What to do with this ugly economy! Let me see if I can answer that! The first thing to focus on are jobs, jobs and more jobs. The gov't can slash the home interest rates all they want. But if people don't have jobs, then people won't buy homes. Regardless of how well the interest rate is.
The first thing I would do is a foreclosure freeze. Then I would put all my resources in making jobs, jobs and more jobs. So, what's in it for the people that have done well paying there mortgages? Offer these people a way to refinance at a smaller interest rate. Say 4%. You got to have incentives for the people that have kept up with there mortgage payments.
As for the big three and this auto bailout? We just gave banks 350 billion dollars. Have the three auto companies apply for credit with these banks we gave that money to. I would also suggest that the big three start making all automobiles hybrid or plug in electric. End the days where we need gas!
As for the other 350 billion? Create jobs! Work on roads, bridges, anything to get the average American back to work. Every city in America needs a road or a bridge fixed. Well, what are you all waiting for? Let's put America back to work. And then you will end this negative economy.
If anyone from the Obama transition team read this. Yes, I would love to work with Obama at the white house. email me! :)