Comment Last Three
September 10, 2010
Take responsibility for your economic actions and your failed business policies. Your ivy college appointees know nothing of the real world and how business works. Admit that you do not know what you do not know.
In your press conference today, you draw a sharp line with congressional Republicans on economic policy and the fate of expiring tax cuts passed under predecessor President George W. Bush. The first thing that Bush did when he was elected was to cut taxes and he had great economic growth during his entire time in office. It was the failed policies of the Democrats at Freddie and Fannie that caused the economic meltdown--banks forced to loan money to people who could not pay their mortgages.
Mr. Obama said he remained strongly opposed to extending tax cuts for wealthy taxpayers when they expire at the end of the year, saying only individuals earning under $250,000 should be given tax relief. With his recent passing of the health care and financial bills, he has raised taxes on everyone.
Republicans have pushed for all the tax cuts to be extended — at least temporarily — and a number of moderate Democrats have broken with Mr. Obama on the issue. GOP leaders say that raising taxes would be the wrong policy as the economy continues to struggle and unemployment is just under 10 percent.
But the president said the political standoff risked saddling middle-class taxpayers with a higher tax burden next year, and urged Republicans to compromise. "Why hold the middle class hostage in order to do something most economists think doesn't make sense?" Mr. Obama told reporters.
Cut spending instead of more spending plans for the unions. Mr. Obama--you are a failed president and are not well versed in economic policy, let alone how to be a leader. Keep reading your messages---nobody is listening nor do they believe anything you say.
We need adults in the White House and in the administration running our country.
December 13, 2009
How does Congress think that our economy works?
Our Congress does not know how a market economy works since they keep printigng money, getting all of us deeper into debt, and push through more and more regulations. Congress does not know how to create jobs if it thinks more government is the answer. Below is a simple example of how the current Congress creates jobs and pays off debt.
It's a slow day in a small Vermont town and streets are deserted. Times are tough, everybody is in debt, and everybody is living on credit. A rich tourist drives through town, stops at the motel, and lays a $100 bill on the desk saying he wants to inspect the rooms upstairs to pick one for the night.
As soon as he walks upstairs, the owner grabs the bill and runs next door to pay his debt to the butcher. The butcher takes the $100 and runs down the street to retire his debt to the pig farmer.
The pig farmer takes the $100 and heads off to pay his bill to his supplier, the Farmer's Co-op.
The guy at the Farmer's Co-op takes the $100 and runs to pay his debt to the local prostitute, who has also been facing hard times and has had to offer her "services" on credit.
The hooker rushes to the hotel and pays off her room bill with the hotel owner. The hotel proprietor then places the $100 back on the counter so the rich traveler will not suspect anything.
At that moment the traveler comes down the stairs, states that the rooms are not satisfactory, picks up the $100 bill and leaves town.
No one produced anything. No one earned anything. However, the whole town is now out of debt and now looks to the future with a lot more optimism.
And that, ladies and gentlemen, is how the United States Government is conducting business today.
October 02, 2008
Senator McCain must oppose the Senate Bailout Bill and come up with a new plan that the House Republicans can pass. In the current form, the Senate Bill is grand larceny of the bank accounts of Americans.
If Senator McCain wants to win the Presidential election, he must expose the "pork" and be a leader on this issue. All businessmen are against this bill. All taxpayers are against this bill. Put the money in the market for "liquidity", but do not bail out the executives who made the bad decisions. Senator McCain--wake up, be forceful and lead on this issue. You are not running for the Senate where you have to get along--you are running for President where you have to lead.
September 16, 2008
The economic condition of the US is a direct result of actions by the US Congress. The Congress and the Bush Administration both wanted more low income individuals as home owners. The Feds and the market created new investment instruments (i.e. hedge funds) to run up the markets and Wall-Street profits.
New programs were established where an individual did not have to put any money down and the margains were lowered. Therefore, with these liberal rules and nothing down scheme, people did not have "any skin in the game" and are just walking from their mortgages. Look at the millions of dollars the senior executives of Freddie and Fannie have made at the investor and tax payer expense!