Bailing Out Our Broken Economy

[Luke_Wilbur]

Like many Americans I am worried about paying for another person's mistake. I get even more reluctant when I see there is no promise that this is a cure all.

 

The London and American markets are in turmoil. The U.S. controls 50% of the world's stock market. Britain controls 40% of the world's currency. Many foreign investors are fleeing both countries for Singapore and Hong Kong banks.

 

Banks and People are flocking toward U.S. government bonds because they are insured. It looks like the Federal Deposit Insurance Corporation will be increasing government insurance on bank deposits. This will help ease confidence in the credit market.

 

What I think everyone agrees is that we need to have a common goal of a U.S. dollar that would be fair to both the debtor and creditor. It is the road to that goal that everyone has a different opinion.

 

Here are my thoughts.

 

The House Republicans want a temporary suspension of the Capital Gains tax. I think this would be good incentive to companies that invest completely in our economy. That means jobs stay in America.

 

I also think we should take a third of the bailout money to help fund the rebuilding of our deteriorated infrastructure.

 

We all remember the Mississippi River bridge collapsed last year. Thirteen people were killed and 145 were injured. Believe me there are many bridges in disrepair. By my farm in West Virginia I have met families who lost loved ones when the Silver bridge collapsed. All major interstate bridges should be inspected and repaired.

 

We all remember Hurricane Katrina's storm surge caused 53 different levee breaches in greater New Orleans submerging eighty percent of the city. Almost 2000 people lost their lives. This year we got spared a category 4 hurricane, but look what IKE did to our Gulf Coast. We need to look into what Europeans are doing to reduce flood damage to their major cities.

 

We all know the major drought that has been occurring in the South East and South West. Last year the water shortage was so bad crops whithered and state governments had to ration water. We need to construct better water supply lines and distribution centers so this does not happen again.

 

Our main problem is energy. People all over the planet are coming up with fantastic ideas. It is time to start implementing them.

 

My wife's grandfather told me how proud he was when he was a member of the Civilian Conservation Corps. He replanted trees all over Mt. Washington in New Hampshire. He was a member of what people affectionately called the Tree Army. This was time when he was proud to be working for our government.

 

These are just examples of the projects that our government needs to do with the help of private American industry.

 

I also think that transparent market reforms are also necessary. But regulations should be implemented on a global scale. We do not want to scare foreign investors from helping build our American Dream.

Edited October 1, 2008 by Luke_Wilbur