Throughout the history of the united states, we have had many major events; both good and bad, such as silicon valley and the many wars that took place. Right now we are at the beginning of a major crisis, in which we are currently undergoing a financial recession, which might even become a depression if worse comes to worse. Even though we have our dark hours, we have people that have put aside their glory to fix this problem head on that try their hardest to make it light again. In this case Obama is a major influence to our society, persuading America to join him for his struggle to improve America from the mistakes made by the previous commander in chief. Although I am not even near a professional, if I was appointed into the position to brief president Obama, I would lay down my following key points to what I think would help this economy out of this problem if a bailout is indeed the action that will be taken (which so far it has been). These key points are to keep the money in the right place, jobs have a steady rate, and to ensure a recovery.
All of these steps are equally important and must be treated equally with care, misuse of these will hinder the overall goal of the outcome. So with that note, the first rule I would lay down is a way to track the way that they spend out our money. Even though there is a major risk involved “Congress has failed to put strings on these loans to ensure that banks do not pay extravagant executive bonuses or take expensive retreats.”[1] This unattached sting has been a major problem as the companies that we lend to have no guidelines to be withheld in. So for this problem I suggest an offer to place a government official in their company to manage the money trafficking throughout the company. With this major role shared with the government, there might be some companies skeptical of the government getting this involved with this position of the company. For this problem that will soon to be faced, I believe that the interest in America will greatly appreciate the insurance that we use with companies, no against them, to ensure that they truly are going what they were intending to do with our taxpayers money.
As or the role of keeping companies alive, it is more important that the jobs are sustained with that company. The overall goal is not to save the company from bankruptcy, but overall to freeze layoffs to the slowest possible, and hopefully re-hiring people. “It’s estimated that 11.6 million Americans are currently collecting unemployment, bringing the national unemployment rate to its highest level since 1993.” And this is probably not at its lowest yet. With the strategy that we are not aiming to quickly develop the company into a top hit again, but merely put it back on track to it will be able to sustain and create jobs. With the unemployment rate jumping out windows, it is slowly approaching to be the next depression, although it will not be as catastrophic as the great depression, it will yield parts of America unable to sustain their income to afford the necessities to live in a standard living condition.
As well as getting the jump start to America, It is also important that we also get our funds recovered so we will not be in even bigger massive piles of debt. Even though we can print massive sums of money, it is the value hidden within the currency that makes money septate from everything else in the world. So all these loans brought out from other countries will be expected in around ten years from now. Ten years from now is a significant amount of time, in which we will be out of the ressecion, but the rate of which the companies made after its recovery is still an issue. Our debts are not just forgiving, they are expected back, and in full, one loan or another, the countries will ask for their money back.
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