As I read the economic recovery and growth plan released by President Obama on May 30, it seems that I can't figure out what the problem is. So, it appears as if they are simply making excuses for not doing their job or to cover up some problems that they have been facing.
It's really hard to understand why such excuses would be necessary, if there was a way of keeping us from achieving our goals. But, it looks like they are trying to avoid the reality of where we are now economically. If there was only one explanation for that, it should be because they don't want the United States government to regulate banks. That would be a sure fire way of getting us back in the hole we came out of.
Instead of fixing the banking system, which has caused this problem in the first place, they are trying to blame the government for this failure. In other words, they want us to believe that it is the government's responsibility to bail them out and make sure that all banks pay their debts on time.
The economic recovery plan that President Obama put out seems like it could work very well. If the Federal Reserve and other financial institutions were to take control over the banking industry, then they would certainly be able to get this country back on track. But, what they won't do is give away any money that they are giving to the banks, without them first repaying the money back with interest.
That's what the economic recovery plan is about, isn't it? This is not an opportunity to help our economy out, but rather an opportunity for the bankers to make more money on their investments, as the stock market crashes further down. We are being told that if we don't bail out these corporations, they will fail and it will be a disaster for all of us.
But, if you think about it, when the government bail outs failed, it was because the banks were able to survive. They weren't able to pay the money back because they didn't have enough money to keep going, so there was no way to pay off their debts.
So, the banks are making more money than the private sector, so they have to borrow more money from us and they don't have any more money in the bank. This is a very common thing to see in a recession.
And, in the end of the day, that's why the economic recovery plan is so weak. Because there's nothing in it for the American people. Only the banks are benefiting from it.
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