Debt Settlement Info

How are we going to right the economy?

February 19, 2009

Well now action has been taken by our government to try and attempt to fix this economic debacle.  With the trillion dollar stimulus bill many are hopeful that this will somehow right the economy and get us back on track. I personally believe it is too little too late.  Not enough jobs will be created for the middle class and people will still continue to lose their homes and not have enough income to keep up with the lifestyles they have grown accustomed too. 

The next big thing on the agenda is for President Obama to pass a new bill that will help to halt foreclosures.   However this seems more like a quick fix than a long term solution, unless these people get their loan payments drastically decreased for good then this bill will essentially do no good.  The problem is people got to much house for their income levels. 

One of the next issues that needs to get tackled is the problem of consumer credit card debt.  We now as a country owe over one trillion dollars in credit card debt.  What makes problems worse for this situation is the way the creditors prey upon its cardholders to nail them with high interest and penalty fees.  Maybe if some of these people got into some kind of debt relief programs then they would save enough money to possibly pay their mortgage and not lose their homes.

As we can all see there is no real quick fix to this economy it will take quite a while I believe for us to truly get back on our feet although I am hopeful that one day once again we will have the economic strength we once had.

Entry Filed under: economy. Tags: credit card debt, debt relief programs, economy, stimulus bill.