FAIL: Obama will fix the economy, end the housing crisis, create jobs
Posted by Michael at 8/28/2008 8:59 AM 
Categories: Domestic Issues, Policy Arguments, Not Convincing
Categories: Domestic Issues, Policy Arguments, Not Convincing
Okay, let's look at how this affects me. Why me? Because it's my vote you're trying to get.
The "economy", in the abstract, affects me largely by determining my buying power (i.e. how much a movie or a gallon of milk costs). And despite all the blathering you hear from the punditry, the President really has very little direct control over any of it. The President appoints a guy to run the Federal Reserve, which has some impact on interest rates. The President has some input over budget allocation, tax policies, and international trade agreements, but his actual authority over such matters is substantially shared with Congress.
In the end, none of these possible actions directly affect my economic situation (except for taxes, which I'll get to later), and the effects that these actions will have is almost completely unknown. What effect will a 0.5% drop in prime rate have on my ability to buy a movie ticket? I don't know, you don't know, Obama and McCain don't know, Alan Greenspan and Ben Bernanke don't know. The microeconomic effects of federal fiscal policy is pretty much an ongoing experiment-in-progress.
So the bottom line is, when it comes to the economy, the President has very few proverbial knobs to turn, he lacks the ability to turn them very far without Congress, and nobody has any real clue what any of the knobs are connected to. Do yourself a favor and avoid this line of argument in serious political discussions.
The "economy", in the abstract, affects me largely by determining my buying power (i.e. how much a movie or a gallon of milk costs). And despite all the blathering you hear from the punditry, the President really has very little direct control over any of it. The President appoints a guy to run the Federal Reserve, which has some impact on interest rates. The President has some input over budget allocation, tax policies, and international trade agreements, but his actual authority over such matters is substantially shared with Congress.
In the end, none of these possible actions directly affect my economic situation (except for taxes, which I'll get to later), and the effects that these actions will have is almost completely unknown. What effect will a 0.5% drop in prime rate have on my ability to buy a movie ticket? I don't know, you don't know, Obama and McCain don't know, Alan Greenspan and Ben Bernanke don't know. The microeconomic effects of federal fiscal policy is pretty much an ongoing experiment-in-progress.
So the bottom line is, when it comes to the economy, the President has very few proverbial knobs to turn, he lacks the ability to turn them very far without Congress, and nobody has any real clue what any of the knobs are connected to. Do yourself a favor and avoid this line of argument in serious political discussions.
Lets just hope that with his leadership, our problem will be solve.
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The President has some input over budget allocation, tax policies, and international trade agreements, but his actual authority over such matters is substantially shared with Congress.
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How quickly YOU forget. One of the most telling facts about the mortgage crisis was a RAND Corporation study which found that in the bankruptcies which caused Americans to default on mortgages and lose their homes, 60 percent were driven by health care costs. Also 75% of those who declare bankruptcy for medical reasons HAD INSURANCE when they got sick. If we don’t solve the health care crisis driving people into bankruptcies, we won’t solve the defaulting on mortgages and people losing their homes.
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Yeah, and no oversized American flag flying all over the site. And perhaps a few pictures of our dear leader, Rudolph William Louis "Rudy" Giuliani. You know, the guy who's all of a sudden all about the rural family values, while condemning the smarty-pants big city folk and their cross-dressing, divorcing and re-marrying, gay-tollerating ways. This is downright unpatriotical. In fact, I want to see everyone flying the flag or go to jail, your choice
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More, as promised, on Senator Joe Biden (why should Sarah Palin get all the coverage?). Remember, you read it here first: on September 11 this blog reported a mounting backlash from Catholic bishops against Biden, Barack Obama’s “Catholic” pro-abortion running mate. At that time I estimated eight bishops had come out to denounce Biden; the total is now 55. Beyond that, Biden is being trashed across every state of the Union by Catholic newspapers, TV and radio stations, and blogs. It is a tsunami of rejection.
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This is really a very informative blog nice content also.It makes one think and look the other side of the story Thanks for sharing your views on the topic.
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This is really a very informative blog nice content also.It makes one think and look the other side of the story Thanks for sharing your views on the topic.
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It is realized that insurance is not a fun topic to discuss or think about, yet it is important and serves to protect your financial future. It is comforting to think that nothing will ever happen to you and that you are invincible. But odds are that you are likely to get into a car accident or have some type of health problem at some point in your life,
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your article is so informative and interesting. nice shared.
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How Obama would fix the economy? The Democratic presidential candidate supports extending unemployment benefits, making health coverage
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I don't know, you don't know, Obama and McCain don't know, Alan Greenspan and Ben Bernanke don't know. The microeconomic effects of federal fiscal policy is pretty much an ongoing experiment-in-progress.
Reply to this
The President has some input over budget allocation, tax policies, and international trade agreements, but his actual authority over such matters is substantially shared with Congress.
Reply to this
Do yourself a favor and avoid this line of argument in serious political discussions.
Reply to this
The microeconomic effects of federal fiscal policy is pretty much an ongoing experiment-in-progress.
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The President appoints a guy to run the Federal Reserve, which has some impact on interest rates.
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Every presidential candidate, actually every political candidate promises to do exactly what the American people want to hear! I do think President Obama has done a fair job in improving the economy, of course he really could only go up from where we were at! I'm hoping that the real estate market comes back up or I'll lose my job as an agent!
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