Did some people actually vote for Obama because they thought he was going to give them money? If this is true, what are these people going to do when they find out they will not be getting anything? The truth is that Barack Obama doesn’t have any money to give out and as a nation we are pretty much bankrupt.
Our country is in a really bad spot financially and people are just not informed about the situation. They have mo idea how the economy works and unfortunately they think the government is magic and has unlimited funds to give them money. This might be why so many people voted for President Obama thinking they were going to be getting some money out of it. What is going to happen to his popularity when things continue to go downhill and perhaps even get worse faster?
The US government has no money to give and a lot of businesses are going bankrupt. The government can just print more money (and they often do) but that devalues all the existing dollars and hurts everyone in the end. That has never stopped them from doing it but someday it will catch up to us and we will have very high inflation.
Obama is also tackling student loans and hoping to take private industry out of the equation. The argument is that private industry is trying to make a profit on our children’s education when in fact perhaps that is wrong. There is much disagreement about this but one thing is for sure: colleges cost too much and our kids start off in life with a huge college loan they have to dig out from under. Obama may be doing many things wrong but in this one area of student loans he may have the right idea.
All the spending the US government is doing may or may not end up working to keep our country out of more financial trouble. It may work but no one knows whether it will because we have never faced a situation like this before. It may also put our country in a deeper hole than ever before too.
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Tags: interest rates, Loan, Loans, opinion, Politics