In the last two web logs many students have written about greed, in class Yanek asked, "How much is enough?" This week we are going to take a jump from American History back into current events, you may find a connection.
In class you have been given two readings about Obama's proposals, which proposals do you think are most important and why. Do you have any other proposals for easing the economic crisis?
Your task for this web log is to draft a letter to the president-elect on the proposal that you favor (either Obama's, your own, or another student's).
After next week's revisions you are invited to prepare a final copy for mailing to president-elect Obama.
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Dear President-Elect
The United States is facing economic disaster on a scale few nations have ever experienced. Most people are unaware of the easily observable signs of this emerging crisis. Americans have been so busy worrying rying about all their problems that very few noticed that the U.S. is going bankrupt.We no longer produce what we need to sustain ourselves, we import much more than we produce, and we are selling off our assets and taking on massive debts to sustain a standard of living we can no longer afford. We are failing even to acknowledge predatory foreign trade practices undermining US industry. Instead we encourage US manufacturers to design, engineer, and produce in third world markets.
Many companies that have offered defined-benefit pension plans have failed to adequately fund those plans, using the money that should have been invested for other business purposes instead. The scope of the problem is considerable, especially since the burden falls on the quasi-governmental Pension Benefit Guaranty Corporation. Literally thousands of plans are under funded. The federal Pension Benefit Guaranty Corporation is already $23 billion in the hole; bailout plans if nothing else changes could top $30 billion, or top $100 billion if, for example, several major airlines fail The situation is looking increasingly like it will become a candidate for a Federal bailout. A Federal bailout may be the only viable option at this stage, but unless it comes with a permanent structural change to the administration and guarantee of existing and future programs, a bailout would only invite future defaults. Clearly the premium contributions by participating pension plans have been inadequate to properly fund the guarantee, and the accounting/auditing oversight of existing programs has been insufficient. When business managers can burn through half a billion dollars in company assets that had been contractually promised to pensioners, some laws of transparency are being violated.
Florida, California, and Texas are growing more than any other states. California is well-known for its earthquake susceptibility, and Florida is in a category unto itself for hurricane damage. The government expects 75% of the entire country to live in coastal counties in 20 years. While coastal regions are aesthetically pleasing, they are especially at risk for major property damage due to storms and flooding. Property damage from hurricanes alone in 2004 totaled more than $22 billion. Damage projections for a major hurricane or earthquake in New York City (and one or the other is bound to happen) could be from $20 to $45 billion in a single event, just in that city. The rush to the coasts is already on, and as the nation's median age continues to rise, a larger share of the population is likely to move to warm, sunny locations. The more those populations increase, the higher land and property prices will rise, compounding the damage likely from natural disasters. The Federal government can reduce the distortions it causes to the natural market by offering fewer subsidies for construction and insurance in disaster-prone regions. As people learn to bear more of their own costs for these hazards, they are less likely to move there without the necessary understanding of and preparation for the risks involved. Government can also offer less implicit and explicit support for further population concentration (road funding, for instance). Simultaneously, regions outside these high-risk zones need to take it upon themselves to promote the advantages they have in the absence of these risks. Places like Minnesota and Wisconsin may not have as much sunshine as Florida, but they also don't sit in the crosshairs of Category 4 hurricanes.
Increasing use of computers and electronic technology exacerbate the impact of increasing prosperity (which tends to increase energy use), while efficiency takes a back-seat to luxury uses of energy. Current energy spending is estimated at around $755 billion a year, but that figure is expected to grow 1.6% a year above inflation for the next twenty years. Energy supplies are never going to run out completely -- even nonrenewable resources like oil don't simply "run out," they just become marginally more expensive over time, until they become uneconomical for most uses. However, as energy inputs become more expensive, they can displace spending and investment on other, more productive activities. Despite lots of talk about energy bills in Congress and plans for more Federal funding for research and development of new energy supplies, the prospects for a real legislative solution are bleak, since the very same promises have been made since the 1970s. If total domestic energy spending is $755 billion a year and rising at more than 1% a year, then the annual increase in real spending on energy is about $12 billion a year. The budget for the Department of Energy is $23.4 billion a year. Surely an inducement prize could be offered for less than either figure that would be vastly more effective and efficient at improving the nation's energy use than what's been done for the last 30 years with no meritable outcome. Surely someone could be induced to find a true "killer application" for energy use or conservation for a prize of less than $12 billion. In fact, it's an absolute certainty that if the government were to completely cease funding the Department of Energy and instead offer twelve $1 billion prizes for such outcomes as a highly efficient mass-production solar cell, a substitute for conventional petroleum, and an electric motor design that reduced consumption by 5% over conventional designs, that we could swiftly solve the "energy problem" at a discount to what we presently spend -- without increasing regulations or government spending. If we solve those problems we will be out of bankrupt.
