Monday, October 20, 2008

Financial Crisis and solutions

The hottest topic on the campaign trail has been the economic policies of both candidates, based on the recent stock market woes. Its been clear that the plans of both candidates were in need of being compromised to help alleviate the faltering American economy, however both candidates refuse to withdraw on their promises, and are proposing programs that would put the nation into greater debt when put into effect. However of the two candidates I am more partial to Obamas plan, that I feel will benefit most Americans during this financial crisis instead of some. His first orders of business is to examine government sponsored programs, and give money to the one that work to allow them to flourish, and to exterminate the ones that are having no effect. With this money he will fund educational programs and health care. Taxes also are an even bigger issue now. Instead of McCain’s plan to keep taxes the same which will hurt people after feeling the effects of the faltering economy, Obama instead proposes to lower taxes for people making less than 25,000 and to increase tax rates on the wealthy and on corporations. Both candidates propose to keep Bush's recovery plan, and to make sure that companies aren't taking advantage of the money given to them, Obama is on a crusade to " stop the corruption in Washington," as well as in the stock market. His pleads for the American public to prepare for and act responsibly in the impending recessions are more realistic than McCain’s proposed optimistic policies, that don't even sound realistic. With the new economic crisis, all other factors such as foreign and domestic policy get thrown into the mix, and all of the president’s plans will depend on the turnouts of the changing economy.

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