As a candidate for Congress in the 4th District of Maryland, Michael Babula has developed a few issues revolving around his campaign, but one issue, the economy, seems to have escaped the minds of his fellow competitors, Donna Edwards and Albert Wynn. It is important that this issue be stressed in a candidate’s campaign because of the “potential economic downturn,” Babula states, that the US may continue to fall into. Dr. Michael Babula has been teaching economics for five years and has conducted research in the economics field; therefore, he has become fully aware of the issues the current US economy has encountered. Whereas most professors understand the economic problems, Dr. Babula is not like “most professors,” he has decided to take a stand on improving the US by running for Congress.
Dr. Babula’s stand on the economic issue includes the problem of the decreasing value of the American dollar. $4.4 trillion in United States debt is owned by foreign investors, which could cause a problem if a terrorist attack were to happen. The devaluing of US currency will continue if foreign investors avoid American investments and invest their money in commodities such as gold. A New York Times article, Overseas Investors Buy Aggressively in U.S. dated January 20, 2008, stated: “Canada still spends the most money buying stakes in American companies—more than $65 billion in 2007, according to Thomson. But other countries’ purchases are growing rapidly. South Korea’s investments swelled to more than $10.4 billion last year from just $5.4 million in 2000. Russia went to $572 million from $60 million in that span; India to $3.3 billion from $364 million.”
The increasing amount of foreign purchases poses a threat to our US economy. In that same article, Leo W. Gerard, international president of United Steelworkers ads, “We’ve hollowed out our industrial base and run up this massive trade deficit, and now the countries that have built the deficits are coming back to buy up our assets. It’s like spitting in your face.” Also, on Babula’s campaign website, www.babula2008.com, details about the economic issue draw a parallel to the article above, such that they both agree that “the soaring price of oil and a widening trade deficit underscore how the American economy is increasingly vulnerable to decisions made far away.” This article justifies Dr. Michael Babula’s thoughts and concerns for the future of our economy due to the problem of the decreasing value of our currency.
There is so much people can do by just stating the facts and hoping someone will listen and act, but Dr. Michael Babula is willing to make the changes needed towards our economy. He can do this by being elected member of Congress. The changes he wants to make include proposing that the US government begin to consider lending grants to companies who offer alternative resources to oil and try to negotiate with China to trade its currency in the open market. This discussion revolving around Babula’s campaign under the subject of the economy is only a section of what he believes in and what he wishes to enforce if given the chance to become a part of Congress. Dr. Michael Babula has taken enormous strides to get to where he is now with his campaign and has clearly developed issues that are worth speaking about. He needs people to listen, especially you, so vote for Michael Babula for Congress in the 4th District of Maryland.