pepperman
Distinguished
MU_Engineer :
No, it's not. I can answer it in two words: "hell no."
He probably has already caused more problems that he has"inherited." The economy started to tank right around the time when Obama won the Democrats' nomination. Look at a graph of the DJIA over the past 18 months and you'll see it drop straight down in October 2008 when it looked likely that Obama would win. People know he's a statist and were worried sick about what he would do, and reacted accordingly. Bush screwed up with signing TARP into law, but Obama did far worse with his bailouts since they were far bigger.
Right from the moment of taking charge of the President’s office, he along with his team has been working tirelessly to sort out the major problems that the country has been facing- how to pay back his backers (unions, ACORN, etc.), how to get that pesky Fox network to fall in line, how to get his tax-dodging buddies out of trouble, how to discredit any of his opponents just for opposing him (the answer to that one was to call them all racist), and how to further expand the government's power. He is also laying a firm foundation to have a strong bureaucratic growth in future, which would be beneficial for no Americans.
Let's look at that:
1. He's doing the exact wrong things. Tariffs, bailouts, tax hikes, and massive government spending are the wrong way to go. FDR tried this and almost every analysis of FDR's actions say that he prolonged the Great Depression by taking such action. For being such a supposedly scholarly and intelligent guy, Obama is sure being stupid here.
2. The proper solution is to let the people who took the huge risks in making and taking shady mortgages take it on the chin- no bailouts, no nothing. Let them fail and go bankrupt. Anything else rewards the kind of behavior that put us in this situation in the first place and we WILL see this same thing happen again.
3. Again, he is going exactly in the wrong direction. He is completely rebuilding the US economy to be a subsidiary of the government, and we all know how well that works out. Look at any other command economy, such as the former Eastern Bloc states, North Korea, and Cuba and tell me how well that worked out.
Obama narrowly won and was largely supported by people largely clustered in a few areas of the country. Look at the vote totals and look at any election map that breaks the results down by county and this becomes painfully apparent.
Crisis, shmisis. The only crisis we're in is that the government spent waaaaaay too much (apologies to Mike Reagan) and we're so far in debt that it's not even funny any more.
Actually Obama has inherited an awfully messy situation, with almost ‘$1.3 trillion deficit’, two wars, unemployment rising to an alarming rate and the crisis of the bank systems.
He probably has already caused more problems that he has"inherited." The economy started to tank right around the time when Obama won the Democrats' nomination. Look at a graph of the DJIA over the past 18 months and you'll see it drop straight down in October 2008 when it looked likely that Obama would win. People know he's a statist and were worried sick about what he would do, and reacted accordingly. Bush screwed up with signing TARP into law, but Obama did far worse with his bailouts since they were far bigger.
Right from the moment of taking charge of the President’s office, he along with his team has been working tirelessly to sort out the major problems that the country has been facing, as well as laying a firm foundation to have a strong economic growth in future, which would be beneficial for all Americans.
Right from the moment of taking charge of the President’s office, he along with his team has been working tirelessly to sort out the major problems that the country has been facing- how to pay back his backers (unions, ACORN, etc.), how to get that pesky Fox network to fall in line, how to get his tax-dodging buddies out of trouble, how to discredit any of his opponents just for opposing him (the answer to that one was to call them all racist), and how to further expand the government's power. He is also laying a firm foundation to have a strong bureaucratic growth in future, which would be beneficial for no Americans.
The three step solution that he suggests for the stablilisation of US is as follows
1. Bringing the economy back on track
2. Finding out a proper solution to fight the housing and financial crisis
3. A complete rebuilding of the US economy on a firm and sustainable foundation.
Let's look at that:
1. He's doing the exact wrong things. Tariffs, bailouts, tax hikes, and massive government spending are the wrong way to go. FDR tried this and almost every analysis of FDR's actions say that he prolonged the Great Depression by taking such action. For being such a supposedly scholarly and intelligent guy, Obama is sure being stupid here.
2. The proper solution is to let the people who took the huge risks in making and taking shady mortgages take it on the chin- no bailouts, no nothing. Let them fail and go bankrupt. Anything else rewards the kind of behavior that put us in this situation in the first place and we WILL see this same thing happen again.
3. Again, he is going exactly in the wrong direction. He is completely rebuilding the US economy to be a subsidiary of the government, and we all know how well that works out. Look at any other command economy, such as the former Eastern Bloc states, North Korea, and Cuba and tell me how well that worked out.
The Obama administration has been widely supported by people all over the country, including the leading business men like rod aycox , CEO of Select Management Resources, in his efforts to bring back the economic stability of US.
Obama narrowly won and was largely supported by people largely clustered in a few areas of the country. Look at the vote totals and look at any election map that breaks the results down by county and this becomes painfully apparent.
Many experts say that Obama’s initiatives will be highly beneficial for US in the long run and would give the country stability and save it from the crisis that it is undergoing these days.
Crisis, shmisis. The only crisis we're in is that the government spent waaaaaay too much (apologies to Mike Reagan) and we're so far in debt that it's not even funny any more.
Oh boy… where to begin. First of all, I would like to see the sources that led you to those assertions (especially those pertaining to FDR’s ineffectiveness). I am also curious as to whether or not you have ever taken an economics class. If you have (or at least if you had paid attention), you would know that the economy goes through cycles of expansion and recession. The economy was already on the downturn when Obama was nominated (in fact, quite a bit before) so the initial recession cannot be attributed to him.
Next, we can talk about national debt. When Bush took office (or thereabouts, the closest date I could find was for 9/7/00) the government had a budget surplus and a national debt of approx. 5.6 trillion dollars. When he left, it was approx. 9.6 trillion dollars. As for the bailouts; in short they were necessary. I agree with you entirely that I don’t like my money going to the companies whose CEOs and board members made financially unsound decisions that compromised their businesses. However, looking at the bigger picture, were we to let them fail, imagine all of the employees who were employed by those companies, now without a job, bogging down the welfare system, increasing our taxes, and probably by a greater amount than the bailouts.
I now have two words I would like to type: Patriot Act. This amendment was the Bush Administration’s answer to terrorism on the home front. Interesting, the powers the law have given the government hasn’t once been used to apprehend a terrorist; however there are many incidents where they have been used to catch illegal drug users/dealers. They also allow the government to monitor my library checkout list, as well as a fair amount of my internet usage. Under the Bush Administration, more regulations (laws) affecting us, the citizens of the United States, were enacted than most other “conservative” or “liberal” presidents (I use quotes around conservative because I do not believe that Bush is a true conservative for the above-mentioned reasons, and because of this, I place “liberal” in quotes as well).
You stated that “He [Obama, or at least I assume] is completely rebuilding the US economy to be a subsidiary of the government, and we all know how well that works out. Look at any other command economy, such as the former Eastern Bloc states, North Korea, and Cuba and tell me how well that worked out.” Let’s first clear up some possible confusion regarding socialism vs. communism.
Communism, very simply put, is a society where one is equal with his peers, no matter how hard he works, he doesn’t receive any more than his neighbore, and I feel you believe that this is socialism. There has never been a nation in recorded history that has been a purely communistic society, but the closest thing we have to it was the Native American Indian tribes, but that’s another topic.
Socialism, on the other hand, also very simply put, is where the government owns all of the businesses (companies, stores, etc.). We need look no further than our North and our East to see these nations. Most European nations have been of the socialist nature since the end of WWII. They needed to do this in order to pull them out of the terrible depression they were in (wow, sounds a bit familiar, huh?). Granted, we are not in as terrible state as they were, but we are also not doing an entire governmental reform.