did obama will slowdown the economic meltdown?
By peercc
@peercc (332)
India
4 responses
@piasabird (1737)
• United States
27 Jun 09
NOPE! NO! HE seems to be doing everything in his power to NOT fix it. The Cap and Trade energy bill passed by a mere 7 votes in the House of Representatives last night. They vote on it in the Senate this fall. The price of everything will be going up. It will put small farmers out of business and cause the loss of a lot jobs.
It's going to be a very cold winter for a lot of poor families in America but the Obamas will be nice and toasty warm in the White House and it'll be on the taxpayer's dime!
@heathcliff (1415)
• United States
27 Jun 09
Thanks to Reagan there are no more small farmers. (Okay that's an exaggeration, but noone in Washington, NOONE cares about the farmers!)
This energy bill only barely passed because Big Business special interests are whining in their Congressmen's ears. Apparently they've buffaloed you too. They are so afraid they will not be able to pass the minimal costs onto the consumers that they are in paranoia-mode. Heaven forbid a company should make a profit of only 1% instead of 10% for two years while they improve the quality of their emissions regulation machinery. You're right, jobs may be lost, but only because these greed corporations may try to cut personnel to keep their gaudy profits. In the meantime, the bill creates jobs by creating opportunities for the construction and mechanical personnel who will oversee technical improvements and government employment for inspectors.
In the end, every President has stayed "nice and toasty warm" at the taxpayer's expense, but at least THIS President won't be sharing the situation with fat-cat Big Business bosses, feasting off incentives, tax breaks and kickbacks at the tax-payers expense.
@heathcliff (1415)
• United States
28 Jun 09
Since Socialism is all that stands between us and either Communism, Fascism or Monopolistic Business domination, yes. Many of those who think they are not, are in denial of Socialism's scope, the rest are terribly naive or completely evil.
@stacyv81 (5903)
• United States
27 Jun 09
um...he stalled it a bit by giving away all of this money, but it is gonna come from somewhere, and I bet I know where....the taxpayers, he has already spent more in less than a year than any other president, so....I can say that I am thinking things arent going to be looking up very soon.
@heathcliff (1415)
• United States
27 Jun 09
"he has already spent more in less than a year than any other president"
Pure propaganda! (At this point.)
Yes, he proposed a massive budget, most of it inherited, let's rememeber, but he spent the money GW provided before leaving office. He may yet end up having the biggest expenditure year ever, but it is not true yet. Certainly it can not all be blamed on him anyway. Talk to your Congressmen.
@heathcliff (1415)
• United States
28 Jun 09
I didn't say he inherited it from Bush in particular. The entire history of the country up to this point has created our spending situation. Politicians on both sides of the aisle have their favorite programs that they refuse to cut. I was just commenting that you cannot lay all that on Obama. But, typical of a "basher", you heard (in this case, read) what you wanted to hear and attacked.
@piasabird (1737)
• United States
28 Jun 09
Your "he inherited it from Bush" rhetoric is really going to get tiresome. In fact I am already tired of it. 
Bush had 9-11 and two wars going on at the start of his eight years.
The National Debt stood at $10.6-trillon on the day Barack Obama took office. But if his budget projections are accurate, he’ll run up nearly as much government debt in four years as President Bush did in eight. http://www.cbsnews.com/blogs/2009/03/17/politics/politicalhotsheet/entry4872310.shtml
Bush had 9-11 and two wars going on at the start of his eight years.
The National Debt stood at $10.6-trillon on the day Barack Obama took office. But if his budget projections are accurate, he’ll run up nearly as much government debt in four years as President Bush did in eight. http://www.cbsnews.com/blogs/2009/03/17/politics/politicalhotsheet/entry4872310.shtml @heathcliff (1415)
• United States
27 Jun 09
First of all, don't believe the hype of economic meltdown. A few major companies made bad decisions and investors panicked creating the slowdown we are in. Only more panic will turn this situation into an unstable one. Corporations that have been padding their bottom lines with tax breaks and corporate kickbacks without translating any profits into lower prices or higher wages are now running scared. They will try to spook the average consumer into thinking they cannot function at these lower profit levels, but they will continue to pay their executives more and more. Only the federal government has the resources and desire to drive employment and spending. There is a direct relationship between government spending and GDP, creating a bigger tax base that turns around to pay for the increased spending. Bloated corporations missing out on their billion dollar profits (but still making money) will try to influence voters and legislators with typical influence group pressure.
Secondly, President Obama doesn't have alot to do with it. He will follow the best economic advice he can get (advice far superior to anyone's on MyLot) and hope the general public doesn't panic. We control how this will play out.
@coolcoder (2018)
• United States
27 Jun 09
He could help slow it, but he won't. If he did, he wouldn't be able to implement his radical socialist agenda, something that he's wanted to do since the very first days of his political career.Instead of the economy recovering, we might just be heading for another depression.
@heathcliff (1415)
• United States
27 Jun 09
"radical socialist agenda"? Affordable health care with no one turned away, better schools, higher wages, direct creation of new jobs, and the stupid dream of passing a decent environment onto the people of the 22nd Century. These are the radical things you speak of, I guess. As opposed to what: letting businesses operate without any oversight. Cutting government spending except to YOUR favorite programs.
A panicky public and greedy businesses are all that can create a depression and if they ever do again, you better pray there are some Socialists around or your choices become Communism (workers rising up in a class war) or Fascism (a person or party assuming complete control).
