Cuts Can Help

According to the article “Fed Cuts Rates Boldly; Wall Street Wary” the Federal Reserve has cut its interest rates even more in the hope that this will less the blow of the recession. The reduction was a larger half point decrease and also with that the President included for individuals tax rebates and more tax breaks for business to help fire up the economy.
I think that this is a good idea and I hope that it will work because our economy right now is in bad shape and we need to do something to help push it out of this recession. I hope that the recession does not cause a major down fall in the United States.
In the article Wall Street when these cuts first happened becomes charged but at the end of the day the Dow Jones was still down. The good thing was that commercial banks followed the Federal government and decreased the prime lending rate to 6%; which also was down half a percent.
According to the article before all the cuts and decrease the economy virtual stopped. This is due to the destroyed housing market, bad mortgage investments, and credit problems both for people and business. The nation’s foreclosure rate has hit an all-time high which is causing banks billions of dollars in losses. The next meetings for the Federal Reserve are set for March and likely there will be more cuts.
I think that the Federal government is doing everything that it can to help stop this recession. I hope that this will help get the economy back on track and make it stronger. I the next President of the United States is going to have a lot to deal with in the economy when the takeover.
This information came for the article “Fed Cuts Rates Boldly; Wall Street Wary” by Jeannine Aversa at http://biz.yahoo.com/ap/080130/fed_interest_rates.html?printer=1.

Now a Global Problem

Despite the Federal Reserve drop in interest rates to help growth in the economy, the United States economy is dragging down the rest of the world. Starting with Japan's market which dropped nearly 4 percent on the worries of the United States economy which has already dropped the Japanese in to a recession.
Some of the biggest problems that the United States is facing is in the mortgage sector. There has been many losses on the subprime and equity markets that have hurt the economy greatly. I believe that the main problem face the United States is the amount of home forclousres that are happening now. The numbers have gone up and they are not getting better. This is really putting a drain on the economy in the United States and the rest of the world.
The United States has done things to help like an emergency 75 basis point Federal Cut and a $150 million plan to start growth. They also want to cut interest rates again. I hope that this will help the economy not just for us but for the rest of the world also.
This infomation can from an article "Economy woes batter global equities" by Jeremy Gaunt from http://www.reuter.com/articlePrint?articleId=USL2545612820080128.

Ohio is Spending to Much

In Ohio the budget is predicting to be short some were between $733 million and 1.9 billion for the 2009 fiscal year. This can not be good because there is a limited number of things that you can do to fix this problem. So of them can be to cut money to state agencies like education, which is already not getting as much money as they should be.

The state economists have said that we will be in debt $733 million if the economy grows slowly, we could be $1.3 billion if there is no growth what so ever, and there could be $1.9 billion if the economy goes in to a recession. In Ohio the state's budget is $52.3 billion. To me that is a lot of money but to a state government that may not be a lot but I still think that we should be able to keep the budget balance of at least a lot closer than $733 million to $1.9 billion. Because the people that are working on our states budget should be the best for management money at the state government level.

Basically the whole United States economy has been slow in the recent months and many people are debating whether we are in a recession. The Federal Reserve has had emergency rate cut that were designed to help jump start spending to try to get us out of this recession. I hope that this will help the economy grow and get started again so we do not have to go in to a full recession. So problems we have already is that the Dow Jones Industrial Average that has drop over hundreds of points since trade began this year.

The Gov. Strickland has no I idea what programs he is looking to cut to help the government budget problem that the state is facing now. The only good thing that Ohio has in its budget is what they call a "$1 billion so-called rainy-day fund" which the governor may use. But I hope that he will first look at what he can cut from budget first before he uses the money that they have built up over the years. I hope that the state government can work its way out of this problem that we are in now.

I got this information for the article called "Ohio could face $1.9B deficit" for the Enquirer at http://news.enquirer.com/apps/pbcs.dll/article?AID=/20080123/NEWS01/301230067.

Tax Cuts

As President Bush is getting to the end of his term there is still a lot of goals he has to accomplished. There are many words that our being use to describe our economy and so some are not that good, this last week one of the White House spokesman's use the term "downturn". I think it may be a good word to describe the economy now but it is not a good thing. With the value of American money going down in many overseas economies what are we doing to speed up our economy and make our nations wealth and our nation more economy more stable.
The tax proposal that President Bush has laid out calls for lower income taxes for all, and help for those people who need help. Everyone we pay income taxes with the most amount of breaks for the people in the lower income brackets. This is a good thing because it is allowing those people who need help to get it and also still making the people in the higher income brackets pay money also.
With this tax proposal I am hoping that the economy with get a jump start and start to get wealth back into our economy which we need.
The information I got for this blog came from "Bush tax cut push keeps president on the road" by John King at http://archives.cnn.com/2001/ALLPOLITICS/03/26/bush.travels/ . Also the "The President's Agenda for Tax Relief" on http://fl1.findlaw.com/news.findlaw.com/cnn/docs/gwbush/bushtaxprpsl.pdf .

The Issues 2008- Taxes

With the Presidential Election coming up many candidates have different views on the issues of spending and taxes. Taxes are very important in the United States because that is were the Government gets it money to play back our debts and other bills. The cutting of all taxes is not the answer, even though people would like that to happen.
Here are some stands that the candidates have taken on taxes.
Clinton purposes to raise the income taxes and keep estate taxes on the wealthy and a higher tax break for those going to college.
Edwards purposes to raise the income taxes and there personal gain tax on the wealthy. He also wants to give a $25 billion a year tax cut to the non-wealthy.
Obama purposes to raise the income, personal gain, and the dividends taxes on the wealthy. He also wants to raise the corporate taxes and will have a $80 billion tax break for mainly the poor and elderly.
Giuliani purposes to cut corporate taxes and to stop estate tax. He also wants to add a permanent child tax credit.
Huckabee purposes to replace income and investment taxes by have the national sales tax be 23%. With some help for the poor.
McCain purposes that the Bush tax cuts should be made permanent.
Romney purposes to stop dividend, capital gain, and interest taxes. Also wants to give tax breaks for those earning less than $200,000.
Thompson purpose to let the people choose.
The information about the candidates came for the Associated Press written by Calvin Woodward called "Presidential Candidates on the Issues".

Government Spending

When reading about the federal government is spending over $8 billion in Homeland Security and not telling the people about how and what the are using the money for is I think a big problem. I am OK will the government not tell us everything that they spend money on for safe and so the terrorist do not know the inter workings of our security systems and other important information that should not be share with other countries and other organizations. There has to be a line very the government need to let the people in on why we have to rise our debt up to like $9 trillion. There need to be a plan for were all this money is going and why we have to keep cutting money from other important areas of our government like education,health care, and transportation. We need to find ways to stop the mass amounts of dependants on other nations to supply us with money and other things.