt when they declare bankruptcy. This damages the economy because it drives up the prices on everything as creditors cover their losses.
It's going to take some economic strong-arm tactics to turn this around. The wealthy individual and corporation should probably take the hit. Under the present administration, they've been given free passes.
2007-11-25 05:29:03 · answer #2 · answered by Anonymous · 3⤊ 0⤋
A lot of people are losing their homes or are being foreclosed upon because they bought homes using variable-rate mortgages.
That means that the bill for your mortgage is low when interest rates are low, but your bill becomes much higher when interest rates rise.
A lot of people bought houses when interest rates were low, that they can now no longer afford because the interest rates have risen. Thus, they have defaulted on their mortgage loans or have had to give up their homes, causing the housing market to fail.
That kind of debt in turn affects the rest of the economy.
The value of the dollar is falling because of our federal deficit. Creating the Department of Homeland Security, increasing airport security, and funding the military action in Iraq all cost money. In addition to that, we still have pork barrel spending and the inability for the President to do a line-item veto on Congressional bills. Thus, there's a lot of government waste going in. We need to bring the federal deficit under control.
2007-11-25 05:31:21 · answer #3 · answered by Chantal G 6 · 1⤊ 0⤋
The people who are foreclosing are mostly johnny-come-latelys who bought into the bubble driving up housing prices. The bubble will correct and once housing is reasonable, people will have more money for necessities that are getting inflated.
Most people aren't losing jobs except the ones that were in the greedy realty industry.. they've had their day.
2007-11-25 06:08:29 · answer #4 · answered by itsjunglepat 6 · 1⤊ 0⤋
The game is rigged my friend. No Democrat can get the funds needed to become president unless he/she sells his/her soul to the interests of the Banks, the Health Insurance Companies, the Military Contractors and the rest of Corporate America.
Guess who leads in fundraising in all of the above categories?
Hillary Clinton. No coincidence the rigged polls have her as the runaway leader.
2007-11-25 05:28:32 · answer #5 · answered by Richard V 6 · 1⤊ 1⤋
Stay on the line to speak to our call center in India about your Chinese-made product. Press #1 for Spanish, #2 for English.
2007-11-25 05:25:39 · answer #6 · answered by Anonymous · 2⤊ 0⤋
They can start by balancing the budget, a surplus or two won't hurt. The country will react if they feel the value of the dollar will be there for them.
2007-11-25 05:25:01 · answer #7 · answered by Alex G 6 · 1⤊ 0⤋
well all those big companies are gonna be bailed out again by us!!!
the ones that gave the subprime loans and easy credit!!!
we will have to pay for the "greed is good" generation again and again!!!
but now we have a war, higher fuel and food and utilities prices also loaded onto the pile!!!
the people that did this to us will walk away and head back to there protective bubble world, leaving us to all fend for areselves again!!!
welcome to reality!!!
actually i fear more for another republican winning the next presidency than i do terrorist!!!
ive got the tools to protect myself against the terrorist!!!
2007-11-25 05:35:05 · answer #8 · answered by Anonymous · 1⤊ 1⤋
We need credit regulations. Too many people take out loans that they may not need, and interest from credit and loans is becoming a problem.
2007-11-25 05:21:33 · answer #9 · answered by Mitchell 5 · 5⤊ 0⤋
The rich are getting even greedier, but their made up inflation figures cannot fool the public for long, greed will be their downfall.
2007-11-25 05:30:29 · answer #10 · answered by . 5 · 2⤊ 1⤋