Let's not forget Obama's $787,000,000,000.00 "The American Recovery and Reinvestment Act of 2009". According to his White House’s Council of Economic Advisers we would have been better off writing a check for $100,000.00 to everyone on unemployment.
I agree that they probably do less damage on vacation. There's only a few ideas in Washington, anyway. We've tried them, and they haven't worked.
Some want stimulus. A trillion dollars later, plus 99 weeks of unemployment bennies and...nothing.
Some want higher taxes on the high earners. We had higher taxes on that group before the Bush tax cuts, and if you remember back, the economy was weak back then. That was an argument for the Bush tax cuts.
Some want to lower taxes on the high earners. A nice idea for some of us, but unfortunately the Bush tax cuts haven't done a thing for the economy. Put or keep more investment capital in private hands, and they invest. But sadly, not here.
No one in DC is willing to look at trade policy, because anything they do will cause inflation, which, coupled with the recession, is what they like to call "stagflation"... which means, to incumbents up for re-election, YOU LOSE.
Neither team did or will make any real effort to cut the debt. It was all a sham. With a Federal budget that is 25% of the GDP, any significant cuts would worsen the recession dramatically. Remember, that 25% is spent, then spent again and again... every time counts as a contributor to GDP. The Federal Budget is the engine of this economy. It certainly isn't all the stuff we produce. The cuts were just slowing down projected growth... in other words, nothing real.
Meanwhile, the Fed is propping up the housing market by keeping interest rates low. This isn't to stimulate anything. This is because if rates rise, mortgage rates will rise, housing prices will drop, foreclosures will go through the roof, banks will fail, the money supply will implode, and the real problems will start. Of course all that is because Congress and the Fed, l;obbied by the banks, created the housing crisis in the first place. But by keeping the Federal funds rates low, they keep savings rates low, because interest on savings is low. And at the same time devalue the currency. So in effect people have less purchasing power, and save less, so there is less investment capital. They also see their retirement nest egg become less valuable, which means that most will be much more dependent on social security and medicare. Except those are going to be in deep yogurt. It's all a huge vicious cycle that arises when socialists try to tweak a free market and make it better. It never makes it better. It makes it what it is today.
Let them go on vacation. Every problem we have can be traced right back to one source: Washington. They've done plenty.
It's about to get much worse..
Obama is going around congress now because the Dream act didn't pass. It's now going to be a case by case on which illegal gets deported from this country.
Obama has lost a ton of voters, and he needs to find votes somewhere...enter the Hispanics in this country.
Obama doesn't like being told "No" whether it's from congress, or the American people. Once again he's going to go around the voice of the American people.
So technically you were right Mark, he was not as bad...he is worse which is not the same.Quote:
I chuckled at the time thinking there was no way he could be as bad as Carter
What difference would it make if they were back to work? They're a great part of the reason that things are the way they are in the first place. From a Canadians point of view, you need a "leader" that isn't prepared to put the country in the ditch. My humble opinion.