Usa Economy

Usa Economy

  • Submitted By: myessays
  • Date Submitted: 11/23/2008 11:51 AM
  • Category: Business
  • Words: 1264
  • Page: 6
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Date: 10/14/08 Name: Isha Gupta Type: Revision PRESIDENTIAL CANDIDATES’ POSITIONS ON ECONOMY “Economy”: the term alone represents the financial well being of 300 million people better known as the United States of America. This financial status has been a victim of recession since March, which is troublesome. The economic downfall was declared by”National Bureau of Economic Research,” and there is suspicion as well as sanguinity regarding this national issue. Economic mismanagement at various levels is the key problem that brings us today into this state. This issue of financial crisis has been highly significant in our presidential elections. There exists a wide drift in the policies of both the presidential candidates to improve the economy. One believes in bringing an instant relief to the families across the country, without realizing the worse that could happen as a result of this haste, whereas the other focuses on the long term outcome, bringing stability of status and building more strengthened families over the years. Our presidential candidate John McCain believes that the “housing turmoil” (msnbc) has shook the American roots as a result, the nation faces and “economic downturn” (msnbc). He proposes a new “Home Plan” which he claims would provide help to the genuine homeowner who is unable to beat the burden of heavy mortgages. In his “home plan” (McCain-Palin 2008) Senator McCain provides an opportunity to the homeowners to exchange their high mortgage prices with “a manageable loan that reflects their market value”. This plan identifies the current condition of the homeowner and replaces the existing loan with “a new thirty year fixed rate mortgage” better known as “an FHA guaranteed home loan”. The republican candidate also asserts the formation of a “justice department” (McCain-Palin 2008) that would actively indulge in the curbing the off beam mortgage activities. The second most important issue that prevails is that of “job creation”. Senator...

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