Thursday, September 2, 2010

A rising tide floats all yachts - Obama, the economy &other boring stuff

Time Magazine: How Barack Obama Became Mr. Unpopular
OK, I voted for Obama and I still believe that he was by far the best choice.
But I'm not happy with EVERYTHING he's done...
Financial reform:  Waste of $ - Should have let the financial institutions fail.  But the Republicans are as guilty as the Democrats in this. It disgusts me to read about those salary's those guys were, and still are pulling down.  And I find it equally disgusting for the Republicans to now blame this on Obama.  They were in there just as deep as the Democrats. 

Auto bailout:  Should have let them fail.  They dug their own grave.  They built Hummers and other monster cars that no sensible people wanted just to make a few quick bucks.  No foresight at all.  The Europeans and Asians ate their lunch.  Paid their exec's exorbitant salary's while they were pi*@#*ing away their investors money.  Let them wallow in their own excrement.
Health insurance:  This was badly needed and getting this passed raises Obama to near god (little "g") like status in my estimation.  I'll gladly debate this with anyone who cares to do so but this was way over due and I know of no logical or defensible arguments against it. 
Budget stimulus:  Waste of $ - Should have spent it on upgrading our horrifically decaying infrastructure.  We're going to become a third world country if we don't greatly increase our spending on maintaining and expanding our own infrastructure (roads, bridges, municipal projects etc. etc.).
And let me ramble on about a little more.  Some, probably a majority, of economists believe that the government has no where near the control of the economy that people seem to think it does.  The economy is more akin to a tree going through the seasons of the year then the vision that most American's seem to have of a lamb being led around by a rope to different pastures, always in the warmth of summer.
And while I DO believe the stimulus $ would have accomplished just as much if it was flushed down the toilet, I also believe that blaming Obama for the current state of the economy is not defensible.  If you want to go down that road Bush should logically carry a large percentage of the blame.  But not doing anything, that is not passing on the budget stimulus measures, would not have been politically viable.  Then the argument would have been that he didn't do anything.  I think he has done way to much.  But it was a no win situation, at least politically speaking, for Obama.
And tax cuts... Wowsa.  What a lame idea.  Where in the world does the present generation get off on even thinking about tax cuts in light of the horrendous debt that we're passing to the next generation?  Regan PROVED that the "rising tide floats all boats" theory is utter and complete B.S.  And neither party can be held exclusively to blame for this catastrophe that we're passing on to the next generation.  And BTW, well over half, around 70% of the national debt was acquired during the Regan administration.
The rich ARE getting richer.  The poor ARE getting poorer.  And our middle class is shrinking.  A country without a strong, viable middle class will become stagnant, unstable and inequitable.  Look at Mexico for an example of this. 
We are the first generation in the history of this country to enjoy a lower standard of living than our parents.  By some respected measurements our standard of living is now 15th in the world.  And it ain't been going up lately.
Prove me wrong...

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