Jumpstarting our Economy
Michelle Malsbury, BSBM, MM
October 16, 2008
Three weeks have passed since Henry Paulson came forward telling congress and American´s that unless he was handed a blank check America´s financial industry was doomed. There was no sign previously that anything had been amiss. President Bush and Senator McCain had continually stated that America´s fundamentals were strong despite the record number of jobs lost, millions of homes in or facing foreclosure, slackening of sales in the automotive industry, soaring national deficit, rising costs for food stuffs and energy, and Wall Street giants swooning. The scant three page plan presented by Paulson was eventually remade into something that congress could live with and passed. President Bush signed it into legislation. Henry Paulson hired a young Wall Streeter to doll out the cash [$700 Billion dollars plus] and America was supposed to be on her road to recovery.
The NYSE and NASDAQ have had some serious ups and downs since this new legislation was enacted. AIG leadership decided that since they benefited from this bailout plan perhaps five top executives should take a week long furlough to the tune of nearly $500,000----paid for by us, the US taxpayers! Not only should the executive´s from AIG be forced to pay that money back, but they should be facing criminal charges too! Don´t American´s deserve better?
Investors are jittery as our stock markets continue to be roller coaster rides. European markets are mirroring some of our markets recent trends inviting analysts to ascertain how far things may fall before we truly see any recovery. Regular American´s have lost confidence in our leadership wondering what in their lives was going to change for the better under this legislation. Let me make a few thoughtful suggestions that were not included in this bill.
America cannot recover until, or unless, we begin to create jobs. Key to job creation is issuing legislation that begins to take into account our symptoms or weaknesses that have been exposed by this economic crisis. For instance, America should work toward energy independence so we are not dependant on the whims of OPEC. Energy independence means we need to work toward using some of the key technologies that have set too long in the shelf, i.e. wind, solar, coal, and natural gas. If businesses were given tax breaks to research, develop, and move us toward energy independence they could create jobs. Drilling is not a sustainable alternative to purchasing foreign oil and would take too long to make financial sense. Emphasis need be on entirely new segments that have not been tapped yet and that have potential to be renewable and sustainable in the long term.
Transportation costs have risen and translated into higher costs at the retail/consumer end. Europe and Asia have progressive rail systems that help to hedge against rising energy costs and are also great ways to connect people to jobs. America needs to increase the number of tracks to locations stretching from east to west and north to south so that there is seamless and better expedited movement of goods and services within our borders. We need engines that are run by renewable energy sources, i.e. battery or solar and are capable of traveling great distances at good speeds before being charged. The railway industry over many decades has been left by the wayside. Making use of the fledgling railway system is a viable point to create a lot of new jobs that will advance the technological base of America for generations to come.
Infrastructure across America is sadly in need of repair and updating. Monies need to be allocated such that all States have well planned and up to date infrastructure. Ensuring that our roadways, ports, and air terminals are safe should be a priority for each and every concerned citizen. Infrastructure is not just our roadways, ports, and air terminals, but also our technological communication bases, schools, and hospitals. America need to work together to foster increased communication between and amongst her citizens at all levels, create a nationwide educational system such that all students in all grades are learning the same things at the same pace and that nobody is failing or falling behind, for students who wish to further their educations we need to have our government fund higher education because those student of today are our leaders of tomorrow, and we need a healthcare system that allows all of America´s people equal access to quality care. Updating and repairing our current infrastructure is another good place to create jobs.
Thus far Senator McCain and Governor Palin have not spoken in depth about how they plan to help America to recover, but merely posed superficial treatment to a malaise of symptoms that bear far deeper scrutiny. We deserve leadership that has the best interests of ALL American´s in mind and not leadership that instigates hateful speech or actions [McCain/Palin rallies where people call for killing, beheading, traitor, and more of Senator Obama] that only serve to divide us from one another instead of unite us behind a common cause. The hateful verbiage that has gone unchallenged by Senator McCain and Sarah Palin does nothing to alleviate the problems ailing America. Can it be that they just do not care about you and me? McCain had a one day conscience where he did tell a woman in his audience that Barack Obama was a fine man when she asked about Senator Obama´s ties to terrorists. That was one day and the very next was a 180 degree turnaround from Senator McCain. [more erratic behavior that seems to be his norm these days] It is obvious to me that McCain has now taken the stand to merely diminish his previous leadership qualities by lowering himself to such slanderous jargon while calling himself the victim after members of congress called him out for these divisive scenes. Senator Obama has taken the high road when members of his audience boo stands that the McCain/Plain camp purport to support. Senator Obama has said "we don´t need that…we just need to vote!". Let me ask you this, which man do you believe acts, and speaks, more for the people across America?
