by Tanilan Prescott

Created on: January 09, 2009

The economy of this country is on a free fall. Job losses are at a 60-year high. Consumer confidence and the recession are hurting this country tremendously. President Obama's first priority should be to get this runaway train back on the track! Eight years of Bush's Good Ole' Boy policies has hurt Middle Class America and lined the pockets of Wall Street Fat Cats.

Many popular companies, such as Circuit City, Mervyn's, Dillards; have either closed some stores or completely gone belly-up. Their are many businesses who are hurting because people just aren't buying. People aren't buying because they can't afford to. Consumer's are holding on to any little penny they have. Many stores, during the Christmas shopping season, even cut prices as low as 90%; desperate to get people in to buy. Apparently, even the higher end stores are losing many as well. American's just don't have the money they once did.

Washington, in desperation, bailed out the financial sector of the economy in order to help with the bad mortgages and loans that were made by the banking industry. Over $750 billion in bail out money and no accountability. The Big 3 Automakers, begged for help and had to do a song and dance with Congress in order to get any kind of help. Meanwhile, the American Middle Class is hanging on for dear life to a thread that is burning on both ends. Where is the help for them? Big Business is getting all the help, but not the people who they are making money from..the American Consumer.

President Obama has pledged to create jobs! That is a start. When American businesses started outsourcing jobs to other countries, they hurt our economy. They did this to save money on paying American workers a fair wage and to widen their profit margins. We need to heavily penalize those business, who take their operations out of this country; and apply those penalities to helping grow our job sector back on this soil!

We need to bring back our industries such as steel. I remember as a child, seeing the hot burning iron being poured at the steel mill, early in the mornings as I went to school. And now, those mills are vacant lots. Industries like steel have been taken out of the country and given to other nations. Why is that? We must rebuild our industrial sector and stop relying on foreign industries to provide us with the resources we need.

President Obama and a bipartisan Congress will have to take steps in order to save this country from financial doom. They must act now. Our countries future depends on the decisions they make now!

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