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February 20th, 2009
03:20 PM ET

Send us your questions on the economy

You’ve heard about the Stimulus plan, and the Housing rescue plan, and the TARP bank bailouts. But you still have questions, right?

Ask us your questions here, and our experts will give you some answers tonight on AC360° at 10PM ET.


Filed under: Economy • T1
soundoff (315 Responses)
  1. Dan

    Here's a concept–eliminate federal income tax as a stimulus for our economy. Create a federal sales tax, if necessary, to offset revenue loses. This would eliminate all the costs associated with tax collection, eliminate the disadvantages that tax paying workers have over "under the table" employees, stimulate the job market by easing employers' reservations about new hires, provoke people to spend more of their own money–you can go on and on and on...

    February 23, 2009 at 10:33 am |
  2. Rony

    US needs to adjust personal income and exspenditure. Consumers are highly ambitious there and I think time comes to make real changes in the market structure. Over flactuation of international products ( currency, oil etc.) hit Us market from the outside but not from the inside. These are nothing but the clashes with the numbers(results). I hope US will definitely recover from this meltdown and beneath I have some opinions:
    1. Rationale new international products ( Currency, Oil etc.) policy
    2. Make small loans without collateral for those who has already laid off
    3. Adjust the toxic debts and after certain time remove bad products from the financial market (with specified time)
    4. Encourage Foreign Direct Investment to tackle social unrest or labor movement.

    Since every human can manipulate, the results (numbers) will come to you automatically. Think how it comes.

    February 23, 2009 at 9:22 am |
  3. carma kump

    I Love the president...I voted 4 him tho living in a republican state. But i think he needs to rethink how he is handing out the stimulus to the people...the 400 a person immediately would be best 4 economy cuz come on 13 dollars more a paycheck then 7 the following ...who in their right mind will even notice that? a few dollars are just gone and gone on nothing...sorry to complain but this is one idea i think he has half backwards! and like my daughter sick, no job, no unemployment...losing her house and cars...what the heck where is hers?

    February 23, 2009 at 12:38 am |
  4. Thomas

    Recently laid off from my job due to the economic crisis where I was making roughly 55K per year, brought home around $3,100 per month, married with 4 children. My wife is still employed, and makes about 54K per year, and brings home $2,800 per month. I currently have a 1st and 2nd mortgage. My 1st mortgage is with Countrywide and its $320.625, 30 yr. Conv. Adj. Rate Mtge, current paying interest only, 5% Interest Rate which will not change/mature until 01/2011, we currently pay $1,430.41 monthly on our 1st. Our 2nd mortgage is with Sun Trust Bank and its $106,151.94 Revolving Interest Only, currently, this month the rate was at 4.5% and we paid ($404.17), Jan 09 ($470.26), Dec ($498.44), Nov ($559.83), and Oct ($541.77). The average monthly payment on our 2nd for the past 5 months is about $494.89, which gives a total of around $2,000 per month in mortgage payments. Currently, we owe a total of $426.776.94 on our home, the home was recently appraised at $460.00.00. I’m vigorously seeking employment, and hope to be employed again soon, I have savings which will allow us to continuing leaving in our home for a few months, we would like to remain in this home for the rest of our lives, I’m 35, and my wife is 31, please give us guidance on how we should proceed?

    February 22, 2009 at 3:50 pm |
  5. DT

    Sung Ho Choi:

    If your mortgage is at a variable rate it's understandable that you might have some rough months somewhere in those 30 years. Do you say to someone live in a one bedroom apartment with your husband and 2 kids? No. You afford your home and live in comfort. Mortgage for some is a high risk investment, yet for a lot of us is one step up from homelessness. Mortgage banks, the gov't, know that they are taking advantage of our basic necessities. Their hands are in everything.

    February 22, 2009 at 2:57 pm |
  6. Bernice Martin

    I live in Marion, Ms. a small municipally, and I would like to know how can we get parts of the stimilus pacakage when we have a Governor saying he's refuses to accept the plan? This small town has a great need for this plan so far as rebuilding road and repairing and replacing infrastructures etc.. that can make our commnunity more safer and energy efficient. How can he be so self centered?

