Assignment+7

The United States of America has been in many economic crises but this seems to be one of the biggest and most influential one. While George Bush was president, we criticized his every move. Most of us just wanted to leave the war and wanted all of our troopers back home. Many of us questioned why we were in war to begin with. A couple of years ago while Bush gave one of his speeches, he mentioned that the war was now over. Then why are we still there? Slowly but surely we started going in an economic crisis. Years have passed by and we are still in Iraq, bombing the homes of innocent people and being there without a purpose. The whole point of being there was because Bush thought that Iraq had weapons of mass destruction. Then it became something else, Oil.  __Even with people losing their jobs, education costs going up, and people losing their homes, we seem to still be in war wasting money on military use.__
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__**Paragraph one:**__ Because we are losing so much money at war and borrowing so much from other countries, prices for everything are skyrocketing. __Quote:__ " There may be political issues, but underlying all that is...a social crisis, which began with the food prices, the fuel prices. Now they face financial crisis" says, Donald Kaberuka Head of the African Development Bank.

Energy sources seem to be one of the biggest issues in the United States. And Americas search for new energy sources can definitely impact America a whole lot because we only really produce half the oil that we really use which is why we need to borrow from places like the Middle East. If we start trying to find new energy sources then it can make our economy worse because we would be losing a whole bunch of money on trying to find the right source. We can also benefit from this in the long run because eventually we have to become independent and have to start producing our own things. __ Quote 1 ____ : __ “Looking forward, with the price of petroleum skyrocketing, it is likely that we will see a further deterioration in our trade situation and that will not help us as we try to get out of this recession,” Naroff Economic Advisors said in a research note. __Quote 2:__ "Poor decisions made in haste can turn a crisis into a far-reaching disaster," Obama said.
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How is our generation going to pay for all of this? All of the money that we owe to other countries is going to eventually have to be paid. Citizens now pay an awful amount of taxes and get taxes taken out annually. Even people who have a low income also get taxes taken out which makes it sad. In a few years when my generation gets out of college and gets a job is when new excuses for taxes are probably going to start going up and we are going to have to pay for the Government’s mistakes. QUOTE: “Economists observe the promise to pay pension and medical benefits to current and future elderly as part of the government's "implicit" legal responsibility. But these liabilities are no less real than the obligation to pay back the principal plus the interest on government bonds. Politically speaking, it may be easier to default on explicit debt than to stop paying Social Security and Medicare benefits. While no one can say for sure which liability the government would renege on first, one thing is clear: the implicit liabilities dwarf the explicit ones. Indeed, their size is so large as to render the U.S. government effectively bankrupt.” (Found in an Article written by [|Niall Ferguson], “Going critical: American power and the consequences of fiscal overstretch”)
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In conclusion, The United States needs to find different ways of helping people instead of taking their money and using it for insignificant things like war. We need to go back to how we use to be. We need to start opening up more job opportunities, lowering tuition costs for colleges to actually make them affordable, and we need to also help people in need of medical insurance. QUOTE: "There may be political issues, but underlying all that is...a social crisis, which began with the food prices, the fuel prices. Now they face financial crisis" says, Donald Kaberuka Head of the African Development Bank. QUOTE 2: When discussing the bail-out plan Obama says, "But given the situation we're facing, not passing a bill now will cost these Americans much more later", Calling for a bipartisan commission to oversee the plan.
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