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oh my

By jfuller05 ·
Tags: Off Topic

This is very interesting. Chances of Obama winning re-election are falling.

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Oh, my.

by boxfiddler Moderator In reply to oh my

Leaving us stuck (presumably) with money-bags Romney. It's a sad day in America....

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It can go either way

by AV . In reply to oh my

There is still a lot of time before the election, but Obama hasn't been able to pull the economy out of the slump with his policies. Maybe Romney can do it. He's not my favorite either, but worth a try. Its not like we have many options.


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my thought too

by jfuller05 In reply to It can go either way

Romney is definitely not my favorite either, but as you said, we don't have many options. Plus, the President is basically powerless without Congress, so I'm not too worried about the Presidential pick. There are a lot of seats up for grabs in congress. That's where the power is at.

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by AV . In reply to my thought too

I can't take another four more years of Obama. He just has no idea how to fix the economy. All I have to do is look around where I live at all the empty buildings that used to be thriving businesses. Its all gone. He's had almost four years in office and I don't see any recovery. Its pure fiction.

Our Congress is even more pitiful. We need new people in Congress that are willing to work together without the political theatre and just concentrate on the problems. Getting rid of the embedded politicians, on both sides, in Congress would be a step in the right direction. The time is now to address our debt problem and reform our entitlement programs, as ugly as that might be. It sure beats ending up like Greece.

Yeah, Congress has the power, but right now all they do is take potshots at each other. Nothing is being addressed.


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No president ever has an idea about how to fix the economy, though.

by AnsuGisalas In reply to Personally

It's the job of the market to clean their own sandbox, and lately they've been more interested in pooping in it, then stealing the government incentives.
Ultimately, this is not the Government's mess to fix. Sure, not repealing the laws that embody hard-learned lessons would help, but that's done with and the price is being paid. The president can also muster the People, by being "inspirational" and whatnot, but in the end, it's the market players who have to shape up. All the government could do is send in the National Guard, and I don't think y'all are quite ready for that.

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The president and the congress cannot change the basic economy

by JamesRL In reply to No president ever has an ...

Stimulus packages and bailouts are temporary measures. When they end, the market will do what the market will do. The government (taxpayers) cannot afford for the government to be interventionalist all the time. Bailing out banks and auto companies may have saved some jobs in the short term, but not the long term. The effect was more psychological than fiscal.

The government can influence the economy but not direct it. Consumer confidence is a far bigger actor in economic matters, and that is what the government can do, is influence consumer confidence. But there are limits to that as well.

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Sorry James, I HAVE to disagree, the legislators have a huge affect

by Deadly Ernest In reply to The president and the con ...

on the economy. The first area where the Federal Congress and the President can have a huge effect is the laws on all the direct and indirect federal taxes paid by businesses. The second area is federal laws that affect employment as they often add an indirect cost to employing people and can even discourage some businesses from employing people. The third is the federal laws on the conduct of business, such as the laws on patents, IP and the like or the laws on how to deal with people. The fourth is the federal laws and agreements on International trade. Fifth are the long term federal economic support activities like the Land Bank etc.

All these can, and do, affect the way businesses operate and if they will be a commercial success as they add significant indirect costs to the running of the business.

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But those are more "Don't"s than "Do"s, aren't they?

by AnsuGisalas In reply to Sorry James, I HAVE to di ...

Government can mess things up, but they can't Fix the way the market is working, can they?
As long as the financial sector is monkeywrenching the economy for short-term profits, helping businesses skip a number of costs won't do much overall. The money irrigation system is shot, that's the big problem, money doesn't flow right, and it's being siphoned at the source.
And in the partisan atmosphere of the One-Two Party system, I don't think anyone can repeal anything simply. There are riders and provisions, and unwanted consequences, and of course, any new bills will need pork to be passed.
That's another shot system.

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Reply top Ansu,

by Deadly Ernest In reply to Sorry James, I HAVE to di ...

There is a lot the government can do to stop the short term profit behaviour. I don't know what the various tax laws are in the USA, but here in Australia we did have past tax laws that actively encouraged businesses to reinvest in their operations as it help reduce their tax liabilities a lot. That's one way.

Another is to amend the existing laws and to ensure future laws do not inhibit business operations or expansion. I can give better examples from the Australian laws than I can the US laws due to familiarity; the the current US laws on IP do work against the consumer and the creator while favoring corporations are one area of US laws.

Example of legislative restrictions affecting business. Small business wants to expand but changes to employment laws makes it almost impossible to fire unsuitable employees, and even then it's very expensive - even when they steal from the business. Other changes include the entitlements for people who are part-time or casual employees for more than a few months. The results are that most small businesses are extremely wary of hiring new staff no matter how much they need to hire staff - the owners end up working longer hours or turning away business due to their inability to handle the extra work load. When the time limits for the casuals and part-timers approach they aren't offered any work for a few months to reset the legislative timers on their work status. This means less work for the people too.

There are numerous such examples within the laws where the legislators can make a difference.

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Influence versus change

by JamesRL In reply to Sorry James, I HAVE to di ...

All businesses say taxes are too high and that the government is impinging on them. Canada dramatically lowered it's corporate tax rates, and at best it has served to slow the loss of businesses, not reverse the trend. Likewise when personal taxes were cut in the late 90s, it didn't mean a huge improvement in the economy.

The government economic levers are really long term. Improving economic infrastructure and creating a more welcoming business environment are not things that happen overnight.

All of these are overshadowed by the rapidity of change in the private sector.

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