The US Economic Crisis

Why is the United States in such dire economic straits?

Over the past six months, the American people have seen and heard the ominous reports that our economy first was advancing toward recession, followed in a short period of time that our economy was progressing to a depression similar to that of 1932. It is the opinion of many laypersons that this economic crisis has been brewing for the past eight years, under the administration of G.W. Bush.

In the past six months, over six million Americans have lost their jobs. Companies, Corporations, small businesses are DOWNSIZING at an alarming rate. States, cities and counties across the nation are in dire financial crisis with no easy solution available. Banks and investment firms are failing, while record numbers of homes are being foreclosed leaving more people homeless and on welfare.

Police, firefighters, and local government employees end up laid off, furloughed or with their hours cut. Husbands and wives when laid off commit suicide and murder their children, and worse. http://www.newsweek.com/id/179247


American corporations over the past ten years in an effort to increase profits for the CEO’s and stockholders, moved technology and customer service jobs to India or China so they wouldn’t have to pay fair market salaries for an American workforce. (I personally have not had full time employment in nine years). Even though hundreds and thousands of high tech workers complained, worried and warned about these events, no one seemed to hear the cries of caution about these actions.

The construction industry boomed all across America, (new homes, condominiums, shopping centers and office buildings) over the last eight years were able to offer less than fair market salaries for skilled workers and began hiring low-wage unskilled workers (mostly illegal aliens); Real estate developers made lots of money, unskilled works made money and skilled and or union workers became unemployed. Additionally, construction materials purchased from lower cost imports instead of buying American forced many local businesses to file for bankruptcy, i.e. the U.S. steel industry.

To date, no action by our Government occurred to stem the tide of off shoring; even some cities are guilty of moving certain segments of the workload offshore.

Friday we bemoaned the newly released jobless numbers, while Republican Congressional people insist that our President and his proposed “Stimulus Plan” is out of touch with the American economy and Americans. http://www.foxnews.com/politics/first100days/2009/02/05/graham-says-obama-awol-stimulus-debate/

Watch CSPAN, and listen to Republican Senators speak for YOU. Their solution to our problems seem to be we need more tax cuts for big business and the wealthy; no money for states or cities, and even less money for education or health care, and the biggie, the housing crisis.

Every time you turn on cable news, you hear some Republican speaking about how bad the proposed “Stimulus Plan” bill will be for Americans. Let us not forget “Rush Limbaugh” with his declaration “he wants President Obama to fail”.

http://www.boston.com/news/politics/politicalintelligence/2009/01/obama_vs_limbau.html

The McCain Alternative $450 billion was entirely “tax cuts” and only Republicans voted for the McCain alternative. “main stream media” has already declared a disaster for Democrats should President Obama’s plan to stimulate the economy fail. In reality, REPUBLICANS are responsible and MUST OWN these failures.

Republicans had control of Congress for the past twenty years, Republicans are responsible yet not one Senator or Representative has stepped forward to say, “it is my fault” …happened.

Just a few months ago, then President Bush told all of us that the economy needed 750 billion dollars to bail out Wall Street, investment companies and banks or the economy would collapse. When democrats wanted oversight and control, Republicans delivered threats that the democrats were impeding the President and Treasure Secretary from saving America. Today we know this was BS; the current Administration is still attempting to determine who received TARP monies and what, how and why it was dispensed, if at all.

What is wrong with these folks?

Remember not to long ago, Americans were paying almost four dollars for a gallon of gasoline; a barrel of oil was between $150 to $180; there were no explanations for the sudden increases in cost, which trickled down to increase cost of food. (Gas is on the creep up as I type)

No one accepts RESPONSIBILITY for –

• Increases in cost of gasoline/gouging
• Gas company record profits
• Record Unemployment
• Failed Banks
• Corrupt Investment Corporations
• Corrupt Investors
• Irresponsible/misuse of tax pay funds (TARP)
• Poisoned/contaminated foods
• Poisoned/contaminated toys and other imported products
• Poisoned/contaminated prescription medicines
• The absolute lack of alternative fuel and power supplies
• Excessive CEO Salaries/Compensation Packages
• Bridges collapsing
• Cities not rebuilt following natural disasters
• Infrastructure failing (power, water, roads, public transportation, etc.)
•
• And there is more

Read a little about Deregulation -- http://www.nytimes.com/2008/11/17/business/economy/17gramm.html?_r=1

In my house, you break it you buy it, you screw up you accept responsibility. Our children emulate what they witness, do we want or need another generation /that feels it can break the law, violate others civil rights, steal and cheat but receive no consequences or accept no responsibility? Each day Americans go to jail for minor infractions of the law; to my knowledge, only two people have lost there jobs because of TARP improprieties.

Bernie Madoff (indicted), is the only person I know charged with a crime, so far. Warned of potential problems surrounding Madoff’s investments group the SEC reports their investigations revealed no problems, leaving Madoff to continue his ponzie scheme.

http://www.telegraph.co.uk/finance/financetopics/bernard-madoff/4443217/Bernard-Madoff-whistleblower-Harry-Markopolos-to-testify-today.html

http://news.yahoo.com/s/nm/20090205/ts_nm/us_madoff

Tar and feathers for those on Wall Street and in Congress may be the only recourse We The People has available to us.

I live in Arizona; I am still searching for that $50 an hour lettuce-picking job, John McCain promised.

I would like Arizonians to do some research on the issue of our current representation in Washington, D.C. (Senators John Kyle and John McCain). During his campaign for President, John McCain boosted that in his entire tenure as Senator, he never requested a single earmark or “pork” for Arizona. This explains why our state ranks near the bottom in almost every evaluation category of government reporting. He also reminded us that he knows very little about the economy. This being the case, why do we need him to represent Arizona in the Senate?

This week alone, state universities in Arizona announced a lack of funding resulting in reducing the staff of teachers as well as increasing the cost of tuition, yet again for in state students. They also announced the close of a virtually new campuses (i.e., ASU Polytechnic in Mesa, AZ), as well as the possibilities of furloughs for professors and professionals (to be determined).

State government announced big budget cuts in public education when for the past two years, the state received fines of $1 million a week because no federally approved English Learning curriculum existed for those whose first language is not English. Additionally, “no child left behind” regulations cost the state funding from the Federal government, as it appears Arizona students can’t pass the required testing to prove “childrens do learn”.

Foreclosures in Arizona are keeping pace with California, Nevada, Florida and Texas. The major employers, Intel, Motorola and Boeing have announced job cuts. We have no job making industries on the horizon. We could, but because our local, state, and federal representatives are more interested in themselves than the residents of Arizona.

Remember, John McCain does not have to worry about foreclosure (he has eight homes); nor does he have any concerns about health care…he receives the best federally funded Healthcare taxpayer money can buy – just not for taxpayers. Neither will have their retirement taken away from them. Neither McCain nor Kyle has any idea what We The People deal with on a daily basis.

Arizonians, we need Government Representatives to work for our State and its residents, not just a select few who can personally profit from back room deals or corporations.

Arizonians, as you drive around this weekend, observe the empty -- strip malls, homes, schools, closed hospitals, think of all the major store closures (Mervyn’s, Circuit City, Albertson’s). Think of all the people who became unemployed because these stores closed. What will replace them how will we ever get people back to work here?

I plan to demand some answers from my City Counsel, my State Representatives, my new Governor and my Congressmen. We can no longer stand around doing nothing, write, phone, text and email your representatives.



To learn more point your browser to – www.house.gov
www.senate.gov
www.whitehouse.gov

Send emails, texts and letters to your Representatives and let your opinion be heard.