Here We Go Again
As Wall Street, President Bush, Congress and the presidential candidates wrangle over how best to calm investors, reassure the credit markets, and stabilize the economy, we can't help noticing a prominent element of the many proposed rescues. Each one, at times in increasing proportion, involves huge hikes in the already staggering federal budget deficit and national debt, which takes its own toll on the economy. While some kind of Wall Street bailout is widely viewed by experts and politicians on both sides of the aisle as a necessary evil to halt a crisis so wide many cities, businesses and individuals are unable to raise needed cash, critics of the bill in its current form have been meeting with William Isaac, an architect of a 1980s savings and loan bailout whose ideas so far haven't involved taxpayer funds.
The ripple effects of the turmoil that began here have governments around the world scrambling to safeguard their most important financial institutions and have led to both calls for an international conference to forge new financial regulations and reform global economic institutions and new questions about U.S. leadership in the financial sector. Even in countries where most citizens are unlikely to follow the stock market or big business news, the echo of recent rocky times in the U.S. is being felt. In Mexico - where money sent home by Mexicans living in the United States is Mexico's second largest source of income, exceeded only by oil revenue – there's been a 19 percent drop in how much cash got sent back to Mexico. No numbers yet on how other Latin American and Caribbean nations are being affected, but according to a Pew Hispanic Center study, the total cash normally received is in the tens of billions, with the impact no longer limited to the countryside or the poor.
In Congress and on Main Street USA, which the candidates have been repeatedly referencing as the battle rages over what to do about the economy, there are important decisions to be made and we strongly recommend that voters consult our nonpartisan Voter's Survival Kit now and before Election Day, to learn more about different approaches to economic health and the escalating federal budget crisis.
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Is "ACORN" still in the proposed Bail-out Bill ? If so, with "ACORN''S" records of illegal actions and deeds, why are some of their officers not in jail, instead of running for President??
After I have finally lost all of my investments, that I was depending on, for my old age...Where is and what is my "Golden-parachute"??
One of the biggest targets for politicians, as far as economics are concerned, is becoming the payday loan industry. Governors across the country are trying to rid their states of the industry altogether, and so far, Georgia, North Carolina, and Oregon have succeeded. The result was that bankruptcies, foreclosures, and also the number of overdraft fees due to bouncing checks went through the roof, which doesn’t do anything for the citizens afflicted in these turbulent times, and only is really good for the banking industry. Despite these negative effects, other states are looking to follow the example and do the same. Even at the national level, presidential candidate Barack Obama, is weighing in his own agenda on the issue, and advancing his own intentions on getting rid of the industry in the United States completely. If these measures, both on state levels and nationally, are successful, the results are going to be increased unemployment, more debt, more foreclosures, and an even worse economy.
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