How to fix the economy
To say Obama has his work cut out for him is certainly understated. Left with an economy rivaling the depression of the 30’s, it’ll be interestig to see how he goes about it.
The main question is how to fix the ever downward spiral of the US economy. Housing, credit, automotive industires are all a mess. The treasury secretary thinks that getting credit flowing again will jump start the economy.
Personally, I think that’s crazy. Credit or giving credit to companies and individuals who couldn’t afford it in the first place is what got us into this mess. Lenders were giving away credit like it was no big deal.
If the US economy needs credit to repair itself, then the economy is indeed in deep trouble. Does it make any sense to go more in debt to get out of debt? It doesn’t to me. Giving people more credit only hurts people more. People shouldn’t be buying stuff if they don’t have the money. Even Warren Buffett says get rid of your credit cards (and he owns a credit card company).
So thinking that Americans need to rely on credit to get the economy going again is like thinking we need to more into debt to help out the economy. That isn’t financial strength, that’s just a deeper hole. to me.
How generating ways to get out of this crisis without putting us more in debt as a country??
For example, one idea would be to legalize soft drugs in this country and tax the hell out of them. According to the news, people are using these drugs anyway, so we could save all the money we spend on the ‘war on drugs’ which isn’t working and stop throwing these people in jail and start taxing the sales of drugs instead. It would be essentially like taxing tobacco, or alcohol. That would most definitely generate income for the US. Perhaps even pay of the debt in just a few years.
The potential future secretary of state Bill Richardson believes in the legaliazation of certain drugs for numerous reasons. It isn’t a far fetched idea. If people are already using the drugs, we could bring it out in the open and instead of treating these people like criminals, we could generate income from the sale of this drugs, could control the quality, and it would help protect the US National Parks (which are being devistated by marijuana growers and peticides) and help put things into a healthier perspective.
I think we need to generate other idea for economic growth instead of going deeper in debt and relying on credit to get us out of this mess, when it was credit that was the cause of this problem. That just doesn’t make any sense to me. Leveraging our future to help improve the immediate times is not a good strategy.
