Economy
Next Entries »Will Obama’s Stimulus Help in Time? The CBO Does Not Think So
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Creating further problems for Obama’s stimulus proposal, the non-partisan Congressional Budget Office has concluded that 1/4, or $355 billion of Obama’s proposed $825 billion discretionary stimulus plan, will not touch the economy before 2011 (http://www.bloomberg.com/apps/news?pid=20601087&sid=aJAoR5GECKWo&refer=home). I cannot comment on whether this report is true, but it exposes one of the problems of relying on government [...]
The Same Democrats Who Protected Fannie and Freddie are Now in Control
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According to former George W. Bush advisor Karl Rove, Democrats resisted reforming Fannie Mae and Freddie Mac until it was too late. See President Bush Tried to Rein In Fan and Fred (Wall Street Journal, 1/8/09). See also Michael Barone’s Democrats Were Wrong on Fannie Mae and Freddie Mac (U.S. News & World Report, 10/06/08). Obviously Rove [...]
Stimulus: Stampede of the Pigs
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In my recent post, Stimulus: A Cheap Thrill or Lasting Satisfaction? (12/21/08), I warn that one of the many pitfalls of this plan will be that “politicians will tag on wasteful programs labelling them ’stimulus.’” Well, according to the Washington Post print edition, the Democrats are already throwing in the pork, especially, as dumb [...]
Impose a Modest Gasoline Tax Now (Yes, I Hate to Say It . . .)
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One of the strange things about oil is that when it is cheap, new problems arise. I fully support the notion that it is in our national security interest to promote alternatives to oil use. As we know, our dependence on energy imported from dangerous areas and unfriendly governments is a serious national security risk.
The big [...]
Southern Comfort, Foreign Automotive Style
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For a better understanding of why certain Republicans, who recently shot down the Senate auto bailout package, wanted employment standards for the Big Three (GM, Ford, and Chrysler) to mimic those of foreign auto-maker operating in the U.S., this article is a must read: http://www.newsweek.com/id/174337.
These companies operate profitably; therefore, there is a way with [...]
Stimulus: A Cheap Thrill or Lasting Satisfaction?
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Just as with bailouts, the word out there is that we are getting major stimulus. This is supported by most Americans, as well as advocated by the brainy Rubin/Summers Obama economic team. Numbers being discussed range from $750 billion to $1 trillion and beyond. Personally, since this is all “free money,” I support a [...]
Bail Me Out! — But Should I Really Get a Handout?
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Bailout mania has hit America — everybody wants the government to come in and save them. But does this make any sense? As an aside, before I delve into certain overriding issues of bailout, the fact that both Republicans and Democrats can come up with nothing intrinsically better to help our economy than throw [...]
My First Post — Comment about the Purpose of Capitalism and Free Markets
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There has been so much going on in the world lately, with the election of Barack Obama to the world-wide economic meltdown, it is hard to find a place where to begin! Rather than go backwards and rehash all the current discussions, I will instead start to post looking forward from here.
There is a [...]
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