The American economy has continued into a downward trend and quickly
requires some form of rejuvenation. The economy needs to be repaired
through more money in people's pockets, the disbursement of jobs, and a
better economic system. Through maintenance, the U.S. economy can
become prosperous once again.
Providing money to struggling companies and people is important to
help repair the damaged economy. "Barack Obama and Joe Biden will enact
a windfall profits tax on excessive oil company profits to give
American families an immediate $1,000 emergency energy rebate to help
families pay rising bills. This relief would be a down payment on the
Obama-Biden long-term plan to provide middle-class families with at
least $1,000 per year in permanent tax relief." It is important that
the people of America are given some relief from the economic recession
to help cope with bills and taxes during this perilous time. By
providing money to the people, some losses can be counteracted. If
Americans have money to spend they will help the economy by purchasing
goods and services. If these goods and services are not purchased,
businesses will need to close and people lose their jobs. However,
disbursing jobs is even more imperative than simply providing immediate
short-term relief.
Disbursing jobs to needy Americans is necessary to counteract
the growing amount of job losses. Due to the damaged economy, many
companies are being forced into bankruptcy causing employees to lose
their jobs. Other companies are choosing to close their doors rather
than restructuring. The economy is presently in state of great flux.
For instance, in Detroit car manufacturers are laying off employees.
The small businesses in the area that depend on the employees support
have to fold also. This snowball effect continues down the chain.
Therefore it is extremely important to keep Americans working to
prevent businesses from failing. We need to be selective about where to
invest our limited resources. "Obama and Biden will invest $150 billion
over 10 years to advance the next generation of biofuels and fuel
infrastructure, accelerate the commercialization of plug-in hybrids,
promote development of commercial scale renewable energy, invest in low
emissions coal plants, and begin transition to a new digital
electricity grid. The plan will also invest in America's highly-skilled
manufacturing workforce and manufacturing centers to ensure that
American workers have the skills and tools they need to pioneer the
first wave of green technologies that will be in high demand throughout
the world." By funding and providing money into new promising
businesses, jobs can be created for out-of-work Americans. Although
creating new jobs for Americans is important to help repair the
economy, the foundation of the U.S. economic system itself should
amended.
A better economic system is needed to ensure that such an
economic peril does not occur again. "The world economy needs
short-term stabilization. Yet it also needs structural rebalancing
through institutional reforms to allocate capital stably and
productively as well as translate the growth created by integration
into the broadest possible gains in living standards." Too many
industries are focused on individual profit and often overlook the
consquences of some actions. Industries should be more focused on
profit as a whole and carefully make decisions. Some poor choices made
by some industries include(s) outsourcing and cutting corners.; A
lthough there is immediate profit for the industry, such decisions
damage the economic equilibrium of the U.S.; such actions need to be
either limited or prevented. In addition, some of the laws need to be
changed so that the government more closely monitors investment firms
and the laws that govern them. Any type of scheme that is not based on
sound economic standards should be evaluated by the government for
possible action. This economic down turn was initiated by the poor
oversight of the mortgage industry which should have been more closely
regulated. Overall, the U.S.'s economic system is flawed mainly
because it is easily exploited by individuals for profit at the expense
of everyone else.
The American economy is in recession and requires maintenance.
Disbursing money, creating job, and restructuring the economic system
are necessary repairs that need to be applied to the economy. Through
diligent effort the U.S. economy can begin on a road to recovery.
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