Economy, Jobs and Housing Market Assessment

By Padmini Arhant

The economy, job and housing market are the most important issues for the American electorate.

An overwhelming population is experiencing tough economic situations one way or another and there is legitimate concern over the rising deficit as well.

President Barack Obama and Congressional Democrats achievements, work-in-progress including the remedial measures are elaborated for better understanding and fair assessment.

Upon assuming office President Barack Obama and the Congressional Democrats passed the economic stimulus bill worth $787 billion to salvage the economy from ‘Great Depression,’ at that time.

This step was vital for the U.S. and the global economy on the precipitous decline following,

The previous administration’s deficit spending on two simultaneous wars in Iraq and Afghanistan,

Facilitating financial market recklessness,

Free market deregulations in finance, health and energy industries,

Widening deficits through financial and auto industry bailouts with no accountability

Allowing Corporations to evade taxes on domestic and overseas earnings with adverse effects on national revenue.

Extending tax cuts for the wealthy – are the few recipes that triggered the economic disaster.

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Padmini Arhant

Federal Program Evaluation on Mortgage Refinance and Foreclosures

Program Evaluation - By Padmini Arhant

Making Home Affordable program targets the vulnerable homeowners on the verge of losing their homes.

Mortgagees who are unemployed, underwater and delinquent in their payments could seek assistance provided they meet the criteria.

Aligning mortgage debt with the asset value in order to help people retain ownership is a prudent measure to stabilize the struggling housing market.

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Padmini Arhant

Weekly Events Synopsis

By Padmini Arhant

This week, President Barack Obama and the Democratic Congress secured three major achievements of national and international significance.

Beginning with the latest event:

The world’s prolific nuclear nations, U.S and Russia signed a long overdue nuclear weapons treaty reportedly to reduce the warhead arsenals by one-third with the hope to lead the international community towards a complete nuclear disarmament.

Housing market revival through programs targeting foreclosure for millions of homeowners.

And

National Health Care Legislation – is a historic victory for the democrats and the Obama Presidency.

A review and analysis on these topics is in progress.

Your patience is much appreciated.

Thank you.

Padmini Arhant

Financial Reform with an Independent Consumer Protection Agency

By Padmini Arhant

The Wall Street bailout season commenced in 2008 and continued into 2009. Those corporations allied with the oligarchs not only survived but their CEO’s are thriving amid difficult economic times and some states experiencing a double-digit unemployment.

As stated earlier in numerous articles on the economy and the financial sector, the speculators’ reckless conduct together with greed led to the status quo. The sub-prime mortgage and credit card lending practices targeting the vulnerable population contributed to the housing market decline and the alarming bankruptcies.

In addition, the credit crunch has forced many small businesses to lay off employees and left the self-employed in a dire situation. The private sector have also been affected in the liquidity crisis triggering the 9.7 percent national unemployment rate and much higher when consolidated with the under employed statistics.

Evidently, a rigorous financial reform is necessary to revive the economy and avert future meltdown.

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Padmini Arhant

Housing Market Recovery by decelerating Foreclosures

By Padmini Arhant

As stated earlier, the key to the economic recovery is to revive the job market, the housing market and passing the health care legislation. Both job and housing market is entirely dependent upon the consolidated commitments from the public and the private sector.

The public sector represented by the government has the right agenda with the President’s proposal to levy tax on the financial institutions responsible for the financial crisis. However, the collected tax and fees from the finance industry is rumored to be accumulated in the stimulus pool against the Republican supporters’ demand that the proceeds be applied to the national deficit reduction.

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Thank you.

Padmini Arhant