It’s the economy, stupid

By Todd Hansen

The economic crisis America faces will leave little time for rest in the coming months for the next administration.

During former President Bill Clinton’s presidential campaign, political strategist James Carville coined the term “it’s the economy, stupid.” In this year’s election, both candidates and supporters say a change to the economy is needed.

“The next president will have to set his agenda early and get the wounds of the past administration healed,” said Papillion voter Tom Reber. “Politicians were pandering to big business, which caused our economic collapse.”

CNN recently ran a segment that aimed to determine who is to blame for the economic crisis. The report mentioned Texas Sen. Phill Gramm’s efforts to pass the Gramm-Leach-Bliley Act in 1999, which allowed commercial and investment banks to consolidate.

Dr. Janet West, an economics professor at UNO, said the act resulted in companies becoming “too big to fail” and forced the government to bailout these companies in recent months.

“We need to get banks loosened up to be able to make loans to small businesses,” West said.

West said these types of institutions are all interconnected, but she was unclear as to whether America is going to need more transparency from the next administration to help get the economy back on track.

West said the most pressing economic issue, though, is the ability for the nation’s children to go to college and reach their potential.

“Kids need enough financial security to be able to go to college,” West said. “That would benefit our economy long term.”