If the rescue plan fails to work and the economy continues to dwindle, I believe are nation will face the same diminishing future. Right now we are over $10 trillion in debt, U.S. consumers are $1.7 trillion in debt, we are currently in a war (which we are spending large sums of money on), U.S. citizens have lost their homes and their jobs...lets not say things can't get much worse for superstitions sake...but if the plan doesn't work, I think the U.S. will be far far away from its glory days.
We have currently spent over $5 billion on the war, and that price is only continuing to rise by the second. Wars are already devastating enough, and many times result in complete devastation. The nation is really at risk being so economically strained and then in a state of defense on top of that. It is estimated that total costs at the end of the war will exceed $3 trillion. The previously mentioned estimate on current war expenses does not include hidden costs, only upfront defense costs. According to an article I found in The Washington Post, the war in Iraq is now the 2nd most expensive and lengthiest war in the history of the world.
America has always been a country of "greats". Great land, great opportunities, great fortune. Well as I mentioned in my previous post, we now have the greatest amount of national debt in the world, the greatest amount of consumer debt, and are in one of the greatest and most expensive wars. At least were sticking to our reputation...
Frankly, the plan has to work. Changes have to be made. The rescue plan needs to cut back all extra money its implementing and stick to the basics. At first I thought Obama's plan of putting money in programs that help the economy and foster renewable energy was a great idea. But honestly, when it comes to a bill specifically focused on helping the economy, it needs to do just that. There is nothing wrong with attempting to improve the nation in many aspects, but we have to stay focused and not spend more than needed...because we definitely do not want to increase our debt. I feel that the once "great" nation of America will quickly fall and be nothing if we do not use common sense with spending and the government does not properly regulate the economy.
A First Look at Phoebe Philo’s New Collection
20 hours ago
_KIJU%20copy.jpg)
3 comments:
Britney,
Obviously with all the national debt, America needs to come up with a rational plan to help raise us back up. I agree that if a bill is focused on the economy, then thats what needs to be the center of attention. Although energy is also a major issue that needs to be addressed, it should be done in a separate plan, because new jobs are not going to be enough to pull up the US's economy. Also both candidates have proposed tax breaks, McCain for big businesses and Obama for the lower and middle class, but aren't taxes the governments main source of revenue, and if so then how would the government reel in more income if it lowering its most abundant source?
Caitlin
Britney,
What in the world do we do about 10 million dollars. This is absolutly ridiculous! There are so many things that we have to fix that all need to be addressed in their seperate, but important plans. It would be great if you could give us a plan that worked and fixed all our problems because obviously no one knows the perfect plan to fix everything. Do you think either canidate has a plan good enough to satisfy most of the problems?
Britney,
Great post. I agree that our country's national debt is absurdly and embarrassingly high. I agree that our country is well on its way to deterioration, especially from overspending. But what do you think would happen to our economy if we didn't have a plan to jumpstart it? I honestly do not believe that the economy can repair itself within the next four years before I graduate from college and that thought frightens me. I am all for the Rescue bill because I think that a $700 billion boost to the economy reaps more advantages presently and in the future than the plan to sit back and watch.
Keep up the great work!
Thanks,
Merritt
Post a Comment