That sounds good to me. I think they should divide all this bail out money to us. I don't know what if figures out to be per person/family, but we could spend it, and that's putting money back into the economy. Why keep giving it to the people who blew it all before? Now they're coming back for more. Why? Do they need another tropical vacation?
Leslie

I want to know who sat at the table representing Canada when Free Trade was brought in. Lots of stuff coming in from other countries, but we can't sell our products there. Cars case in point. Make it even, that we can sell our cars in Japan and Europe as well as them selling theirs here.

I also want the government to remove the taxes on North American cars. People that are planning to buy a new car down the road, will certainly buy it now, knowing that they can save 13% (in Ont)

I agree with removing the taxes on the cars and large appliances, at least for a time until our economy turns around a bit. It sure is hard to find products that are actually made completely in Canada. I imagine it is the same for the States.

This sure wouldn't solve problems, but it'd be a boost, IMO. Get the media to stop reveling in the fact that things are bad. They are loving this! I'm not at all saying they should lie - but if they just stop gorging themselves and then regurgitating bad news then maybe some people would not be so afraid to spend a penny. I know I would be one of them! People buying things would sure help. Remember - I'm not saying that that is the basis for the problems, but the media hids little bits of good news ("January retail prices were slightly up - a surprise" - - then "BUT!!! ...."). Let's get a little positive news in the news - there is some.

Don't put the country into so much debt we will never see the end of it and allow businesses who manage their companies badly to go away. Propping them up just makes them stupidier with their money, as we've seen.

IMHO lower the minimum wage and the payroll taxes for employers. If we make it profitable for companies to operate in America, they will come back.

This is radical, but outlaw insurance. Insurance premiums are killing business, so are lawsuits for that matter.

Stop all news programs and newspapers. The media is painting such doom and gloom and it feeds the monster. The stock market and parts of the economy are driven by perception.
Donna

I personally believe that the Government needs to return all the borrowed money to the lender and let the market place deal with this. The companies that were so badly managed will fail, but, those companies and/or individuals who are still solvent will step in and pick up the bargains. With proper management, they will make a profit and thrive and put people back to work. In my opinion a lot faster than anything the Govt. can. In addition to that the American people need to understand that they can't always have what they want when they want it. Restraints need to put in place to protect those who do not understand that they cannot afford that new Lexus. Might have to settle for a used Ford until they grow up. In other words, if you don't qualify for the loan, you have to wait until you do.

Man, you people have a lot of good ideas. (Especially the ones about the media!!!) All it does it scare the heck out of us and make us think we'll lose our last penny. Then on CNBC they keep talking about how things were worse in 1982 (or around there). Well, I sure don't remember things being that bad back then, but CNN, Fox and the networks weren't so dramatic back then.

One thing they could stop right now as far as I'm concerned is that in June they're giving every senior citizen $250. Why? If someone is in need they'll need a whole lot more than that. Those who are frugal will just put it in the bank. IMHO, it's just a big, fat waste of money and puts us deeper in debt.

Someday soon I will start a post about Canada, because for being so close, I know sooooo little about your country. As an example, I didn't know you manufactured cars--but I'd like to find out more. I hope that won't be politically incorrect on this forum. I'd just like to know more about our neighbors.

I think they should put the economy into the hands of a group of stay-at-home-moms. We'd have those bozos straightened out in no time!

Levy a hefty tax and penalty on any company that outsources their work out of the USA. It's time for the protectionism of our country to return.

Address silly lawsuits. Anyone that files and loses needs to compensate the courts for the time they consumed and also pay for the defendant's expenses. Perhaps that would make people think twice before filing them. And the same with the attorney's that encourage them, they should share in paying fines and costs. Especially the class action suits. The greed must stop.

We have to do our share as well. We need to stop feeling that we are entitled. We are a country of instant gratification, when we want something we run out and buy it instead of waiting until we can afford it. The bigger house, the better car.....that's what got us into this mess. Heaven forbid we should tell our children no.

Hey Patti,
I'm sure we'd love to "educate" you a bit on Canada.
Yep, we have several car manufacturers here.......the Big 3, as well as Honda and Toyota. If you like the looks of Dodge Charger, Chrysler 300 and the new Challenger, they're all made here. (I love them!) The Chrysler mini-van as well. I'm not sure what all Fords and GM's are made here.

I say put a moratorium (sp) on taxes of all kinds for 6 months, let people get out of debt. I think that for those that financed at a high rate should be able to do a refi for the now much lower rates regardless of credit rating, that banks that gave it to them should refi for lower. And I also agree that we need to stop bailing out companies that were/are mismanaged.. this is just a process and businesses need to be weeded out.

