Easy loans grease economic engine
Obama talks "bold action and big ideas."
In his speech last night, President Barack Obama reiterated the point that access to easy loans is an important factor in getting our economy back on track.
He also emphasized that “education, health care and energy were a vital part of the long-term sustainability of the economy,” says The New York Times.
Why easy loans are important
When speaking about the banking system, Obama emphasized that he wasn’t out to give handouts to failing organizations.
“It’s not about helping banks, it’s about helping people,” he said.
The banking system must be stabilized, he said, so that credit will start working normally again. If Americans can get easy loans, they’ll be able to buy cars and houses again, and the economy will grow again.
Restoring confidence
Obama’s tone was optimistic and encouraging throughout his speech. He spoke about the United States as a nation that does not quit. He said we must seize “opportunity from ordeal.”
He told stories about a bank executive who split his $60 million retirement bonus with all of his employees. He hailed the man as a great example. He assured listeners that the days of executives padding their paychecks with taxpayer money are over.
Not nonpartisan
News organizations are pointing out many of his ideas go directly against Republican ideals. He is proposing raising taxes on the wealthy, revamping health care and reversing climate change.
Obama says he does not want bigger government, but he is headed toward having a more activist government.
No baby steps
One New York Times writer suggests:
“Another approach might have been simply to preach patience, to seek time for his initiatives to take root.”
However, in Obama’s speech he made it clear that he’s confident that we, as a nation, can turn around the economy while still accomplishing other important goals. He has not abandoned the issues he focused on during his campaign.
Where credit is due
After a little more than a month in office, Obama enjoys a fairy high approval rating. It’s different depending on whose poll you look at, but consensus is that a healthy majority has faith in our new leader.
Obama no doubt will become even more popular if his plan to right the economy works and easy loans start flowing to the public once again.
Apparently, at the time of this speech Mr. Obama hadn’t been made aware that “easy loans” are a major reason why our economy is in such a mess currently. Yes, easy credit helped us increase home ownership…for a little while. It also helped a natural market correction to become a crash and produced the current nightmare with such a serious ripple-effect it will likely take us a very long time to fully recover. The time for quick fixes and easy solutions is now over. It’s time to rebuild our economy with a solid foundation. Back to the basics. We’ve got to become producers again and not just the world’s biggest consumer.
Well, as with any presidential address, there are going to be things that some people just don’t like. I’m not in favor of big government at all – I’d prefer that the private sector was competitive enough instead of gross inflation of costs of goods and services, and especially so on things involving health care. It sounds as if Obama genuinely has the bulk American people in mind – who can fault him for that?