I do not think it is Obama’s fault alone, He is just the latest “face”.
He has an enormous Federal and State Government system running 24 hours a day,constantly striving to “help” us, that needs to be kept employed.
Until the day the entire system is significantly downsized things will work less and less productively.
I find it interesting to listen to completely ignorant or deceitful goverment officials , especially in the Republican party, talk of “tax reform” that is better or fairer but revenue neutral.
They are either fools or have concluded we voters are simply too uninformed to worry about.
Neutral amounts of revenue will solve nothing.
The Government maw will continue to consume our National productivity at its present unsupportable pace,just from different pockets.
The sheer size and scope of government cannot continue, but while the officials wax on about the fantasy of Global Warming and its dangers (maybe) in 100 years they are utterly destroying our ability to generate the actual wealth needed to ensure and improve peoples lives. When we tire of that there will be another more urgent distraction.
Detroit is just an early example of what portends. ( the bankruptcy if you are not paying attention )
Officials bribed the voters for 50 years with promises and rewards that the voters would eventually have to pay for themselves, until they can’t anymore.
So now the folks who voted for the promisers, have not only a disaster, they are going to lose all or part of that which was promised.
Of course not everyone will lose.
Many already “got theirs”.
You see it was all Ponzi scheme.
The Government its the largest “Ponzi” scheme ever, the suckers just haven’t found out yet.
Voters still can’t seem to grasp that the “GOVERNMENT” is them, and has no money other than what it takes from it’s citizens.
What ever the Government “promises” you,you will have to pay for after the Government takes it’s rakeoff.
Thanks for your vote, more promises next election, you can trust me!
I think that the government is becoming too involved. When the stock market crashed in 1929, and the unemployment peaked at 9%, and over the next months it dropped to about 6% in June 1930. That’s when the government started to interact, the signed the Smoot-Hawley Tarrif Act into law on June 17th 1930, what it did was restricted imports into the United States so that more of them would would be made here. Hoover was informed that it would not work, but he did it anyway. Within the next 5 months we had double digit unemployment and it stayed at double digit throughout the 1930’s. But then FDR came in, he put in the Nation Industrial Recovery act, the Agriculture Adjustment Act and the Wagner Act. Even with all the government intervention, unemployment still remained in double digits. Is government intervention a bad idea when it comes to fixing a bad economy?
I do not think it is Obama’s fault alone, He is just the latest “face”.
It is good to see @Grand-Vizier admitting that this is not Obama’s fault 100%. I am very surprised Gary, that you are willing to hold Republicans accountable for their overspending as well. Most Republicans refuse to admit that Republicans are responsible for this as must as Democrats. I think Republicans and Democrats are both responsible for spending too much money, but I think Democrats are willing to spend when it comes to helping the people.
@devilcon18 The government has to get involved when the economy is struggling. Most Republicans claim we can just rely on the private sector and capitalism to fix the markets and unemployment rate, but the fact of that matter is that that will take a huge tole on the poorest in society. We have to protect people, as well as fix the economy. Above you list when government got involved, but you forget to mention that government intervention takes time. For example, the stimulus bill is just starting to affect the economy now. You see unemployment starting to drop, the Stock Market is hitting new highs, all thanks to the bold moves of the Obama Administration.
It will take decades to fix what our government has created over the years. Government is not only capable of fixing problems, they also create problems. Which is why we the people need to make sure they FIX the problems right now, not CREATE more as they have in the past.
The entire premise that the Government can FIX problems is WRONG!
Stossel’s book “No They Can’t” is on point.
Politicians and Bureaucrats have absolutely no Idea how to “Fix” the economy.
We don’t have to “help” people other than provide a framework of laws to provide safety, control the borders, defend the country,provide the things specified in the Constitution and Bill of Rights.
Without exception every attempt to “help” the economy has been a disaster.
Most of the things the Government does to “help” is trying to correct the unintended consequences of the last thing they did to help that was also a disaster.
The Government IS the problem in about every case.
Every crash since and including the Great depression has been largely or entirely caused by Government blunders.
The stimulus bill is going IS going to take effect. The result over future years of printing all that money is going to be unimaginable.
The Treasury has purchased over $6,000,000 000,000 worth of bonds.
Who do you think they can sell them too. How do you think they can be repaid?
They are issuing $85,000,000,000 more each month.
Of course the stock market is going up,where else is the money to go?
Is unemployment going down?
The housing market slowed this month.
We haven’t even started paying for Obamacare.
It was just an example of when the government did get involved. And, yes I did leave out the the part where they didn’t get involved.
But as a lot of economists put it, the stimulus did fail, and the only reason why the stock markets are high is because of quantitative easing. I only see unemployment dropping very very slowly, there has never been a time where it has significantly increased at once in this administration. Plus the debt? Unemployment can go down, but this debt is really going to hurt us. Besides, when you look at Texas and realize that more than 50% of the jobs created in the last 5 years were under Rick Perry.
When talking about the economy and fiscal policies, you have to go to the root, the apex, the overall directors: the Federal Reserve. Planned monetary and fiscal policies counteract human nature. Austrian thinkers have scripted this scenario long before now. Obama is continuing the Keynesian lineage with his policies instead of listening to the Peter Schiffs and Ron Pauls on this subject.
@devilcon18 I think both parties have added on to the deficit, but the democrats have grown the deficit at a much higher rate. I do believe that some government involvement is good. It is all about finding the balance between appropriate involvement and private sector freedom. Do you think that deregulation in the Clinton years led to the financial crisis?
We are all (voting citizens) responsible. We know our representatives stopped representing us a long time ago. We keep electing the same people over and over again based on false promises. We fail to hold them accountable. Then, we complain about them when we plainly see they have fallen to the special interests, but we continue to elect them. We listen to the media and the Hollywood crew and are too easily swayed by their smoke and mirrors. Then, we reelect them based on the same false promises.
We have lost our sense of pride, civic duty, and patriotism.
Social Programs are ruining the nation. Why work?
According to the census, bls, and OMB only 85M people contribute revenue to the Federal coffers via taxes. That is 37% of the working age citizenry (18-65). That means 37% or 27% of the total population supports the entire population–plus other programs, foreign aid, and interests payments.
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