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Friday, July 24, 2009

'The Depression' of the 21st Century?

Is this it? I think it is comparable, or getting to that point at any rate. This post was inevitable. The current state of our economy is affecting all of us.

During President Obama's speech, the small portion I did listen to a few nights ago, he made a point of saying that things are getting better, leveling off in regards to the economy. Personally, I don't see it. Maybe it was meant as a comforting statement for those out there feeling hopeless right now.

In the last month alone not only has our workload shrunk, but we have been forced to lay off a few employees (and likely more soon), stop contributing to 401K's, cut some employees pay, and their hours as well. We are making our bills, thanks to lines of credit...but we aren't getting any money in. Once that contract is signed, we have to honor it. The most we can do at this point is put liens on properties, and we won't get paid until that property owner tries to sell. That's nice...but it doesn't help us right now. So see, the state of the economy is catching up with all of us, we're just lucky that we were unaffected this long. Moreover, I'm lucky in that I live at home and don't have a mortgage to pay, so that I can pay the bills that I do have.

A few days a man called (one of many) in search of a job. He spent a few moments talking to me about our trade, and how he has been in it for 40+ years and has never seen it this slow. The poor man sounded so dejected. You could practically hear the worry and defeat in his voice. =/ And it's not just the fire sprinkler trade or construction. So many of my friends are out of work right now, and relentlessly going through the interview process over and over again. Either businesses are not hiring, or are sending people away for being overqualified. This is happening all over the country.

So I went to BarackObama.com to see what he had to say on the economy, which was this (my commentary italicized):

"Get the economy back on track:
President Obama signed legislation to jumpstart our economy, the American Recovery and Reinvestment Act, less than a month after his inauguration. The plan will save or create 3.5 million new jobs, make critical investments in our infrastructure and give 95 percent of working Americans a tax cut."

That's great news. But nowhere does it say how this Act works. Sure cutting our taxes is a great relief for us as citizens. But really what does it do about the 1.3 TRILLION debt deficit that our country is in? At the way things are currently going, people are not going to run out and spend all of their tax savings. They are going to invest it, or bank it. And how exactly it this Act going to save and more so create new jobs???

"Rebuild our economy on a new, sustainable foundation:
By making bold and wise investments in healthcare, energy and education, and restoring fiscal accountability to government spending, we will cut costs for American families and businesses, create good jobs that can’t be shipped overseas, give our children the education they need to be competitive in the global marketplace and leave our grandchildren a legacy they can be proud to inherit."

This also sounds great in retrospect. But what does it really mean? Come on Obama, dumb it up a little for the general public. We are not so naive as to think an entire country's problems can be repaired in a few months. But in order for us to believe in you and have hope, we need to know how your plan works. I'm not Miss Cleo up in this bitch. Giving children a competitive edge with a better education is great. But we need jobs in order for them to put that to use. And everything that has been proposed is just going to cost the government more money and put this country deeper in debt. How do we even begin to climb out of that?

See, I am not bashing on Obama, I just am curious how he is going to pull this off. Again, in retrospect it sounds wonderful. But as an American, this is one of those things that is in the back of my mind. Then again, our grandparents and great grandparents made it through 'The Depression,' they held on and pulled through. So we can too. It's just a matter of how much are Americans going to lose before seeing the light at the end of the tunnel?

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