Dear President-Elect Barack Obama,
First of all, I want to congratulate you on being elected for president. Congratulations.
A president has many reposinblities that, now you have to show, you have. As president you should know that,the taxes are effecting many Americans and their lives. This happens becuase, of loans and Bankruptcy and Tax Debts.
However I have read some of your very interesting propsals, and I think that,your proposal to allow Americans to borrow from their retirement savings without a tax penalty is the best.
All of us pay something toward our retirement fund. Unfortunately, many people are being forced to use this fund, which is their money anyhow, prematurely, to get through this difficult period. As sad as it is for people to be forced to use retirement money now, they also are being penalized for using their own money, in the form of a tax penalty. People are afraid to borrow from their own funds, fearing this penalty and loss of additional money. This money is used for, loans they can't pay because, of their low in come. Which is due to low purchases, which are due to tax rates.
This all follows along with my ideas for a great new start:
a. I think that all the Car companies should stop making fuel cars and should start making cars that run on electricity or organic, hybird cars.Because, if the car industries can do so, then we would have less pollution and it would help our environment.
b. Taxes should go down. Especially, provide a tax cut for working families
I hope my Opinions help you make a great start.
Sincerely,
Ramsha Rana
Dear President Elect Barrack Obama
The issue I think you should focus on is Global Warming. I think you should focus on this because it’s an issue that concerns the whole world. Like how Polar Bears are becoming extinct from all the heat. And the heat also melts their homes which leaves them nowhere to live. And Polar Bears need a cold place to live or they will die. So I think that you should make the world only drive fuel efficient cars to save the Polar Bears and every other place that has only snow and ice. I also think that you should make everybody pay the same amount of tax instead of making the upper class man and woman pay more than the middle class man and woman. I don’t think that’s write. I also think that you should only make Hybrid cars that run on electricity and or fuel efficient gases. I also think that u should make abortion illegal in all counties. I hope my advice helps you.
Sincerely Filip Bendersky
Dear President-Obama,
I'm glad you have been elected to be the president. There are many suggestion about this world i want to talk about.
I want you to change the future of this planet how it is like right now. It will be great if there are many jobs around here. Because it will help many other people. Such as they need the money to support thier lives and have the opportunity to have the job.
Also, the taxes. It has been really terrifing for many others.
It also effected many things about this world, it effected the costs with the objects. If this taxes weren't been used, it will saved a lot of money.
One last thing, he should try to termniate all the wars that is happening right now. Right now, you should terminate the Iraq war to minimize the expenses that Bush is taking from the government. There is no benefit to have this war in U.S. Also, it is hurting the econonmy.
Dear President Obama,
You are doing a great job. You are creating new laws to control the economic system.
During World War II we have had alot pf wars and damage. Such as when we went to war with Russia in World War II and when we droped atomic bombs in Japan. We needed to pay for all of it. So what did we do? We payed for all of it by savings bonds. We spend $180 billion dollars so we can help the goverment.
Do you rember in the year 1929 when the stock market crashed? We had rules like having a limit on stocks and keeping track on the people who had stocks. Well we should bringthese rules back.
I hope you take my advice really helpful. Thankyou for you time and concern.
Sicearly,
Allan Randall
Dear, President-Elect Obama
I am very happy that you have been elected president. I think that you have many wonderful ideas for the U.S.A, economy and the world. Here are many of the things that I think you should focus more on.
First of all I think that you should pay attention to global warming. The air is being polluted and the north pole and south pole are melting. I think all cars should be energy efficient, green cars or hybrids. Second of all we should stop all wars. The war in Iraq and others are costing us billions of dollars. Another one of or biggest problems are taxes. I think that giving middle and lower classes taxes is not right. Many of our banks and businesses are going bankrupt. We should lower taxes for the better of the economy. I hope that you will run this state in the best possible way.