And I think things should go back to when I was younger, it was a big deal if you could get a Sears credit card, and that was if you were in your 20's had a full time job. Credit should not be dispensed as an entitlement, it should be earned based on your history. And houses should be purchased with 20% down, if you want something bad enough, you work for it.

I am one of those that has managed my money just fine, I have a fico score of over 800 and have lived in the same house for 30 years (bought my parents) so I am having a hard time throwing money at the people/businesses that mismanaged their money, how about the ones that didn't?

Get the media to stop reveling in the fact that things are bad.
Stop all news programs and newspapers. The media is painting such doom and gloom and it feeds the monster. The stock market and parts of the economy are driven by perception.
Donna
I agree, but our president uses the words Financial Crisis 20 times in one speech.

Stop bailing out everyone, including those who bought homes way over what they could afford. Stop paying the illegals free everything including giving Soc. Sec to those who never paid into it, including those from other countries. Encourage the media to be more positive. And no most Seniors don't need those bonus checks of 250.00. That is nothing, but demand the pharmacy companies stop charging so much for many the the drugs they sell especially if they have been on the market for an extended time.
Appoint our Gov to help monitor the spending. He is ultra conservative --guess that is why we are in the black.
Make sure the business owners (med, small & family owned), are given free training to maintain and keep the business.
Find out why milk and bread and other products are so high when the farmers and producers are going broke.

Mariend, do you live in North Dakota. They talk about ND a lot about being about the only state in the black and with little unemployment. I say "Hooray for ND"!!

Is there a fix? How do you fix greed and self-serving people? That seems to be the root of most of our problems. People and companies need to be held responsible for their actions. It makes no sense to me to help people stay in homes that they ultimately can't afford and to help corporations who helped cause the collapse of the economy.

Lynn and Paula I certainly agree with you. The sense of entitlement sure runs rampant. Why is it so important to give the kids everything we didn't have when we grew up? Why is it so important to have a large house and a brand new car? I'm tired of the attitude that people must have everything they want and they want it now! There was a lot of fun when I was growing up in counting my pennies and saving for what I wanted to buy. I treasured what I purchased because it took me a while to obtain it and I had to wait until I could get it. People are buying things beyond there means and running up lots of credit debt. It's time to step back to reality.

Good idea on the media coverage. When I lost my job in September, that made me really depressed. There was nothing on TV but that, and the election. I would turn it off, but with no money, and no one else around, it was my company sometimes.

Something needs to be done to get the RE market back on track. Interest rates are pretty low now, but for a while they need to go lower. People should be able to purchase or refi any loan for 6 mos, or so, at rates that make sense for the market and the times. They need to address the bad paper for the bad loans. Supposedly TARP was to help banks that were in that trouble. But the money was used for everything but that. As I went through my unemployment saga, the banks all offered programs - I could get help, but the programs won't help me, or the majority of the people I talk to. My savings are gone, my credit is gone (for now) and any help with mortgage is to refi just under my current rate. That will cost money, now and in the long run. Plus, the programs are for people at or near foreclosure. I'm trying to prevent foreclosure! If I could refi at a lower rate, maybe I could catch up, and also sell the house because someone could get a market based loan. Cant' get out of my house because it won't sell, and playing catch up is so slow and causing more problems with every other thing I have to pay. Once the bad paper is gone, the banks will lend because they can get more credit themselves. I know someone that just lost a job because the company they worked for has plenty of work and orders coming. The orders can't be placed because the companies that want the stuff can't get credit to place them. Our economy is based on credit. If that credit doesn't flow, nothing happens.

Someone told me a little over a year ago, that once the 1st quarter ended, investors would find out how bad the paper really was - junk from bad mortgage loans, and the economy would begin to unravel. When it was finally annouced back in the Fall, it was such a shock to everyone and the whole world pannicked. Can you say tailspin!! They need to get real estate back in the game. A home equals stability. One that area is stabalized, jobs will begin to fall in place. They also need to go after the outright crooks that took advantage of the good things about success and exploited it for greed. Martha Stewart went to jail. Not saying whether she should, or shouldn't have been there, but when I think of those crooks still living in luxury for destroying folks lives, I'm really PO'd. Martha's so-called crime was nothing in comparison to what's out there now. That darn good-ole boy network!

