Blog #32 Revised

Part One:
Dear Mr. Obama,

I have some questions and advice for you and your cabinet to try and impliment in you plans to fix the economy. My questions for you are:

Where exactly does that money go? We have spent billions of dollars for this war, but why can't we get that money back? Also with the economic crisis: who is at fault for this and exactly when were the first signs of this crisis? IF there is an answer, I want to know.

I have quite a few suggestions for you Mr. Obama. The first piece of advice would be to pull out of the Iraq war as soon as possible. The cost the war as of March 2008 was in the trillions! That is money that we could have been using to strengthen our economy and keep it stable. This war as earned itself a spot on the list of most costly wars, just behind Vietnam, WWII, and Korea. With all of that money, we could have prevented our current economic crisis. As of now, thousands of people are being layed off from their jobs everyday and the unemployment rate is 7% This crisis is almost as bad as the great stock market crash of 1929. I really am all for your plan to create about 3 million green jobs for American. That is very smart and everyone will be able to benefit from that. Another piece of advice that I have for you is to stimulate the economy by paying those who are being responsible in these economic times. There is all this talk about these bailouts and stimulus packages for companies that are failing, yet, there is no talk about rewarding those who are doing well. I think that in order to restore the economy to its full self we have to create new laws, and by this I mean in the area of lending and banking. One aspect of this crisis was subprime mortgage lending; lending to people who don't meet the requirements of the loan to be approved. A lot of banks and mortgage companies were subprime mortgage lending to people and that is how most of them ended up bankrupt. Some companies included Freddy Mac and Fannie May. The fall of the Lehman brothers was a huge deficit because a lot of other business went out of business. It is a domino effect, a sort of negative/reverse economic crisis.

Well this is all the advice that I can offer you, I hope that you will implement them in your further actions to reconstruct and build a stronger economy. Thank you for your time Mr. Obama,

Evan Lott


Sources

1. Bilmes, Linda J., and Joseph E. Stiglitz. "The Iraq War Will Cost Us $3 Trillion, and Much More - washingtonpost.com." washingtonpost.com - nation, world, technology and Washington area news and headlines. 13 Feb. 2009 .
2."More costly than 'the war to end all wars' | csmonitor.com." Google. 13 Feb. 2009 .
3. "Wall Street Crash of 1929 - Wikipedia, the free encyclopedia." Wikipedia, the free encyclopedia. 13 Feb. 2009 .
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Part Two: Luke and I will interview our mentor on monday in her office at 1:30 and we will record it with my phone.