sign of relief

In my last blog I stated that the govt was going to extend unemployment insurance. On Sunday Feb 21 the govt did extended benefits for another 13weeks for the people who have not worked in between the period unemployment was not giving. This is good for America because there are still people having problems getting jobs and a lot of people with small business are loosing their business. This is giving American people a sense of relief and a touch of hope that the economy will get back to normal. I love my country, I do not want to see it fall. When I go out shopping I try to get things that are American. The car I have now is American and the next will be the same. When I start my business and if it becomes big I'm keeping it in the us there will be no outsourcing. Will the us go back to being the super economy? I have no idea but we still have the potential to and I hope so. As of right now I love what the new govt is doing and I hope they continue to help with American progress.

Caught Red Handed

WASHINGTON – President Barack Obama plans to announce Monday a former Secret Service agent who helped expose lobbyists' corruption at the Interior Department as his pick to oversee the $787 billion economic stimulus plan.
Obama is set to name Earl Devaney as chairman of the new Recovery Act Transparency and Accountability Board, an administration official said Sunday. Vice President Joe Biden also will be given a role coordinating oversight of stimulus spending.
The official spoke on the condition of anonymity because the White House had not made public the announcement.
Devaney, the inspector general of the Interior Department, helped turn up disgraced lobbyist Jack Abramoff's dealings at the department. The department's No. 2 official, Steven Griles, pleaded guilty to charges he lied during congressional testimony based in part on Devaney's investigation.
Italia Federici, co-founder of the Council of Republicans for Environmental Advocacy, and former Interior Department official Roger Stillwell also pleaded guilty to charges stemming from the Interior investigation. to see more on this artical click here. prvided by yahoo.com.

Obama Tells Mayors to Spend Wisely

President Obama told the nation’s mayors on Friday that he would hold them accountable for how they spend the money in his $787 billion economic stimulus package, which he described as “a true partnership” between the federal government and cities that have been too long neglected by Washington. “I want to be clear about this: We cannot tolerate business as usual -- not in Washington, not in our state capitols, not in America’s cities and towns,” Mr. Obama told a gathering of the United States Conference of Mayors. He said he was putting them “on notice” that if they propose a wasteful project, “I will call them out on it.”

This is the kind of order America needs if we are gonna get out of this depression. The government monitoring the government is the best thing i can think about of. for example police can pretty much do whatever they want, run red lights, wrongful arrest, even get a take on some drug bust. just imagine if citizens could write police tickets for some of the things they do, i bet that cos would change the way they treat people. My point is that i feel with Obama making sure that Mayors don't spend American money on dumb things eg: baseball stadiums or a new park named after them we can get or country back in order.

Worst Is Yet to Come

permanent change. American's standard of living is undergoing a "permanent change" - and not for the better as a result of:
An $8 trillion negative wealth effect from declining home values.
A $10 trillion negative wealth effect from weakened capital markets.
A $14 trillion consumer debt load amid "exploding unemployment", leading to "exploding bankruptcies."
"The average American used to be able to borrow to buy a home, send their kids to a good school [and] buy a car," Davidowitz says. "A lot of that is gone."
I cant say that it is gone I'm gonna say it is being postponed. I feel banks are being more careful about who they are giving there loans to and how much. the reason the banks are having problems is because at one point they would just give a loan to just about anyone. Bankrupts is a way for a company to recheck all its assets and put things in order without paying there bills Intel they get things back in order. at this point i feel our economy is trying to get things in order Intel it is able to go back to full strength. for now the american people should live below their means and when things are back to normal do the things we use to do.

