Economy takes first priority in Politics

As we all have heard, seen and experienced the economy is not what to used to be. Some of the most prestigous of companies have fallen and some even believe that this economic recession could be another depression in the United States. Presidential candidates Senator John McCain and Barrack Obama now have to come together and show their support in a bail out plan for the economy. The $700 billion dollar plan to get the economy back on track has many Americans as well as politicians worried about the outcome not only on the economic front but also on the future of the country.

On Wednesday, Senator Obama spoke about the bailout plan and the concerns of many Americans across the country, "I know many Americans share those concerns, but it is clear that this is what we must do right now to prevent a crisis from turning into a catastrophe." Democrats and Republics have come together under this issue and put differences behind them. Both candidates have issued political commercials that do not disclaim the other but speak on the issues that are arising with the economy and the ways that they plan to deal with the problems that will arise in the future.

When Senator Obama spoke about the plan he rarely spoke about Wall Street, instead saying that the plan was a necessary step to help the American economy from crumbling. The last bill that was issued on Monday did not pass mainly because many Americans were nervous about the plan and also about the money that they could lose. Senator Obama addressed these concerns of the people, he said, "If this is managed correctly, we will hopefully get most or all of our money back- we might even turn a profit on the government's investment-every penny of which will go directly back to you, the investor." The words of Senator Obama might not have persuaded all of the skeptics to vote for the bill but his words showed sincere concern that in my eyes made the American people more inclined to trust the bill.

But the crisis is still very real, especially for small business owners. Chad Moutray chief economist of the Small Business Administration said, "small businesses are sitting in their hands, either they can't get the capital or they don't want the capital. They read what is happening, and frankly they are scared." In America, small businesses in America account for half of the nation's output, with these companies too scared to invest or even have large companies not willing to give them loans is going to cause major problems throughout the countries business frontier.

The nation is scared of what is coming. There is no easy way out of this crisis or the government would have already taken it. The people have read and have seen through the stock market what kind of condition the country is in, small and large businesses alike are nervous to spend more money than they have to in fear that they might not get their money back. People across the country have to be secure in their investments as well as in the economy before they start to invest more into, the bailout plan might not be the best solution and may have some holes in but as Senator Obama said, this is a plan to "safeguard the American economy."

http://thecaucus.blogs.nytimes.com/2008/10/01/obama-sells-bailout-plan-to-skeptics/?hp
http://www.nytimes.com/2008/10/02/business/smallbusiness/02sbiz.html?_r=1&hp&oref=login
http://www.nytimes.com/2008/10/02/business/02markets.html?ref=business