A bit OT. At my DGS's 11th birthday party today, I don't know how it came up, but super succesful businessman DS made a comment to the kid, (referring to what the "stimulas plan" is costing each of us) "You already owe $38,000 in taxes and you don't even have a job yet." Then, as an aside to me, said "I'm trying to raise a good conservative."
My suggestion to boost the economy is not to spend these trillions of dollars on 9000 pork barrel projects, but give each of us $38,000 which we will then spend to boost the economy.

Shut down the 24 hour news media stations.

Get rid of the 'crooks' in the financial world who compounded this latest meltdown. Treat their cases much like the an ordinary person going through bankruptcy. Confiscate all their property and return a $50,000 allowance for a domicile, and then distribute the remainder to those who lost money due to their illegal actions. This would not immediately fix the current conditionm but would deter these actions in the future and permit the economy to heal itself.

Dig into health costs that have risen much faster than the inflation rate over the past few years. The quality of care has not risen that fast.

I think one thing that needs to change is our political system. It's not working anymore. It's just two parties fighting for power at all costs. Some people are blaming the Republicans and others the Democrats for our problems but it's how our political system works as a whole that is the problem. Right now the entire Republican party is hoping that the stimulus fails, that Obama fails, that everything led by the Democratic majority fails. That is scary. If the Republicans were in power, it would be just be the other way around so I'm not being anti-Republican by that statement. Corporations and the wealthy are the only ones with any power since they are the ones that are providing the capital to the political parties.

People need to be more responsible for their actions. If you bought a bigger home than you could comfortably afford, that is YOUR problem, not mine. The irresponsible lenders should be required to work with the irresponsible borrowers to come to mutually-acceptable terms. Maybe an interest-only loan for 3 years and extend the life of the loan to 40 or 50 years.

If you buy a house and the value goes down, that's life. Like gambling. Many of the people who are worrying about the house value going down were speculating on the value going up. You gambled...you lost. It's still the house you wanted--now pay for it.

And I hope that in November 2010, every citizen will remember the irresponsible actions of Congress, and vote out every incumbent--regardless of party. It's time to have some new blood in D.C., and send a message to them that it's not their money to throw away. (I realize we would still have 2/3 of the Senators, but I think they would get the message and clean up their act.)

Any executive who ran his company into the ground (i.e., AIG, GM, Citigroup, etc.) should not only have his salary and benefits reduced to $160,000 per year (commensurate with what congressmen make), but he should also be fined the difference between what he was paid and $160,000 per year for each year that his company was in the red. When I worked, we had a performance-based system. That's what we need now.

Sadly, if we instituted a performance-based system for Congress, with penalties, a number of lawmakers would receive the death penalty.....

People need to be more responsible for their actions. If you bought a bigger home than you could comfortably afford, that is YOUR problem, not mine.

If you buy a house and the value goes down, that's life. Like gambling. Many of the people who are worrying about the house value going down were speculating on the value going up. You gambled...you lost. It's still the house you wanted--now pay for it.

Well said! :-)

Right on, wanda!

I have a sure fire way to get the economy moving again. First we invite every politician on a road trip through our towns and cities. Let them see and feel for themselves how bad the road conditions are. Hire people to fill the pot holes and widen the roads. You canÂt get the economy "moving" until you can "move" safely on the roads.

SamKaren
your resident DJ

Amen to Wanda...also, no more bail-outs. Let the chips fall where they may, this is ridiculous. I don't want to pay for mortgages of others.

Agree with not paying for irresponsible behavior, but when you loose your job because of the greed of others, it's hard to pay, irrisponsible or not. It's not that simple. The folks with money (wealth) have a better chance, but those with less really don't. Now that this has hurt those with money, or those that saved properly, and have lost everything, it's become a media circus. A lot of times you don't have choices with retirement decisions. A lot of companies require people to join a 401K or healthplan because they get discounts when it is mandated for everyone. There is so much to this economic crisis that you can't isolate any one cause or remedy. Whether we like it or not, someone will have undeserved benefits - a poorly managed corporation, or a misguided homeowner. I just think it is pretty risky to continue the bailouts to banks that do not do things to release funds. Investors should be forced to this as well. They may not make as much money, but right now, no one is making anything - in fact the losses are still mounting. Again, as last posted, get the cooks out of power and prosecute them.

Someone mentioned healthcare - YES, fix this mess. I heard that one drug company bought another for billions of dollars today - BILLIONS???? Who has billions????? Give it up - pay for someone's health care or meds, or assisted living for a year or someting. The buck has to stop somewhere, and someone needs to step up to the plate first. If they don't do that, then make some cheaper drugs that work. The other thing - FIX THE SYSTEM. No one - even those with money, can have problems navigating the system in their silver years. In fact it is better if they don't have money. They way it is now caretakers will be sick from trying to take care of their loved ones. The paperwork, restrictions and limitations are unbelievable. Then they have to take care of the loved one too. Staff the offices that have to serve the public on this issue. They are truly burned out. Oh this get's me going.

