Obama's Current Marketing Situation

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Category: Business and Industry

Date Submitted: 10/28/2009 11:34 AM

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Current Marketing Situation

For over a month now, the market situation in America has been experiencing record losses. These losses have created a state of uncertainty with most Americans as to what the future holds for them. People are loosing their jobs across a wide range of industries. The unemployment rate has spiked to reach its highest monthly increase since 2001. People are paying more for food, water, gas, medical insurance, etc yet aren’t making enough money to be able to afford all of the things they need in order for basic survival.

“The average number of new jobless claims rose to 483,250 for the week ended October 11, the highest since 2001.” (http://articles.moneycentral.msn.com/Investing/Extra/why-your-job-could-be-at-risk-now.aspx)

With the Wall Street in turmoil and the housing market in shambles, many people say that we are in a recession. Our Federal Government says that we aren’t in a recession but that we do need to help correct the crisis going on at Wall Street so that it won’t have the trickle-down effect to everyday people across the US. The Federal Government has stepped in and supplied a $700 billion bailout package in hopes of helping to revive the economy and avoid another Great Depression.

The bill that was passed was the Emergency Economic Stabilization Act of 2008 (H.R.1424). Some of the highlights of the bill are:

• Increases from $100,000 to $250,000, until December 31,2009, the amount of deposit and share insurance coverage offered under the Federal Deposit Insurance Act and the Federal Credit Union Act.

• Denies certain employers whose assets have been purchased under the Troubled Asset Relief Program (TARP) a tax deduction for the payment of compensation or other benefits in excess of $500,000 to their executives or other highly compensated employees. Makes tax penalties for excess parachute payments applicable to employers who participate in TARP and their executives....