Comments on: It’s time for Obama to stop declaring new recovery plans

By: LeoLambert

LeoLambert — Thu, 02 Dec 2010 12:56:12 +0000

I think it’s hard for Obama to just get a quick result in just 2 years, he needs more time, and all these plans need time to see the results. I truly believe in his heart, he’s trying to get US better. Just that we as citizens should always keep an eyes on him.

By: isogenics

isogenics — Sat, 20 Nov 2010 03:33:58 +0000

Great article that gets to the heart of the problem. We have had enough of programs designed to reward the elite and the special interest groups at the expense of the middle class and small businesses.

By: isagenix

isagenix — Sat, 20 Nov 2010 03:20:49 +0000

American’s are the best in the world at solving problems. The United States Government needs to downsize by about 50%, reduce taxes and let the entrepreneurs get to work.

By: iPlunder

iPlunder — Thu, 09 Sep 2010 15:48:43 +0000

@nbywardslog QE (assuming this stands for quantitative easing) involves the fed buying a wider range of debt instruments when the yield on tbills is close to zero. It has nothing to do with fiscal policy.

By: drewbie

drewbie — Wed, 08 Sep 2010 17:48:17 +0000

Hoover tried doing nothing, and he’s remembered as one of the worst presidents in history.

By: jb914

jb914 — Wed, 08 Sep 2010 14:02:09 +0000

Good article! It’s seems this government hasn’t learned anything from history. Excess government spending and “targeted” stimulus programs haven’t ever been successful at stimulating growth or consumer confidence. Some economist argue that that they actually slow growth and lengthen recovery time; and they keep proposing the same types of programs over and over! Not even learning for there own and/or the mistakes of the past……. We may need a new captain at the helm……

By: yr2009

yr2009 — Wed, 08 Sep 2010 11:58:03 +0000

You’re right on the mark this time, Gregg.
Excellent article.
If previous government plans worked, there would be no need for more of them, and the Democrats would not be facing a debacle in November.

By: dyllman

dyllman — Wed, 08 Sep 2010 08:02:31 +0000

You have it right that running up more debt only depreciates the future. Gold is bid up on the hope of being able to escape the future loss. Gold was once money to prevent the goverment from counterfeiting the currency. The stimulus only goes to bid up stocks, corporations for buy-out, real estate, but it is just the same old stuff at a higher price that makes everybody feel better-off. The good times are all illusion, nothing new was actually built. You have to build an economy, financial games don’t do that.

By: nbywardslog

nbywardslog — Wed, 08 Sep 2010 05:42:20 +0000

This is a great piece, and sums up the contemporary Western politician’s mindset exactly: “I can’t solve the problem, so find me one I can – and we’ll do that”.

Keynes was clear on two things with QE (although he didn’t call it that): it isn’t a tickling contest, and only do it if the public finances are in good order. In short, big bang without bankruptcy.

The Government doesn’t have these conditions…because action has been left far too late. It COULD still do it by passing draconian legislation to force private sector cash hoarders and banking firms to cough up towards serious stimulation. But (a) Obama lacks the cojones for that and (b) after November he’ll lack the Congressional votes.

So batten down the hatches, stick to giving what relief you can afford – and wait for the storm to pass.

http://nbyslog.blogspot.com/2010/09/brea kingnew-evidence-blows-stress-test.html

By: joy6625

joy6625 — Wed, 08 Sep 2010 05:22:58 +0000

The reason you haven’t seen the true benefits of Obama’s recovery plan is due to Republican obstructionism. Congress doesn’t legislate. They bicker and argue and negotiate. They end up with watered down bills.

Tax cuts and tax loopholes may be rhetoric to some, but I can see the benefits. If small businesses are concerned about additional cost due to healthcare and the expiration of the Bush Tax Cut, then this would alleviate any additional cost they will incur.