WASHINGTON (AP) – President George W. Bush is expressing remorse that the global financial crisis has cost jobs and damaged retirement accounts. The president told ABC’s “World News” in an interview that he will support additional federal intervention, if necessary, to ease the recession. The interview will air Monday night. Bush told the network: “I’m sorry it’s happening, of course.” The National Bureau of Economic Research reported on Monday that the U.S. economy fell into a recession in December 2007.
Filed under: National News
Instead of giving money to Banks, Wall St Investment Firms, Auto Manufacturers,etc., the money should be given to Senior Citizens who lost 40-50% of their retirement monies. It would be more effective in combatting the cessation of purchasing of goods, and fighting Recession.
Example: A Senior lost 40-50% of his Retirement Savings in the past few months, and has delayed purchasing a new car. If he presents a Purchase Agreement from an Auto Dealer, he would receive a check made payable to the Auto Dealer provided thecar is purchased within 30 days.
All Capital Goods purchased, such as Refrigerators, Stoves, Air Conditioners, Heating Units, Retirement Homes, Nursing Home Admission would be treated similarly.
Consumer spending is the key to overcoming the economic doldrums we are experiencing. As Goods are sold, replacement of stock is needed, and jobs are filled.
Regulations can then be developed to prevent the lax supervision of credit and speculation that caused the Recession.
According to Keynes, the root cause of an economic downturns is an insufficient aggregate demand. When the total demand for goods and services declines, businesses throughout the economy see their sales fall off. Lower sales induce firms to cut back production and to lay off workers. Rising unemployment and declining profits further depress demand, leading to a feedback loop with a very unhappy ending..
90% of the time you can make statistics show whatever you want 50% of time
http://nomedals.blogspot.com
Yeah, President Bush, we’re all sorry about a lot of things that have happened on your watch. You’re clearly no conservative. You’re a “me first” kind of guy.
Furthermore, you make President Ford look great. Atleast he didn’t fumble the ball, so to speak. The country is in a sorry state for what it should be in.
I’m not a big Obama supporter but, the country is clearly heading in the wrong direction under the Bush administration.