Sincerely
Muhammad Furqan
Dear President Barack Obama,
I was happy when I found out you have become our president of United States. Since you have become president I have ideas of making United States a better place.
First you should cut taxes because alot of people are losing there jobs. If more people lose jobs workers wills top working so there will be no pay. If there is no pay there will be no labor or purchases. Also we should stop spending billlions of dollars on the war in Iraq. Imagine what we can do with a billion dollars helping the world become a better place. Pollution is another thing. We should make our world a greener place.
Dear President-elect Obama,
I am in favor of your Economic
Stimulus Plan to boost the economy.
I especially like the fact that you will double the 50 billion in loan guarantees given to automakers,to keep workers of General Motors and Chrysler from losing their jobs. I also believe that people who are out of work to begin with, should not have to pay income tax for unemployment benefits.
In addition, I feel that your two most important proposals are to give a $3,000.00 tax credit for employers for each new person they hire because it will encourage employers to hire more people instead of cutting back, and to allow Americans to borrow from their own retirement plans without a tax penalty in order for them to get back on their feet.
I also agree with the fact that each and every one of us needs to work together in order for our nation to succeed. Good luck with your new plan to stimulate our economy.
Sincerely,
Nick Maddaloni
Dear President-Elect Barack Obama,
I believe that we should pull out 2/3 of the troops from Iraq because it will save the US Government billions of dollars. This money is vital toward use in implementing your ideas toward rescuing the nation from financial collapse. The country is in a dire economic crisis right now and we can not afford to have troops in Iraq. We spend 10 billion dollars a month in Iraq with no true objective. By pulling our troops from Iraq we will not have to borrow money from other countries like China and Japan. This will help our economy by reducing the amount of loans that we will have to ultimately pay-off. We can direct the money being wasted in Iraq toward creating new ‘green’ jobs, fixing our broken healthcare system, investing in alternative fuels, fixing our nations infrastructure and re-establishing our standing in the world as a nation of promise and possibility. When we take the troops out of Iraq, the remaining troops still there will ensure the safety of the Iraqi people by supervising Iraqi soldiers in their training as peace keepers. We will save money while keeping stability in the country
Dear elect president barrack Obama,
I feel that you should use the money the economy has and use it for more important reasons. Like all the money that is going to the war in Iraq should have never even begun. So you could use that money on things like green cars and many other green things to help the planet. So we can stop wars and help heal the planet. This is because if we don’t stop the wars we will shorten our population by a lot. So by stop many wars we will save and heal the planet.
Dear president elect Brack Obama,
Congradulations on being elected for president, now that you are president you have alot of responsibilities and concerns, not to be someone who just fills you with issues and complaints but i just want to bring a issue that i think is very important.
The taxes are rising and i think that it is causing a disaster for many people. I know that the taxes are money for paying our workers but if it continues to be so high than more and more people are going to be affected by this.
Some people are losing their houses and possibly jobs because of this. I am not telling you what to do but please Presdident Obama when i speak i dont just speak for me i speak for others also.
I trust you as a president to make the right desicion for our country.
Sincerly
Shamala Nelson
Dear, President-Elect Barack Obama
I was very happy the day you were elected for president. The USA is having a bad time on the economy. I think you have great Ideas on the economy, and USA. The US is going bankrupted. I think I could give You some suggestions and things you should pay more attention on.
The first thing is about the fueled cars. I think the US should make Hybrid cars or cars that run on electricity. The fuel cars are damaging the earth. The cars are causing Global Warming. Global Warming is another proposal.
The second Thing is about the environment. I think we should think more about the environment.I think we should recycle and plant more trees and plants and other more things that help the earth and the environment. I think we should plant more trees in the US so the earth could be safer and greener.
The third proposalI want to talk about is war. And especally the one in Iraq. I think we should be come friends with Iraq and other rival countries. I think you should drive the troops out of Iraq and back to thier families. We waste billions of dallors a year because of the war in Iraq.
I think I gave you good Ideas and proposals. I think you will be a great president.
Sincerely,
Hassnan Safdar
Dear President Obama, I am glad that you are the president of U.S. Now we live in history.But thats the bright side. People are suffering and you need to change that, i know you can.
I will give you some suggestions.
People are suffering from taxes.
