Common (cents) Sense and the Presidential Election

As I sit in my office today, I am contemplating what to write about and have a serious discussion on. Then it hits me like a ton of bricks…write about the election and how it will impact the economy. Write about how both candidates promise to change the status quo when it comes to health care, tax cuts and creating jobs. Lastly, write about how which candidate makes the most common sense concerning these topics and which candidate is considered out of touch. So here goes! The good, the bad and the ugly. After all has been said and done by the end of this week’s blog, I am sure that I will offend many and at the same time have many that will agree with me. In any event, if I say something that offends you, feel free to let me know via commenting on my blog.

The Good
Both the Democratic and Republican Presidential candidates promise to make health care more affordable, cut taxes for the majority and create jobs but they differ on how they are going to go about implementing these promises. Both candidates promise that there will be a new day in our nation’s capitol. A day where “pork barrel” spending will be no more and where lobbyist will not influence the politics of the day. One is inspirational and eloquent and full of charisma. The other is and has been considered a “maverick” for the way he breaks from his party on certain issues. Both of them think that they are the best choice for President and both know that there will only be one at the end of the ELECTION DAY. Both will be better than “the one” we currently have as President but again there can only be one. So who will it be? Let me apply the common (cent) sense I have learned in my 42 years and then challenge you the reader to comment with your opinions.

The Bad
The industry definition of recession is, “a period of economic contraction” contraction being the operative word. The common (cents) sense definition of recession is when more and more of the population have to do more with less and it becomes a cycle and spreads. Regardless of the definition we are in a recession from where I sit. We are all victims of a declining economy and we have not seen the bottom so hold on for the ride.

The Ugly
We are in the worst housing market I have seen in my lifetime. Thousands have lost or will lose their homes because of poor mortgage product choices, investor purchases, predatory lending and/or being uneducated about the buying process. The sad thing about this housing crisis is that we spent over 700 billion to bail out Wall Street and neglected to address the homeowner.

Common Cents Solution
From where I sit, the solution is simple and here goes:
1. Vote for BARACK OBAMA (I hope the country agrees with me)!
2. Have the new President partner with John McCain on the important platform issues to solve the economic and foreign policy crises!
3. Force the Banks, Fannie Mae, Freddie Mac and private investors who are the servicers of most mortgages to rewrite and modify (not refinance)the mortgages on all “upside down" mortgages!
4. Allow the servicers to write off the loss at no penalty to the bottom line (make it a tax shelter or something)!
5. Do the right thing when it comes to healthcare by making it reasonable and affordable for all who need it!

These are my thoughts and I welcome your comments so let me have it!!!!!!!!!!!!!!!!!!!!!!!