Itâ€™s pretty clear now that the economy is going to be a critical factor in the Presidential Election. As painful as it sounds, we will have to spend more before we can recover. I do not see any feasible way we can recover at the rate we are going (barring some freak incident). This not only applies to the government, but to everyone in America. Every individual person affects the economy. The more we are able to spend, the greater overall cash flow increases, which is what sustains any economy (whether local or national).
By this reasoning, I agree with Obama on making bankruptcy laws more lenient. Bankruptcy is supposed to help a party recover when they are too deep in debt to do anything. Iâ€™m not saying they shouldnâ€™t be punished for doing something wrong; let the credit bureaus decide if those who go bankrupt should be allowed to take out more loans. Iâ€™m saying we should get them back up to a reasonable place financially as soon as possible. Let their assets flow through America. Freezing their assets will not do us any good. Once they start spending again, at least theyâ€™ll be generating local cash flow.
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