President Obama officially receives a vote of no confidence this week by investors around the world. How can a historic spending bill result in a 12 year low in the stock market? Unless investors and money “Zars” know something we average Americans don’t.
Obama Declares War on Investors, Entrepreneurs, Businesses, And More
By Larry Kudlow Let me be very clear on the economics of President Obama’s State of the Union speech and his budget. He is declaring war on investors, entrepreneurs, small businesses, large corporations, and private-equity and venture-capital funds. Raising the marginal tax rate on successful earners, capital, dividends, and all the private funds is a function of Obama’s left-wing social vision, and a repudiation of his economic-recovery statements. Ditto for his sweeping government-planning-and-spending program, which will wind up raising federal outlays as a share of GDP to at least 30 percent, if not more, over the next 10 years... (http://kudlow.com/)
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3 comments:
War language? Really?
I'm kind of done with the hyperbole that goes flying around between the political scenes. People need to find another way to use the english language instead of this tired diction. . .
Anyway. It is rather frustrating to me that Obama comes out with his bills and economic agenda that (as far as economic recovery) is not that much of a contrast from Bush's efforts, and people start screaming socialism. Look, I didn't vote for the guy, but now that he is in office, give him a fair shake. I was told the other day that "every time that man says one thing, he always does another!" Since when? He's been in office little more than a month! Give the economy and everything else time to react to his style of governing and then let's make our judgments.
As for his economic plans in general, my impression is that he thinks we need to "spend money to make money." Well. . .yes and no. I can see that if you're making investments in which you are rather confident of return, etc. But you can't craft an enormous spending bill, much of which has been widely criticized as full of pet spending projects, call it an 'investment package,' and expect it to behave like one. Obama accuses, albeit tactfully, that we have all been spending money we didn't have to support a lifestyle that is beyond our means. Too true. Now, isn't he spending money that any economist will tell you we don't have to build nice bridges, roads, schools? I am a firm believer that we need better schools where better schools are needed. However, spending money on cosmetic town and city projects is not going to make us profitable again. And doesn't THAT sound a little bit like the government is living beyond its means? Something just doesn't add up to me here.
Did you write this on your own?
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