You Decide Essay

528 Words3 Pages
As I read all of my colleges recommendations there are some great ideas and some not so great ideas. I agree with Raymond Burke, Economic Consultant when he recommends lowering interest rates to help businesses and consumers get back on their feet because this will make it easier for people to purchase cars and homes. This will then increase the demand for other needs such as household appliances or oil changes. This will also leave more money left over for the consumers by not spending it on interest costs, and spending more on the goods and services they need. I do not agree with Burke when he said that the President and Congress have some control over fiscal policy. They both have total control over fiscal policy. I agree with Kathy Lee, Former Economic Advisor to the President when she stated the President should consider raising taxes and reducing government spending. This is an easy way to get out of debt. But I disagree with this as well. The economy is in such a bine, that with an increase in taxes we will all suffer from this. Some people are just getting by with the money they earn and if taxes were to increase, the little money they have extra now won't be there anymore. When Patricia Lopez, Consultant to the Federal Reserve stated the Fed should leave interest rates alone, I agree with this unless they are going to decrease the rates. I do not agree with when she said that to raise the bank reserve requirements and sell bonds because I do not feel as if the bank holding on to a greater percentage of their customers' deposits will have people using that bank. When customers see what is being kept of their deposits, they will feel more comfortable by keeping their savings somewhere hidden in their home instead of at the bank. I agree with Allison Tanney, Economic Consultant when she stated the President should work with Congress to increase

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