What to do??
The economy is continuing to melt down. The holidays were dismal for retailers, the Congressional Budget Office tells us that the current deficit is $1.2 TRillion (TRillion...that's a billion times a billion), China is souring on holding notes from the US, the stock market seems to have forgotten that "up" is a direction in which stocks can go, banks are cutting interest rates, and the news just keeps spiraling down.
What to do??
President-Elect Obama is, as I write this, speaking at George Mason University, spreading the message that we have to do something. We HAVE to do something. The recession is already eating into our jobs — unemployment is already at 7% and expected to rise to 9% by the end of 2009 — and it could affect our ability to afford college for our children, assets like homes for ourselves, and could send the country into a decades-long tailspin.
“We could lose a generation of potential and promise, as more young Americans are forced to forgo dreams of college or the chance to train for the jobs of the future,” Mr. Obama plans to say in his speech at George Mason. “And our nation could lose the competitive edge that has served as a foundation for our strength and standing in the world. In short, a bad situation could become dramatically worse.”
We have to do something.
I don't know whether the economic stimulus package proposed by Mr. Obama will work, but it will create jobs (many in the public sector, true, and therefore paid for with tax dollars), thereby providing more families with the security of employment, which will enable at least those people who might otherwise be unemployed, to keep their homes, send their kids to college, and stave off economic disaster for one more day. It does so at the price of increasing our national debt load ... you can't add to spending and cut taxes without going into more debt ... but somehow I have confidence that things will improve. I see Mr. Obama surrounding himself with some smart people, and doing so with little respect for party alliances. I see this as a ray of hope in these dark economic times.
Source: NYTimes, 8 January 2009
Nancy
Delain Law Office, PLLC
THE INFORMATION PRESENTED HERE IS GENERAL IN NATURE AND IS NOT INTENDED, NOR SHOULD IT BE CONSTRUED, AS LEGAL ADVICE. THIS POSTING DOES NOT CREATE ANY ATTORNEY-CLIENT RELATIONSHIP BETWEEN US. FOR SPECIFIC ADVICE ABOUT YOUR PARTICULAR SITUATION, CONSULT YOUR ATTORNEY.
What to do??
President-Elect Obama is, as I write this, speaking at George Mason University, spreading the message that we have to do something. We HAVE to do something. The recession is already eating into our jobs — unemployment is already at 7% and expected to rise to 9% by the end of 2009 — and it could affect our ability to afford college for our children, assets like homes for ourselves, and could send the country into a decades-long tailspin.
“We could lose a generation of potential and promise, as more young Americans are forced to forgo dreams of college or the chance to train for the jobs of the future,” Mr. Obama plans to say in his speech at George Mason. “And our nation could lose the competitive edge that has served as a foundation for our strength and standing in the world. In short, a bad situation could become dramatically worse.”
We have to do something.
I don't know whether the economic stimulus package proposed by Mr. Obama will work, but it will create jobs (many in the public sector, true, and therefore paid for with tax dollars), thereby providing more families with the security of employment, which will enable at least those people who might otherwise be unemployed, to keep their homes, send their kids to college, and stave off economic disaster for one more day. It does so at the price of increasing our national debt load ... you can't add to spending and cut taxes without going into more debt ... but somehow I have confidence that things will improve. I see Mr. Obama surrounding himself with some smart people, and doing so with little respect for party alliances. I see this as a ray of hope in these dark economic times.
Source: NYTimes, 8 January 2009
Nancy
Delain Law Office, PLLC
THE INFORMATION PRESENTED HERE IS GENERAL IN NATURE AND IS NOT INTENDED, NOR SHOULD IT BE CONSTRUED, AS LEGAL ADVICE. THIS POSTING DOES NOT CREATE ANY ATTORNEY-CLIENT RELATIONSHIP BETWEEN US. FOR SPECIFIC ADVICE ABOUT YOUR PARTICULAR SITUATION, CONSULT YOUR ATTORNEY.
posted by Nancy Delain at
11:29 AM
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