Please vote for Senator Barack Obama and Joe Biden in November! They are the leaders who can and will place the concerns of America ahead of hateful political gamesmanship.
The NYSE and NASDAQ have had some serious ups and downs since this new legislation was enacted. AIG leadership decided that since they benefited from this bailout plan perhaps five top executives should take a week long furlough to the tune of nearly $500,000----paid for by us, the US taxpayers! Not only should the executive´s from AIG be forced to pay that money back, but they should be facing criminal charges too! Don´t American´s deserve better?
Investors are jittery as our stock markets continue to be roller coaster rides. European markets are mirroring some of our markets recent trends inviting analysts to ascertain how far things may fall before we truly see any recovery. Regular American´s have lost confidence in our leadership wondering what in their lives was going to change for the better under this legislation. Let me make a few thoughtful suggestions that were not included in this bill.
America cannot recover until, or unless, we begin to create jobs. Key to job creation is issuing legislation that begins to take into account our symptoms or weaknesses that have been exposed by this economic crisis. For instance, America should work toward energy independence so we are not dependant on the whims of OPEC. Energy independence means we need to work toward using some of the key technologies that have set too long in the shelf, i.e. wind, solar, coal, and natural gas. If businesses were given tax breaks to research, develop, and move us toward energy independence they could create jobs. Drilling is not a sustainable alternative to purchasing foreign oil and would take too long to make financial sense. Emphasis need be on entirely new segments that have not been tapped yet and that have potential to be renewable and sustainable in the long term.
Transportation costs have risen and translated into higher costs at the retail/consumer end. Europe and Asia have progressive rail systems that help to hedge against rising energy costs and are also great ways to connect people to jobs. America needs to increase the number of tracks to locations stretching from east to west and north to south so that there is seamless and better expedited movement of goods and services within our borders. We need engines that are run by renewable energy sources, i.e. battery or solar and are capable of traveling great distances at good speeds before being charged. The railway industry over many decades has been left by the wayside. Making use of the fledgling railway system is a viable point to create a lot of new jobs that will advance the technological base of America for generations to come.
Infrastructure across America is sadly in need of repair and updating. Monies need to be allocated such that all States have well planned and up to date infrastructure. Ensuring that our roadways, ports, and air terminals are safe should be a priority for each and every concerned citizen. Infrastructure is not just our roadways, ports, and air terminals, but also our technological communication bases, schools, and hospitals. America need to work together to foster increased communication between and amongst her citizens at all levels, create a nationwide educational system such that all students in all grades are learning the same things at the same pace and that nobody is failing or falling behind, for students who wish to further their educations we need to have our government fund higher education because those student of today are our leaders of tomorrow, and we need a healthcare system that allows all of America´s people equal access to quality care. Updating and repairing our current infrastructure is another good place to create jobs.
Thus far Senator McCain and Governor Palin have not spoken in depth about how they plan to help America to recover, but merely posed superficial treatment to a malaise of symptoms that bear far deeper scrutiny. We deserve leadership that has the best interests of ALL American´s in mind and not leadership that instigates hateful speech or actions [McCain/Palin rallies where people call for killing, beheading, traitor, and more of Senator Obama] that only serve to divide us from one another instead of unite us behind a common cause. The hateful verbiage that has gone unchallenged by Senator McCain and Sarah Palin does nothing to alleviate the problems ailing America. Can it be that they just do not care about you and me? McCain had a one day conscience where he did tell a woman in his audience that Barack Obama was a fine man when she asked about Senator Obama´s ties to terrorists. That was one day and the very next was a 180 degree turnaround from Senator McCain. [more erratic behavior that seems to be his norm these days] It is obvious to me that McCain has now taken the stand to merely diminish his previous leadership qualities by lowering himself to such slanderous jargon while calling himself the victim after members of congress called him out for these divisive scenes. Senator Obama has taken the high road when members of his audience boo stands that the McCain/Plain camp purport to support. Senator Obama has said "we don´t need that…we just need to vote!". Let me ask you this, which man do you believe acts, and speaks, more for the people across America?
Please vote for Senator Barack Obama and Joe Biden in November! They are the leaders who can and will place the concerns of America ahead of hateful political gamesmanship.
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