Quote:
Originally Posted by Schneed10
I take MAJOR umbrage with this kind of reasoning - that a democratic president is better for the economy. This kind of pathetic, rudimentary analysis makes me feel ashamed of my fellow financial and economic analysts who put that crap out.
These morons simply take a look at GDP growth by year and line that up against the president who was in office at the time.
Well guess what, economic policies put in place by the president (but moreso the chairman of the Federal Reserve) take time to generate growth. You have certain policies/decisions that can act as an immediate shot in the arm, like an economic stimulus check. But then there are policies that take much longer to spur real wage and job growth because the policies are centered around encouraging investment. For example, lower income tax rates, lower corporate tax rates, expanded free trade agreements, flexible monetary policy, etcetera. All of these things take time to take hold.
Reagan's policies contributed to the growth we saw in the early 90's just as Clinton was taking office. Clinton's NAFTA policy had a positive impact on our economy from 2003-2006 while dumbass was in office.
Managing the economy is not a short term endeavor by any means, and trying to attribute economic growth to the president in office at the time is laughable and fundamentally wrong.
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Points taken. I understand that a President can lay out policies that can impact the country many years down the line. With that same frame of thought is it too farfetched to believe that somebody like Obama in office could better counter act the impact that "dumbass" had on the economy (primarily because of Iraq)?
Here is my point of view. The president sent out a stimulus check in an effort to boost the economy. Most, not all, thought that it was a pretty good idea. Even Obama was talking about doing something similar if he got into office.
Right now we have hundreds of thousands of Troops in Iraq that getting paid Separation pay and hazardous duty pay in conjunction with their base pay. On top of that, none of them are paying taxes while they are in the Combat zone. I am not hating because they do deserve this while they are there.
When these guys get back they usually have some extra cash to stimulate the economy with themselves. The problem is that they haven't been spending in the U.S. for an entire year, nor have they been paying taxes. In essence we have been forking out more money than necessary to finance something that is a heavier burden on the economy. I am not even going to go into detail about the .5 mil life insurance policies that each of the deceased families' collect.
We need to bring most of our Troops back and put some spenders and tax payers back on American soil. While both candidates say that they believe that we should start downsizing in Iraq. I belive that Obama has a bit more sense of urgency about it.
In no way am I saying that this by itself will fix our economy, but it will help.