Current Event #4
Many experts across the country believe that the economy crisis in the United Stateswas only worsened by the government funded bailout plan. The plan was set to restablilize the country, and hopefully bring down the large rates in mortagesand loans, which has spurred up in the last months. The effect has been quite theopposite. Bank loans and mortages are harder to get than ever, and the intereston these loans are also rising at an alarming rate. Economic experts believe this is just the beginning problems to come due to the bailout plan, and they suggestthat the capitalist system should have tried to work thier problems out without thehelp of the federal government. I strongly disagree with many of these experts. The negative effects of the bailout plan were very probable, but the alternatewould have been much worse. Higher interest and stricter limits on loans is muchbetter than house forclosures, along with new families with no way of getting the money they need to start their family. Eventually, I do believe that the bailout plan will benefit America far more than hurt it. Given a couple of years for theeconomy to level out, our capitalist system will be restored to is former status.