Thursday, May 7, 2009

President Barack Obama describes the current economy as frozen. He expresses that credit is not flowing as easily as it should. He addresses the issue of the rich getting richer and poorer getting poorer in this quote "an economy where the incomes of the top 1% have skyrocketed while the typical working household has seen their income decline by nearly $2,000." He proposes a the solution to stimulate the job market is to create energy efficient homes that will be built by Americans. As soon as these workers earn enough money, they can take advantage of the historically low mortgage rates. I like Obama's plan because its designed to help the economy, the middle class, and the environment. He also reiterates what the Reich's argument that our educational system does not prepare young Americans for the modern economy, just as the routine workers are not prepared to work as anything but, and wind up competing with the in person service workers. Obama also describes that we are sending too many of our experts overseas to work instead of working here and stimulating our economy, just as Reich gives all those examples of the third boat workers. Obama also addresses globalization stating that securities that were traded over seas were weak, and made those countries buy less American goods, furthering the recession in the States.

2 comments:

  1. Which site of Obama's did you use? He has several. The quote you used was extremely relevant I couldn't find any that good from Ron Paul.

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  2. I hope that Obama will start eliminating outsourcing and start increasing American jobs. We could really use some of that these days.

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