I think that the outsourcing of jobs has hurt both Canada, the US and from what I read, quite a bit of Europe. We need to quit outsorcing the jobs to countries where their governments are not doing their jobs. We need to do business with countries that that have good human rights laws, environmental laws etc. We need to get rid of the corporate greed that only benefits the very rich. I think closing all the loopholes would be good. Most elected officials are very greedy and think only of themselves. Case in point, why would anyone want to stay in office for 30 or 40 years. The job must be very lucrative for them! Of all the politicians out there, I think I hate those the most that have been there since I have been a kid - that's for both parties! I think they need term limits.

gneegirl-- very well said. There are no easy answers, though there's a pretty easy cause: deregulation and greed. Whomever thinks that trickledown economics will work has seen the experiment carried out. Can anyone now say with a straight face that those who have much will do the right thing and give a fig about the rest of us? It seems not. This is quite a political post and I'm surprised it hasn't been pulled; hope I'm not the one who finally gets it yanked!

I have to agree with all the great ideas posted. Price of insurance is ridiculous, as is most Medications. Need to put a cap on the amount of interest a credit card company can charge.

I am actually shocked at some of the answers posted here. Why on earth would you want to ban media coverage. If you don't like what you hear, turn them off. Don't limit free speech. We don't need the government saying what we are allowed to listen to. We can make that decision ourselves.

We don't need the government limiting what a business makes in profit. That economy is based on capitalism. If you don't like what a credit card company charges, look around at the other jillion offers you get in the mail for a better rate. It's their money, they get to set the rules. If you don't like it, go borrow from someone else or fix your credit where you qualify for a better rate.

I have said this before. We were all born into this world with the same opportunity. It is what we have done with our lives that determines our current situation. Nobody owes anyone else anything.

Now to answer the question, I think a 6 month or year moratorium on income taxes would help spur the economy. People could take the money that they pay in taxes each pay period and use for whatever they want. Buy furniture, appliances, take a vacation, eat out, actually save some, ect. This in turn would trickle back into the economy. Only problem is the politicians will never allow that. Once the American people realize how much they are actually sending to the government and would no longer get to keep it after the moratorium, there would be massive outcries to overhaul the IRS.

Since they want to give money away to all kinds of corportions and countries howabout giving every citizen $10,000. in the long run a cheap way to help out those who may really need it.

cbtexas you have it right!!

june

Impeach Obama.

Here is a link that might be useful: Obama's business-killing tactics

I'm very glad you guys aren't running this country!!

My suggestion, immediately require every citizen over the age of 4 into a series of classes to learn the difference between a want and a need (ie a necessity vs a luxury) and educate as to alternatives for how to finance the two. Set up each class so that people of all economic and ethnic backgrounds are well represented in 1 class.

Kec01, I actually am impressed with many of the ideas I've read here. In fact, the problem with the current political structure is that the "kings and queens of DC" are so insulated from real life and they're living so high on the hog, that they've no idea what the real problems are, much less - the SOLUTIONS to the problems.

Congressman may make $160,000 a year, but the overwhelming majority are reporting incomes of $1 million or more. Lots of magical things happen when you gain political office.

Make every politician work for minimum wage. It is ridulcuous the amount of money they make and for doing what? Standing around arguing most of the time. Also, make them pay for their own health care. This should apply for past presidents as well.

The giving $10,000 to every family in America is a great idea. I could sure use it. Instead they are pumping the money into companies that don't know how to manage money in the first place.

Impeach Obama???? Give the guy a chance. Considering what we had for the last 8 years I wouldn't want to go back to that again.

SamKaren
your resident DJ

With all the tax cheats we hear about recently, I suggest that all politicians, regardless of party affilliation, be audited to ensure that they have paid all taxes due. After collecting past due taxes plus penalties, the government should have plenty of money to get our country going again.

