Thursday, November 20, 2008

New life?

Although our markets continue to weaken and jobs in our economy are hard to find we have hope with a new president stepping into office in January. Barack Obama promises to help our country get out of this mess we are in, he wants to steadily bring back troops from over seas and he plans to share the wealth in the country to the needy. Although realistically we cannot expect big changes to occur over night he promises to act quickly. Last week claims for unemployment benefits jumped to a 16 year high proving that our labor market is weak and weakening rapidly. I believe that in order to begin changing our economy the labor market must begin to flourish and begin putting money in people's pockets. If we do not have money to spend then our economy is not moving and the money flow is standing still. The people need money to buy things to get businesses going the businesses need banks to borrow money for their business, everything revolves around the cash flow in the economy.

This process of digging our economy out of a hole begins with Obama's tax cut efforts for working families and continues with tax relief for small businesses as well. With these to couole of things we can begin to believe and have cconfidence that we are going to be ok. The creation of new jobs will have to begin taking place for us to be able to move forward. My co-workers and I are always taking about how our money is not buying as much stuff as it used to so we believe that is why people cannot go out and purchase goods and services becasue the money is not out there to spend. Top automobile industries are struggling to sell cars, homes are not being sold, loans are not being issued with the same frequency. I think American just want a change from what we have had going on the past couple of years and we are all looking at Obama to be the savior.

Hopefully our economy can get back to the days when Clinton was in office, when people were buying and selling comfortably. Even though things change like the war for example people want that type of feeling where they can buy services and products with confidence not having to worry about high taxes and high gas prices. The money that has been spent in war overseas can start being invested and put elsewhere, where people are getting more out of it. Obama's efforts to get the U.S out of Iraq can solve some of these problems but it will not be easy for the man. There are always going to be critics that do not like what someone is doing but I have confidence that Obama will turn our economy around in a couple of years.