In the United States of America, there are two major contemporary political parties. The Democratic Party, who was founded around the year 1828, promotes a social liberal platform and bases on modern values. On the other hand, the Republican Party, who was founded by anti-slavery activists in 1854, is based on American conservatism. Both parties contemplate on current issues in regards to economic and social affairs and foreign policy.
According to Fred Moseley, the United States economy is currently experiencing its worst crisis since the Great Depression. The crisis started in the home mortgage market, and is now spreading beyond subprime to prime mortgages, commercial real estate, corporate junk bonds, and other forms of debt. (Moseley) Many people are affected by not being able to sustain the roof over their heads or provide food on the table for their family because of how not only prices are increasing as well as the cost of living, but also due to modern technology, many are being replaced by such machinery of some sort.
In the Democratic, or Liberal, point of view towards the economic issues in the United States is that they believe there should be a regulation on Wall Street and taxes should be cut towards the low-income and working families while the wealthy continue to pay taxes. It seems fair doing so that way the lower and working class families would be able to sustain themselves and provide for their families better rather than having to worry about paying taxes for the government and resulting in such debt. Not only would it reduce the need for families to receive government assistance, but also more jobs would be available to those who currently are unemployed because job availability would open up since the average person has more than one job to be able to survive.
“The Rich get Richer” is the idea of the Conservatives. They believe there should be a deregulation on Wall Street and the wealthy should get a tax break while there is a...
Cited: Moseley, Fred. "The US economic crisis: causes and solutions." 20 January 2009. International Socialist Review. .
Obama, Barack. "The Americas." Santiago, Chile, 21 March 2011. Speech. Palacio de La Moneda Cultural Center. .
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