    February 22, 2009 at 11:54 am |
  7. Dave Grant

    As a business owner why will the taxpayers not bail me and my employees out and money goes to the big three. The difference is the number of employees and I never gave bribes (political contributions) to Congress & the Senate

    February 21, 2009 at 8:37 pm |
  8. JIM FALLBROOK CA

    Ali
    Don’t you think that it is the obligation of the news media to tell the American people that Jimmy Carter Democrat is mainly responsible fo the budget deficits that we currently have? After all he allowed a terrorist to overthrow the Shah of Iran. Shah was Pro West. Then there was the 444 day hostage crisis. This comment from an article in Moonbattery May 2007 sums it up “The establishment of an Islamic terrorist regime in Iran that demonstrated to the world its ability to attack the US with impunity — Carter’s main legacy — set in motion disastrous chains of events that include 9/11 and are still playing out.” Instead of blaming all the presidents who succeeded him, they should make this a historical record. The American people should at least be aware who the culprit was.

    February 21, 2009 at 6:02 pm |
  9. N

    Why does Obama always talk about creating jobs. It gives false hope. Not everyone can qualify for gov't position focusing on the environment. I know it's wordplay but the psychology of saying he will create jobs might make some think they have to wait until something gets signed in hopes that their President will fix it, when that's not the case. He should rephrase and say that he is AIDING IN JOB CREATION whilst focusing on the environment. (like it kinda says at whitehouse.gov) outside of that, I hope people know they should still train and apply within THEIR field of expertise.

    February 21, 2009 at 6:00 pm |
  10. Delores

    Andersong ,

    I have a big problem with the reports on this mortgage crisis.

    The banks have always gotten paid upfront. The first 5 years of a mortgage is 97% interest. Only a minute portions goes towards our principal .

    The banks are failing because of their own greed and lack of concern for the public it robs.

    Why has no one addressed this issue?

    February 21, 2009 at 4:32 pm |
  11. Michael Witkowski

    I think CNN & Republicans are the only persons in this nation who knows this Obama Stimulus plan will not work. As for the creation of Jobs, seems if you know how to dig a ditch; you will get a job. What about the "white collar" worker at 50 yrs old, lost a job; is he fit to work 8 hours in construction; I don't think so.

    Now the Bigest Bad News of all, Hersey's Candy as american as Apple Pie; is closing down their Reading PA candy plant and putting over 250 workers out or work. But the candy that was made here will now be made at the new Hersey's plant in > Montery Mexico . OUT OF THE USA...

    America is going to "heck" in a Hand Basket, and the Easter Bunny is the president, but all we are getting are " Rotten Eggs"

    February 21, 2009 at 1:33 pm |
  12. Kathy Moran RN

    I have had a fixed rate on my first mortgage for over 8 years, with Wells Fargo as well as a sub prime 2nd loan with them. I lost 2 RN jobs in 2008 due to epilepsy, politics discrimination and a serious car accident last year. I continue to pay both notes with the only liquid asset I have left-a small state pension I took out January 2009-taxed to the teeth of course. I work one day a week preparing taxes until the season ends because I cannot get a job in the only industry flourishing in this economy. Wells Fargo denied my refi due to one foreclosed property on my block. I am $57,000 underwater now..Wells Fargo will NOT talk to me or work with me to modify or reduce interest my loans, except to deny me. I like the squatting in your own home the congresswoman in Toledo, OH is suggesting..How do I do it and keep the law away?This is my home, I investing blood sweat and tears into it and raised 5 kids alone..I am not giving up without a fight.

    February 21, 2009 at 9:33 am |
  13. Kathy Moran RN

    I have had a fixed rated 8 years, on my first mortgage with Wells Fargo as well as a sub prime 2nd loan with them. I lost 2 RN jobs in 2008 due to epilepsy, politics discrimination and a serious car accident last year. I continue to pay both notes with the only liquid asset I have left-a small state pension I took out January 2009-taxed to the teeth of course. I work one day a week preparing taxes until the season ends because I cannot get a job in the only industry flourishing in this economy. Wells Fargo denied my refi due to one foreclosed property on my block. I am $57,000 underwater now..Wells Fargo will NOT talk to me or work with me to modify or reduce interest my loans, except to deny me. I like the squatting in your own home the congresswoman in Toledo, OH is suggesting..How do I do it and keep the law away?This is my home, I investing blood sweat and tears into it and raised 5 kids alone..I am not giving up without a fight.

    February 21, 2009 at 9:33 am |
  14. Als

    I think everything happens for a reason. Houses were over priced for a long time. I watched HGTV and House Hunters for a long time and some of these houses were ridiculously priced. I think house prices are where they should be.

    February 21, 2009 at 8:48 am |
  15. alex joe

    I have money on saving in BofA ( less then 100000). Question: should I start to worry about that the government'll take over that bank? About nationalization?
    To the topic: I think that so-called "stimulus plan" will left ALL people unhappy and unsatisfyed even (or especially) broken homeowers. And the government will waste billions for nothing.

    February 21, 2009 at 8:40 am |
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