Monday, March 16, 2009
Is our economy really rising again?
Well I would like to answer this question by saying yes but right now im still going to have to say no. Even though our economy has been rising daily and showing improvement, that doesn't mean we are getting out of this recession. I heard many people talking about how this recession will be over very soon, but in my eyes I don't see it ending anytime soon. I think there has been many improvements made to help the economy but for now its going to go back down because it isn't stable yet and many companies are still in big debts with the city. Also, banks are still failing and thats one of the biggest reasons why we are in this economic drought. While I was watching the news last night I saw that a big insurance company known as AIG was giving out cash bonuses to its big executives, while they just got a bailout from the city worth billions of dollars. That is like a big slap in the face to our city government who is trying really hard to get us out of this recession and AIG is going around handing big time executives money to go play around with. Many economists were outraged by this latest news and felt that AIG didn't deserve that money and should fall in this economy. I feel that the government is being to nice with their money and they should be giving banks the money so it can grow and get bigger instead of big time companies who are just blowing it on bonuses like AIG. With signs like that our economy will be like this for a while, but there is still sign of hope because us people are starting to realize we have to spend money for this recession to end.
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I heard about the AIG issue as well. A lot of people where saying this all happened because of President Barack Obama, which I find to be really outrages. I truly believe this problem goes back to Bush and all fingers should be pointed at him. Think about this recession occurred when who was in office? I can only hope for us Anthony that this recession is soon over. We are the ones who will really pay for this in the long run if we go into a depression. I can only imagine how many kids will not go to college in the next couple of years, tuition's are only getting higher and people are only getting poorer.
ReplyDeleteI believe, as most people agree, that the economy is in desperate need to be restored for the benefit of U.S. residents and people all over the world. The superior companies similar to AIG need to bring about change in their financial interests. The top bosses and executives are becoming wealthier in the process,whereas the rest of America is getting a taste of poverty. I don't think President Obama is to blame for these issues, the fault lies within these companies that plead for financial support from our government and taxpayers' money. Former President Bill Clinton stated on national television that Obama does not have much options in restoring the economy, except for bailing out the companies first and he claimed that if he were president he would be doing the same. This was Bill Clinton speaking, our former president eight years ago that had the economy thriving in financial success. We can only hope for change, awaiting for a rapid end to the recession.
ReplyDeleteGreat issue. What do you think about the fact that these bonuses are going to be taxed 90%
ReplyDeleteGrade: 3/4