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September/October 2008 Cover


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UMaine Today Magazine


Not Business as Usual
[-
Back to Election 2008-]

Martha Broderick, Senior Lecturer of Business and Commercial Law

Due to the price of heating oil and vehicle fuel, people are spending much less money on and for businesses in Maine. Small and large businesses are shutting down as the cost of operation exceeds revenues. Therefore, this election will be pivotal in addressing the fuel price issue. The elected candidate for president will be handed a sinking economy and rising inflation. As the cost of waging a protracted foreign war hits home, the federal heating assistance that Maine's poor have come to rely on may disappear in the federal sea of red ink. The multiple effects of this federal deficit crisis and our trade deficit may rapidly accelerate the loss of population and businesses for Maine. If we are to develop Maine's economy and hold our population, the federal government, led by our next president, must get it's house in order and reduce spending. If all federal social and financial support for Mainers is reduced any further, we can expect to see more mill closures, more home foreclosures and more school closures. The positions of the two parties are polarized on the issues of how to reduce the federal spending. Let us lead the nation indirectly demanding that our Maine tax dollars be used to support our citizens and their states. Businesses in Maine cannot absorb any further tax increases to pay for needed government programs. The tax and spend attitude of the federal government needs to take a look at the hard choices states like Maine are made to take because we constitutionally require a balance budget. Our next federal leader would do well to remember that what helps our economy at home strengthens our dealings abroad.

Further aid to others should be weighed in the scale with the needs of states like Maine who are tapped out and suffering now.

 

 

 

 

 

UMaine Today Magazine
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The University of Maine
, Orono, Maine 04469
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