Powers and limitations given to those in our government - Essay Example

The idea of checks and balance is pivotal in the democracy that we live in for several reasons. Checks and Balances: a system of granting veto powerto each branch of the government in order to ensure that one does not possess an advantage over another. The legislative and the executive branch have powers that can be vetoed and ensure that no branch of the government does not get too powerful. The judicial branch can use its judicial review to evaluate both branches in order to keep them in check.

Clearly, the oil industry would be drastically affected along with manufacturing and development industry. First and foremost, the legislative along with the executive branch would be heavily involved. The legislative branch would pass legislations to facilitate and address this issue with the collaboration of the President. In this matter, the judicial branch would act last because it serves as a last resort to conflict that occurs within governmentLobbying and interest groups are pinnacle of a force that dictates policies and legislations.

In political markets, the benefits of a policy may not be readily determined. Lobbying is extremely influential as interest groups and lobbyists can push legislation through congress. Lobbyists are strong and organized. Moreover, they have networks that expand in the white house that allows them to give strong message to the public. With the public behind them, officials are induced to pass legislations. As the current president, President Obama can push much vital legislation that can dramatically address this issue.

First and foremost, he can create tax breaks for these corporations in order to facilitate the corporation’s losses. Moreover, he can push legislation that will lower tariffs in oil imports and exports. Furthermore, the logistics industry can get government funding in order to help them in this economic crunch.The Congress can pass hedge bills to facilitate gas and logistic companies. The government can give subsidiary compensation to trucking companies just like they help the farmers. Reducing fuel surcharges to the truckers would tremendously help them also.

Truckers can also deduct unexpected losses from their personal income taxes and businesses which can facilitate the process.Supreme court can use reviews to analyze the regulations passed by Congress in order to evaluate if it is unconstitutional law. It has done that previously with cases such as Brown vs Board of Education and Plessy vs Ferguson. The Supreme Court in essence dictates the assurance of policies that are granted at each level. From my perspective, people would not mind if the government acted beyond their extended powers.

The federal government is a powerful branch and has the power to act beyond the traditional means of their powers in order to stabilize the economy. T President Barack Obama has been urging congress to push a $447 billion stimulus package to address the issue of the mortgage crisis that has plagued the American economy since the recession. A plan to facilitate mortgage refinancing plan in order to rescue the housing market was the focal point for Obama administration. Since October 24th, a strong push by the Federal housing Finance agency is being conducted to let lenders borrow at lower rates.

The evidence is clear as penalties that imposed on high-risk borrowers of up to 2% of the mortgage amount have been diminished or eliminated. Evidently, Americans have witnessed the lowest rates in recent decades due to the fact that homeowners are in scurry to refinance. However, 25% of these homeowners cannot refinance since their mortgage exceeded the value of the home. Since the last crash, Fannie and Freddie were both under the control of the Federal government, a move that had to be conducted in order for the American economy to be stabilized.

Currently, the program has not worked up to its potential as only 894,000 borrowers have conducted refinancing in their mortgages through agency. Although many factors affect the outcome, it is clear that Fannie and Freddie Mac are hindrance towards the market as they continue to enact hefty fees and conditions to their customers. Thus, people will not be upset if the government is trying to help the people, even if goes beyond the traditional means.Works Citedfilibuster., a Republican. "Economic Stimulus - Obama Jobs Bill.

" Times Topics - The New York Times. N.p., n.d. Web. 28 Nov. 2011.