How is the bad economy effecting us, and our plans on traveling?

Most of the people love to travel, however, traveling can be expensive and not everyone can afford to take trips, especially these days. The United States economy it is not going so well; therefore, many people are losing their jobs which is effecting many aspects of their lives. People all over the nation are trying to save money by cutting luxury expenses, such as :not going out as much, and finally not traveling. Since, the economy and Congress decisions effect us greatly, lets look at why is the economy bad and how does that effect us.

The United States has over 300 000 million people; the majority belong to the middle and the working class. An average working class family make around $24 0000 per year, which is not much at all. The banking system in America has been set up wrong, allowing people to buy houses with as low as 10 percent money down. This means that a person could buy a $100 000 house, with only $10 000. That person would have to pay interest on their mortgage, and would probably take decades until he or she can pay their entire debt. In many cases, people did not make enough money to purchase a home, but the idea of being able to have their own home for as less as $10 ooo, is what attracted them. Many families have ended up by losing their houses because they were not able to complete the monthly payments. Therefore, many people got credit from banks, and were not able to pay it back, and that is why many banks failed because they did not have more money.

A bailout plan was proposed by the president Obama, to help the failing banks and the private companies that were close to bankrupt. This bailout plan was close to $790 billion, and this was passed by our Congress. It took five weeks for Congress to pass this bill because Republicans were against it. However, the bill was passed and this money was distributed to private companies, such as : AIG, General Motors, The Northern Trust bank and so on. Guess where Congress got this money from? Me and you, and all other American tax-payers. This money was distributed to help private companies from failing, while there were much better ways to spend that amount of money. America is in two wars, our health system and education needs a lot of work, so $790 billion bill was unnecessary to be spent on helping private companies.

Our money is being spent and our futures look undesirable because of the decisions that are made by Congress. Everyone should be informed on what is going on with the American economy and why is it that innocent people are suffering .