Outsourced businesses must come home or be banned from our country, lose their citizenship and any assests they have here. They are traitors in my book.
Develop our own resources, become a self-sufficient country, relying on no other country for anything.
Send all non-citizens back where they came from and lock the doors/borders.
Charity begins at home....quit helping all other countries and start taking care of our own people.
Stop immediately all these "salaries and benefits for life" that ex-presidents and congressmen and their families if they die get. Our working class of people sure don't get that.
Quit spending on frivolous things likes museums. Build roads, factories, new power sources.
$30 tax per carton of ciggies proposed? Oh sure, penalize the smokers but let the drunks and druggies continue to kill.
I agree with term limits of 2 or 4 yrs. for all congressmen and senators.
Do away with the party system as we know it....everyone run as an independent.
The government needs to stop enacting all these laws to "protect us"...we managed just fine years ago without them.
Stop products "made in China, made in Taiwan, Hong Kong, etc. from entering our country including food products.
Stop companies from buying out other companies and stealing the retirement funds.

"People need to be more responsible for their actions. If you bought a bigger home than you could comfortably afford, that is YOUR problem, not mine.
If you buy a house and the value goes down, that's life. Like gambling. Many of the people who are worrying about the house value going down were speculating on the value going up. You gambled...you lost. It's still the house you wanted--now pay for it."

Well said - back in 1983, we saved my salary for 3 years to come up with a down payment on a house.

We didn't buy things we couldn't afford, we did not go on fancy vacations, we saved what we could. We now have 2 homes that are mortgage free.

We have no children, but if we did, we would not indulge their every whim.

I agree that the media is creating panic and they should back off.

I agree that the bailouts have to stop. Pounding more money into GM is like pounding money down a rat hole. They are done and the sooner the government realizes it, the better for all of us. Let Ford pick up the additional manufacturing capacity and laborforce. The demand won't go away it will just shift to a more profitable company.

As for outsourcing if you want to tax people or fine them to discourage outsourcing, you must also be willing to pay 20% higher prices and/or salary reductions. Either way there is a reason why companies are outsourcing to cheaper labor pools - to keep their costs down and the prices they charge to you, the consumer. We made Walmart America's biggest retailer for a reason - we wanted low prices. So, you can't have it both ways.

As for protectionism - bad, bad idea. You start boycotting goods and services from other countries and guess what? They'll retaliate and boycott our products which means our exports dry up. And fewer sales means more layoffs at home. We NEED that foreign market to keep Americans employed.

i think if they had just doled out the estimated $450,000 per family we could have done quite nicely.

we do need to bring back manufacturing back to the usa. we need more monies to go into research and development, than to stock holders.

we need to listen to people like t boon pickett on energy.

education should be # one for our children, instead of cell phones, $200 sneakers. let them wear a uniform.

if you've "got" it, share it. i mean how many expensive homes can you live in or cars to drive?

treat banks as what they are. a business to serve US.

A moratorium on taxes would kill California. They are having horrendous revenue shortfalls as it is with sales taxes way down and businesses leaving the state. Government needs the taxes to help fund itself.

I think the Age of Manufacturing is drawing to a close in America. Just like Agriculture did before it. They are sprouting up in developing countries and will spur economic growth there, like happened here. But we can't continue to compete in our existing labor and regulation structure.

America needs to move into the Age of Technology and Invention to create growth. I agree that we need more research and development.

And I totally agree about the frivolous lawsuits! Forgot to mention that in my earlier post. Insurance costs have skyrocketed - one of the biggest contributors to healthcare costs is malpractice insurance. Nobody wins on frivoulous lawsuits except the lawyers on both sides.

Maybe we need a system like they have in Great Britain. Loser pays the winner's legal fees - that discourages frivolous lawsuits and publicity seeking hounds.

If I won the lottery, I'd do my part to boost the economy.

:-)

I hope I don't get flamed for this, but it's interesting that everyone has suggested what SOMEONE ELSE could/should do to help the economy.

We ALL have the power to turn the economy around. Sure, not as individuals, but as group. Yesterday, Warren Buffet was saying has has never seen the American people change their spending habits as they have done recently. It's a 180 degree turn!

How many of us here have changed our spending habits out of fear? I don't mean those who have lost a job, or have urgent medical expenses. But how many of us, who haven't been directly affected by the economic downturn, have stopped spending money because we're afraid?

Someone on another thread said they are shopping only at local "mom & pop" stores. Someone else said they try to eat out once a week or so.

I think that if you're financially able, try to spend a little.

Maybe we ALL can help turn the economy around!

Ellen

Good point, Ellen.

I can honestly say DH and and I haven't changed our spending habits one bit...because the economy in this part of the country hasn't been affected.

In fact, we've probably spent more in the last 6-9 months than we normally would have, as we had some improvement projects done on our property.

another idea is to send all the illegal aliens home I said illegals there is talk that they will get some of the jobs supposed to be created here. Jobs no one will do? give me break who did them before ?