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Economic issues: Whose fault is it anyway?
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Have you ever wondered how the current “recession” started? Many including Congress contemplate that very question. However, their answer consists of a lot of finger pointing.
Frankly, thinking back, I personally noticed the start of the downturn of the US economy in early 2008. Although, statistics report it happened way before 2008. What I happened to notice was an increase in foreclosed homes. I even knew people personally who were going through foreclosures. It was at its all-time high.
At that point, it didn’t seem like Congress cared so much, at least they weren’t implementing any plans or bills to solve it at that specific time. After the foreclosures, then the gas skyrocketed out of control. From that time forward, the economic problems kept skipping upward until it began affecting the banks and automotive companies.
The Democrats want a government run system for the most part – continually printing money, and the Republicans want tax cuts for small businesses. Who’s right? Actually, a better question might be: What works best for the economy? Time will tell, and currently, the Democrat’s are running things.
The problem should have been nipped in the bud by Congress taking serious notice of the foreclosures in late 2007 and early 2008. Action should have been taken immediately, and not stalled. Google.com made comments that if Congress would have paid attention to keyword searches people were typing, they would have noticed that unemployment and keywords relating to money problems were high on the engine searches.
It’s been determined that many home buyers were put in bad mortgages. Is it the people’s fault, or the mortgages/banks faults? If you own a house, you are well aware how much paperwork you must fill out, and look over and evaluate. The broker wants his/her commission and the homeowner wants his/her home. Greed was certainly a factor.
The bailout monies that recently went to the auto companies and banks – most were loans, however, some were grants – grants as in free money. Loans as in – they are expected to pay the money back to the government. However, if some of these companies are going bankrupt, they will not be able to pay the money back and it’s a lose/lose situation. However, you have to wonder that the government knew some of these companies would not be able to pay the money back before they lent the money.
Besides all the economic troubles that are happening now, I truly believe that the future falls into the hands of the current leadership. And not only the current leadership, but how people like you and me perceive the future. Perception is a very strong aspect right now. Only time will tell if we are heading in a secure, more fulfilling future. Having an optimistic outlook is definitely going to be put to the test.
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