There is little anyone in the Federal government can do to reverse short-term economic downturns: the President may select a responsible Federal Reserve Chairman, sign for the so-called “stimulus” packages that may arrive at his office steps courtesy of Congress, and pray—Republicans to the holy trinity and Democrats to all else.
Yet despite the bureaucracy’s futility, “the economy” consistently polls as voters’ number one issue. Not only that, most presidencies are either deliberately or inadvertently judged by how they fared with the economy; consider President Clinton, President Reagan, and even President Franklin Roosevelt. Each of these politicians, considered the best of their generation by their respective parties, took office during a period of economic strife and as a result of executive handiness or more likely luck, saw several years of growth and departed before the next decline.
And because such presidents are rarely judged on their real economic impact—that which takes place ten to twenty years after their service—recent presidents and presidential candidates have begun sacrificing or planning to sacrifice future economic performance in favor of an immediate pay-off. This year’s Democratic and Republican picks are no exception.
Both Senator Obama and Senator McCain supported the 2008 Economic Stimulus Act, even though it heavily borrowed on future growth and failed to address the fundamental trade deficit issue—that the majority of consumer spending from the bill went overseas, the economic stimulation with it. In the role as commander-in-chief, Mr. Obama supports additional tax rebates, windfall profits taxes on oil companies, and the extension of unemployment insurance. Though these policies are likely to find America in greater debt, McCain’s should prove the same. He proposes a gas tax holiday and making President Bush’s tax cuts permanent while miraculously balancing the budget at the same time.
Like most of Mr. Obama’s policies, his economic one is at least rhetorically based on the principle of change. Mr. McCain’s, too, centers on his belief that the federal government has “a responsibility to act.” I would argue just the opposite. Comparing Mr. Bush’s first term to his second, I would support that a neutered executive, loathe make drastic changes, is far superior to a fearless one.
-David Lamb
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the stimulus packages did nothing good. you’re right about that. you’re also right that both these candidates are leading us down the wrong path. why not vote for nader?
“why not vote for nader?”
1. He’s a bad candidate
2. Obama’s a better candidate
3. He’s a racist
[...] America’s Economic Plan: Ebaying our Future [...]
To be able to achieve a successful future you have to be able to visualize it. What I mean by this is in a literal sense is just that. Picture what it will be like from the kind of car you drive to the energy that powers your every day life. Industries that cater to the old way of thinking shouldn’t be bailed out only those business that move in a direction that work to achieving independent stability for the country and the health of its citizens. Getting the system to work a little longer on life support is no solution to a long term problem of what got us this mess in the in the first place. If the government is going to make a difference it needs to invest directly into energy efficient companies with government contracts to build infrastructure and green technologies. Lines need to be drawn in the sand and goals set. What also needs to happen is a grand project that can project a progressive goal. This will elevate the minds of the population that the ship is slowly changing course. The country needs a mental stimulus as well as financial stimulus. You have to break the endless downer news. The old theater news reels were good for transmitting the thoughts of the government as to what was happening. Call it propaganda every bit helps!!
Make a city green and I’m not talking a town in the middle of nowhere, pick the rust belt where they have been hit bad and never seem to get a break. Make a place like this work and the country will be inspired with hope. Talk during campaigns is the help is coming but nothing ever happens. It will put people thinking in the right direction the old saying lead by example, we put other countries back together why not our own. Imagine working in the solar plant making panels for roof to buildings and all electric vehicle plant and a plant that produces wind turbines put all this in one city. The rest will take care of its self the houses the shops the infrastructure. If you wait for the private sector to get off their ass and do something you will wait years for fits and starts. If you look back the auto company’s didn’t want to put seat belts in cars because it would cost to much, nobody even says anything about them anymore. The government has to mandate these changes , hell we own most of these businesses anyway. Kind of gives us a little hand doesn’t it, if the government is going to bank roll everything then maybe we should be bank rolling the way we want to run things. Call it being a governmental CEO–or a Czar I like CEO its more American. Remember what it was like - Wouldn’t it be great to be on top again and actually lead without having to borrow everything. Sorry dreaming again!! Wow I escaped the gloom for a moment. Maybe I can stretch that just a little more.