The Economy

I'm greatly concerned about the state of our economy. So far, I haven't seen anything from Obama to suggest that we are diverting away from the destructive policies of past administrations. His big accomplishment on this front was passing a stimulus package earlier this year. The trouble with this approach is that most of the $800 billion in new spending is being financed through new debt spending and most of the jobs being produced are short term, only related to the projects that are being funded. Another key question to ask is: what happens after next year when the money runs out? And of course, the Treasury Department and the Federal Reserve continue to offer low cost liquidity and capital injections to large banks who are regaining profitability even as they continue to carry large amounts of toxic assets. In some cases, they are even transferring those assets at cost (!) to the Federal Reserve's balance sheet. Cash for clunkers (expired 09/09), the first time home buyers... Read more

Borrow and spend has been the scam at least since the Reagan administration, but Obama has taken the insanity to new heights and unfortunately he hasn't been spending on anything that could concievably help American workers. Massive payoffs to the same idiots who destroyed American enterprise just aren't going to do it. Even more unfortunately, we definitely can't look to the Guardians Of Privilege for a solution. Ready for another Great Depression?

Are you better off now then you were 1 year ago (10% unemployment, inflation)? Hardly, The rich are just getting richer and the poor are getting gouged. I thought democrats were traditionally for the poor people. I think thats a thing of the past. They are just as money hungry as ever. The economy maybe slowly recovering, but do YOU feel that effect in your life/personal finanaces?

Granted, it wasn't in great shape, but all this "stimulation" didn't stop unemployment from hitting 10%, so I'll break out a lowly D.