Unemployment Benifits

We all know that the unemployment rate is high and people are trying to find a way to continue with there every day lives. Years ago president Roosevelt introduced the new deal. This program introduced many things, most important it started what we call unemployment insurance. This give people who were fired from a job financial support for a certain period of time. Because if the financial crisis, in the past year people who are on this program were awarded a extension on benefits, That extension has ran out. Most people are wondering what is going to happen now. On the unemployment website they are giving a notice that on Feb 22 there extending the benefits for another 13 weeks to help American people. Finlay another sign of relief I'm sure we can all use it. its good to know that our govt is trying to help in ways of putting our country back in shape.

unemployment and the stimulis plan

Unemployment rate is at a all time low and jobs are becoming none existent millions are loosing their jobs and worried about how they will support their family's. the only person who is willing to help is our new president Obama. in this video he talks about unemployment and the new stimulus plan. below is president Obama plan and how it will help the American people.
February 12, 2009
Our country faces its most serious economic crisis since the Great Depression.
Beginning with their inauguration, Barack Obama and Joe Biden have already put together a plan to revitalize the economy, Immediate action to create good jobs in America. Immediate relief for struggling families. Direct, immediate assistance for homeowners and business owners.
Rapid, aggressive response to our financial crisis, using tools such as Government Grants.
Tax cuts are one means of providing economic relief to those in need and will be part of the recovery plan for America. However, Government Grants will also play a vital role as a means to swiftly provide assistance to those who could use financial assistance. Unlike a loan, these Government Grants provide funds which do not need to be repaid, and can be used for virtually any purpose including, pay off many forms of debt. provide mortgage assistance or prevent foreclosure. purchase a new home or refinance your home mortgage, start a new business or assist with an existing business pay off student loans or assist new students with obtaining a degree. How do you feel about Obamas plan?

Unemployment today

Over the years it seems that the stock market crash as if it has its own anniversary. Millions of people loose their jobs and their homes. What i will mostly talk about is how the U.S. Govt will help our American citizens survive this crisis and the cause of this event. On CNNMoney.com they say the reason for this money problem is Housing dpt in the stock market. I don't believe that is the sole problem. I also believe that outsourcing plays a very big part in this problem. For some that don't know what that is, I will give you a example. Say i owned a company in NY, lets call it company X, and i was paying one employee $100,000 a yr to answer a phone. As a owner i think that's a little to much. what i would do is move my business to another country, lets say India, fire my employees and pay some one from the other country $30,000 a yr instead of $100,000. What i was paying for one person in NY i can get three people in India. There is more to it but that is just a example.
Most of the American people know that America does not really make products anymore. most things are made overseas including most of the cars that we drive in the U.S. I also understand why we should not print more money. From my understanding by printing more money we just flood the market and it makes the value of the dolor less. At the end of the day i think that there is more to this story then the Govt is telling us. In this link Bush talks about unemployment.

U.S. History of unemployment

unemployment line.


People say that history repeats itself, in this case it does. Unemployment has been higher now in 2009 than it was in 1930's and 1940's.
October 24, 1929, Black Thursday, the day the stock market crashed. This was indeed a traumatic day for those who owned stock as sales volume broke all records. But the decline in overall stock prices was only about 2.5%, from 261.97 to 255.39 as measured by the New York Times index of 50 stocks. Most of the decline still laid in the future; the market hit bottom on July 7 of 1932. By 1932 the unemployment rate had soared past 20 percent. Thousands of banks and businesses had failed. Millions were homeless. Men (and women) returned home from fruitless job hunts to find their dwellings padlocked and their possessions and families turned into the street. Many drifted from town to town looking for non-existent jobs. Many more lived at the edges of cities in makeshift shantytowns their residents derisively called Hoovervilles. People foraged in dumps and garbage cans for food.

Roosevelt faced a banking crisis and unemployment that had reached 24.9 percent. Thirteen to 15 million workers had no jobs. Banks regained their equilibrium after Roosevelt persuaded Congress to declare a nationwide bank holiday. He offered and Congress passed a series of emergency measures that came to characterize his promise of a “new deal for the American people.” The legislative tally of the new administration’s first hundred days reformed banking and the stock market; insured private bank deposits; protected home mortgages; sought to stabilize industrial and agricultural production; created a program to build large public works and another to build hydroelectric dams to bring power to the rural South; brought federal relief to millions.