What Lies Ahead For the US Economy Under New Political Leadership?
On December 1, the United States was officially recognized as experiencing a recession. And with it, came another gigantic drop in the stock market. As that President-Elect Barack Obama will be taking office in less than two months, many are wondering if he, as well as a Democratic majority in Congress, will be an effective solution. Well, in order to get into such a discussion, one must first realize the singular origin of the troubles we face today. It all stems from something called the Community Reinvestment Act which was enacted under the administration of Jimmy Carter and later heavily, and apparently negatively, revised under the administration of Bill Clinton. So, while Democratic officials have been quite successful in attempting to pin the blame on leaders of the Republican Party, in reality, it is quite the opposite. Earlier this year, President George W Bush and Congress approved a nationwide economic stimulus package. Good intentions, questionable idea, bad source of fundi
