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Solving The Foreclosure Crisis

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It is a well know fact that the world is in a financial crisis which has resulted in the foreclosure crisis. This is a problem that can not be resolved by the government alone. If the government continues to hand out bail out money to businesses trying to help them avoid bankruptcy or from going out of business the national debt will continue to increase. The national debt will have to someday be paid off and if the government continues to borrow money the result will be higher income taxes paid by those that are already struggling to bring home a paycheck that will meet their basic living expenses. In turn this will make the financial crisis continue to get worse as time goes on. This is a problem that has to be solved by each business and each person together.

The government should only have to assist in developing a plan, educating businesses and people; create some guidelines for businesses while encouraging everyone to do their part in bringing the economy out of this crisis. This includes better financial education in high schools and colleges.

Today’s employment opportunities have diminished over the last few years. People are taking pay cuts, losing jobs with little success at finding jobs or jobs at the same income level as they were at the time they financed their homes which has resulted in foreclosures. Many people are faced with having to increase their education to now find employment in fields they previously worked as they are no longer considered qualified due to lack of educational requirements. This creates more of a financial burden for the already financially impaired by taking out loans to cover the ever rising educational expenses to be even considered for job opportunities.

The big question is “Ho...

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...l only get worse. As with the Financial Institutions all businesses need to lower their profit margin and manage overhead costs. This is the only way that the United States will overcome the financial crisis.

As a result of the financial crisis there is the foreclosure crisis. Solving the foreclosure crisis is only a small part of what needs to be done to bring us out of the financial crisis. To completely solve one we need to solve both.

I know this essay seems to be more on the financial crisis than the foreclosure crisis but I feel it is very important to express how they go together and that both need to be fixed in order to help bring the economy out of the current crisis. I understand that President Obama is trying to help in anyway he can but the government is not solely responsible for the crisis, nor should they be solely responsible for fixing it.
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