Study after study over the past several decades has shown how countries that spend more produce less, while nations that tax less produce more. Obama is doing it wrong on both counts.
Here is another good article... less angry... less "President Robin Hood"... more educational.
The budget that President Obama proposed on Thursday is nothing less than an attempt to end a three-decade era of economic policy dominated by the ideas of Ronald Reagan and his supporters.
Thoughts?
5 comments:
I think that there are no comments because no one knows. I read these articles and I don't have an opinion. How are we to have an opinion on something we've never faced. We have to hope that President Obama (I hated how the article said Mr. Obama, he is our president) plan can fix what we've gotten into
Good point. I've never faced anything like this. The last time the DOW fell as low as it did today, I was on a skateboard listening to Screeching Weasel. It hasn't touched me, and hopefully (to use your approach) it won't. In fact, I may benefit from some of Obama's stimulus policies. I'm a poor college student. I could use some financial aid and affordable health care. But I aim to one day be not poor. And when I am I should be free to keep my money, and pick a doctor who's office doesn't remind me of the DMV.
The way I understand it, Obama's universal healthcare plan does not take away your right to choose your provider, specifically if you are already covered by your employer. I think he genuinely wants all people to be covered, and this is the best way he can see to go about it. I look at so many of my friends who won't go see a doctor when they have pneumonia, kidney stones, etc. because they simply cannot afford the insurance or the hospital bills. I look at my parents who just lost their medical insurance when my stepdad got laid off, and think that what the president is doing is a good thing.
I think your comment about benefiting from the stimulus/spending now as a poor student hits on a very important point. We will gladly accept government money when times are tough and you need it. Why is it then that we get up in arms about getting taxed more when we are in a more advantaged position? This economy is not going to recover if people don't have money to pump back into it.
I admit that the amount of money that this is going to cost is disconcerting, however, the last 5-10 years of fiscal irresponsibility and financial deregulation have got us into a serious rut that doesn't provide any easy outs. Obama has been candid about the fact that this will not be a quick fix and times are likely to get worse before the economy can pick itself up again. I'm guardedly optimistic, but I hope that he's right and the decisions he is making will have positive long term effects.
in terms of policy I point to the folks that seem to have a good grasp on economics at www.lewrockwell.com/blog
in terms of fiscal friendship quality I miss pool time so so much and I wish we were closer. Hope that happens soon.
Health costs would go down if there weren't so many regulations and lame ass lawsuits.
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