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Is there anything we can do to stop the hemorrhaging of our US economy?

It seems with credit being tightened so mightily so that the consumer can't get a loan without having a nearly perfect credit score; and with wages not keeping pace with inflation; and with the price of necessities like food, shelter and fuel rising at extreme rates; is there anything we can do to stop this death spiral?

3 Answers

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  • Anonymous
    1 decade ago
    Favorite Answer

    This when we the people need to stop living beyond our needs and go back to moderate living standards and stop wasting food and products. Of course a high percentage of folk say that, but don't do it either...the cost...our economy. I for one have cut down on many things and find a savings of around $500 a month and still finding ways to cut back on our house hold spending. We have grown a beautiful garden of our own and that has added to the savings...we spend a bit more on water, but it does not compare to the prices at the supermarket. I put a basket on my mountain bike and use it for picking up things at the grocery store and paying bills...good exercise and it cuts back on using unnecessary gas. Closing the blinds in the house during the day helps keep it cooler when we have to use the air in 100+ degrees and keeping the lights off. We have even bought a evaporating cooler for the days that are under a 100 degrees, it uses no more electric than a fan. Recycling also bring income in, too. This all takes works, but think of it this way...you are making a difference.

    There are so many more things that I can write here, but take a look around your home and see what you can do to cut down the expenses in your home first and that will help save you money.

  • IceT
    Lv 7
    1 decade ago

    First the government should not bail out the mortage companies or the people who got subprime mortages. Most of the people who had subprime mortages were real estate speculators.

    We need to drill for oil in the US. Just the announcement that we are going to drill will cause oil prices to drop.

    We need to build oil refineries to process the oil.

    We need to build new nuclear, coal, and hydroelectric powerplants.

    The Bush tax cuts need to be made permanent.

    There needs to be government spending cuts.

    The US has the second highest corporate taxes in the world. So we need to drop the corporate tax rate. This will bring jobs to the US from other countries.

    We need to give government grants to find and perfect alternate fuel sources which should include better battery technology, and hydrogen power. This should not include ethanol. Ethanol is an inefficent fuel source. With ethanol we have taken an efficent and cheap food and turned it into an expensive and inefficent fuel.

  • D.C.
    Lv 6
    1 decade ago

    DON'T BUY ANYTHING NOT MADE IN AMERICA -----ALL THE IMPORTS ARE DE-VALUATING THE DOLLAR . ALL IMPORTS FROM AROUND THE WORLD WE ARE BUYING IS DRIVING THE INFLATION HIGHER AND HIGHER WITH THE DOLLAR GOING LOWER AND LOWER .

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