If people dont get money they will quit. No workers and purchases then businesses will go down,lower the TAXES PLEASE!!!!!!Then there is global worming. You know that if ice melts animals like polar bears are going to die , the sea level is going to increase and we will be flooded. I dont wanna die so better think about that.Pollution, make the world a better place 1 bit at a time work on that. 3rd important, U.S soldiers are being send to Iraq
kids loose theyre fathers. Get the troops back from Iraq and dont spend money on war in Iraq, AT LEAST GIVE IT TO ME and I WOULDNT MIND around 30,000,000,000,000 dollars.$$$$$
Dear president-elect barack obama,
the united states is needing for money.we need to work together so the economy would stand and be strong.people aren't aware how close we are to economic destruction.we are going to be one of the poorest country soon.
I have read about your proposal and i don't think that people shouldn't be able to take out of their retirement savings .the reason i say this is because what happens if they take all of their money out of their retirement savings, then they wont be able to have anything to fall back on and they would have to work.
I think you should work on cars.i think you should make fewer cars that take gas and make more cars that run on organic things.
Dear President- Elect Barack Obama,
You don’t know how happy I am to be writing this letter to you. You are such an inspiration. I mean you are the first African American president. I feel like I am part of history. You see sir, now that you are president there are many, many responsibilities and many rules you need to follow. Also there are many crisis going on that you may want to consider in helping in. For example, taxes. Since the budget cut, millions of people a day have been losing their jobs, meaning their families were going to suffer. These people lost jobs they may have worked for 10 years or more and RELIED on them. If you lose the source you rely on, many bad things may start happening. For example, your rent bills come. You used to always save money so that you had extra in this kind of situation. But that money went towards school, clothes, etc. And on top of all that you have to pay taxes? COME ON!
Another crisis you may want to consider is Global Warming and making of fuel cars. This is an issue that is affecting not only the U.S. but the whole world. Pollution has cause extinction to many animals and death to others. We should only make green cars. YES it will cost more, but it WILL SAVE our lives. This brings up another point. When we use the non- green cars, we just sent fuels upwords towards the sky/ space. When this happens it stays inside the earth and never comes out. When it stays inside the earth, we breath it. When we breath it, it kills us slowly. Global warming may get way more dangerous if it continues. Sea level may rise and then flood all the states on the border. This counts where I live New York.
Thank you for your time sir and I hope these ideas will help you think a little deeper and harder into situations that may just look hard but guess what? You have us your fellow Americans to help you anytime.
Sincerely,
Ilona Portnoy
Dear President-Elect Barak Obama
The first thing that Obama will have to do is to find out what the problems are. After he finds out what the problems are he has to hire the right people who know things about economies. Together, they will form a strategy hoping it will be for the best intrest of our country and economy. When the economy of the United States is running well, the economies of other countries benefit. In conclusion, I dont know what his plan will be, but it starts and finishes with the people he surrounds himself with.
Sincerely yours,
Lejla Neziri
Dear President Elect Obama:
I am very happy you won this election and I am proud of what you stand for which is for the people of the United States of America. I know the road ahead will not be easy and the troubles will be overwhelming especially our economy. Although you are not in office yet and you keep repeating one President at a time the economy is eager for you to put thing into prospective. Our Financial Market is being crippled by this recession which seems to be never ending. Some days the stocks are peeking and other days dropping we know the stock market is a risky business but we need show some financial stability fast which will allow investors to get back in the game thus strengthening the US. Economy so that we can move forward. Your proposed on unemployment is very important especially at this time when most American are unemployed and are being forced to use their retirement funds to pay there bills. Therefore, by you granting them the opportunity to borrow from their retirement saving plan with out tax penalties would be good. Another one of your proposal was asking congress to invest $150 Billion for unemployment for new inventions will definitely allow the economy and create more jobs.
Finally, the financial industry, health care, education, auto industry situation is steering us in the face and Americans are scared. President Elect Obama we know you will bring new spirit to this global economy and if Congress does work on these important issues now we know you will as soon as you gets into his office.
Dear Mr.president,
I'm so glad to have you make history as our first black president. I know you will do a good job in helping us in all or most of our problems.
For example the economy problem. Remember in 1991 when the last recession was over (we thought). Well guess who's back, and now more people every week lose their jobs. Even the best workers lose their jobs. Maybe you can't stop this ,but as long as you try you can let billions of people keep their jobs.
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