Dear President Obama,
During this troubling time of economic crisis we need to find solutions to these problems facing the country. This has been the greatest economic recession that the country has been in since the Great Depression in the 1930’s. Some of the more specific issues facing the troubled economy are the rising unemployment rates and the national debts. These are issues that can be fixed but only with the right solution and time.
In the last four years the United States Debt has risen substantially. Credit is one of the many reasons that have caused the increasing debt. According to Charles Moffat “the housing crisis and too much credit has created a credit crisis that undermines the actual value of American currency.”(Moffat 2008). A cause for this credit problem according to Moffat is that the “Americans have too many mortgages, too many credit cards”(Moffat 2008). This debt is made up umm of individual corporations and foreign governments. Right now the U.S debt is the highest in the world reaching over 10 trillion dollars. This is largely due to the accumulations of budget deficits because the government cut taxes and increases spending (Amadeo 2009).
Another part of this troubling economy is the rising unemployment. Over the last two years according to Roberts “Construction lost 520,000 jobs, Manufacturing lost 806,000 jobs and trade, transportation and utilities lost 145, 000 jobs” (Roberts 2009). With people losing jobs at this rate it is hard for our country to get out of debt. This is causing many people to become desperate by stealing and relying on the wrong ways to survive. When Americans take actions such as these, not only are they relying on bad ways but they are also taking money away from the country. With people out of work it prohibits our country to make money to pay off the national debt that we have accumulated.
Along with the many ways the U.S. got into debt there are many solutions to reducing and get out of debt. According to some readings I have been reading about the economy we have been borrowing and spending money we cannot repay or afford. Also we should invest in things that we help our country like renewable sources and different types of energy. According to Moffat college tuition being reduced will also help the economy out a lot to. Along with reducing the tuition he said training and hiring more professors will help control that (Moffat 2008).
As a college student I find it very hard to focus in college knowing that I have a lot of loans to pay off and until they are paid off I will forever be in debt. I know that going into the race you were prepared for being president even without knowing you were going to win. I have put my faith and confidence in you to help me and this country turn around. I look forward to you addressing the problems I have brought to your attention and the many ones I did not.
Sincerely,
Quinton Coples
Monday, March 16, 2009
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