Kevin Edmundson Basic Writing 10/6/08 Governments today Mrs. Warwick/12:30 1st draft Speed writing/typing Presidential debates ,Democrats ,Republicans , house of representatives, Congress, president, bush, O Bama, McCain, Sarah, spending, wasted money, tax bills, bankrupt, welfare, SSI, food stamps, poverty, children, news, money, debates, elections, wall street, tax spell out bills, or source of their power, Arnold Schwarzenegger, today’s income, paycheck to paycheck, sex and the White House, four affairs, economy, destruction, war. Our economy today is in virtual despair, with the recent collapse of major banks such as Fannie Mae and Freddie Mac, and Washington Mutual to name a few ,about twenty well known financial institutions going under, this leads us with a sour taste in our mouths. Everybody has opinions today why the banks are closing down; my opinion isthat Americans have abused the system for way too long. In clarifying, Americans use credit cards and credit way too far, living above their means to buy property or personal vanity. We cannot count out that our government’s passed a bill that allowed major financial institutions to extend credit to almost any one who had a job, regardless on the amount or the ability to pay back the loan; this allowed consumers to overextend themselves. Americans today blame government for virtually every thing, and do not blame the economy on themselves, if Americans to date can not afford to buy something, they just charge it, this is what leads to the economy’s breakdown when they lose their jobs and their ability to make their house payments or credit card payments.Our economy is also blamed on President Bush, for taking us to war to protect our nation. In fact, we as Americans always tried to blame the president for decisions that are out of his control and is set forth by Congress.Our nation’s economy is being destroyed from within due to corrupt politicians who seemed to need to put screw the United States...