Economic Debate

One of the most frustrating and controversial problems that the United States faces today is the recessing economy. Our country is in the worst financial crisis since the Great depression. The unemployment rate has risen to 9.7% and businesses are closing like never before. Once large and successful companies have had to lay off workers and make huge cuts just to keep from going under. The economy is in a critical state, and without something to fix it, it could get even worse. However, the Democratic and Republican Parties both have very different ideas on how to make this fix.

The Democratic Party believes in very liberal ideas. They want to increase minimum wage for a more stable lower-class, and put higher taxes on upper-class people to keep the wealth in regulation. Also, they believe in lower tuition for colleges so that more of the population will have a chance at a college degree. With a degree from college, people will be able to have better jobs which would help the financial status of the U.S. as well as the unemployment rate. The Democratic Party essentially wants to give all people a level playing field.

The Republican Party believes in more individual-based ideas. Republicans want equal but fair taxes on all people regardless of income because they feel that the more prosperous businesses have been abused by high taxes merely because of their wealth. They are opposed to minimum wage increases because it hurts business causing them to make more cuts. Also, they believe that the poor should have a way to be taken care of such as welfare, but that the government should put restrictions on it so that it will not be taken advantage of. These two parties have nearly opposite ideas on how to fix the economy, but the only way it is going to happen is by working with each other through these hard times.