The USA economy step decline

Summary:

Barack Obama won, 3 months ago, the most important victory in his political career: He was elected by American, as the president, but Barack has to worry about the USA economy that is declining.

On February 18/09 Barack Obama announced a plan to help the American people. The plan he announced costs $ 75 billion and with this plan he will save millions of families of foreclosure. Foreclosure means: a legal process by which mortgagees right to redeem a mortage is taken away, usually because of failing to pay.

The Obama’s administration is leaded, for this project, by Timothy Geithner (The treasury Secretary of Obama’s administration) that is also spending (with authorization of Obama) billions of dollars for rebuilding banks.

This type of market is called Housing market.

My Opinion:

I think that Barack Obama is doing well with this affirmation because he needs, urgently, to save the economy of USA starting with the housing market that has to hit bottom as economists say.

Economist say: “The housing market must hit bottom before the economy can start functioning normally again” and I agree with that affirmation.

* The summary was taken from http://www.pbs.org/newshour/extra/features/us/jan-june09/stimulus_02-18.html, the title of the original text was: Economy in step decline and the original article was written by Quinn Bowman.