Economic Depression and Recovery Essay - 1021 Words

The President’s plan for economic recovery cannot be based on the stimulus package that he has presented. There are many factors to economic recovery that need to be worked on, and the stimulus package is small compared to what really needs to be done. The whole country needs to have a turn around—financially, responsibly, and economically to be the greatest nation in the world, once more. This is a responsibility of the government, as well as the people to respond with our choices that will help us grow and recover. The foreclosure market is a crisis that is surrounded by other factors to help it re-cover. The economy needs to be turned around by: †¢ Job Growth and Expansion †¢ Stop Over-Taxing †¢ Stop Government Spending †¢ Curb†¦show more content†¦We need to collect the debt owed to us from every country we have helped out, and use that money for infrastructure of this country. If we run this country like a business, and do our accounts receivable department, we could turn this around. Curb The Housing Crisis: The government started the ordeal with Acorn, and agencies as such that gave credit to people who did not deserve it. The only foreseeable way of relieving this crisis is to allow the homeowners to have very low percentage rates until the economy and jobs situation turn around. They need to keep their homes, and need to provide for their families. The banks and lending institutions need to recognize there will be no more customers, if there isn’t any money to distribute. They need to lower the interest rates to be more affordable-a â€Å"tightening of the belt† on all financial agencies to produce more people paying their mortgages, and making the payments on time. The people need stability to make these things happen, and they need the support of the lower costs for their future. There are other ways to curb the mortgage and foreclosure crisis: †¢ Eliminate the IRS †¢ Property Tax Deferment †¢ Eliminate County and State Taxes †¢ Amnesty for Borrowers ïÆ' ° By eliminating the IRS, Americans would not have the unnecessary taxes imposed upon them, and they would have extra cash to afford mortgages, and car payments, and survive. ïÆ' ° Property tax deferment would allowShow MoreRelatedThe Great Depression Of America1727 Words   |  7 PagesThe Great Depression in America is often believed to have ended when the Japanese attacked Pearl Harbour and the US entered WWII in December 1941. However, while an exact end date is a matter of debate, it’s obvious the end of the Great Depression correlates somewhat with the beginning of the war, leading many to believe WWII must have ended the Great Depression and triggered the economic recovery of the United States. 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