What is new is the unveiling of Mr. Obama’s agenda and his approach to governance. Every new President has a finite stock of capital — financial and political — to deploy, and amid recession Mr. Obama has more than most. But one negative revelation has been the way he has chosen to spend his scarce resources on income transfers rather than growth promotion. Most of his “stimulus” spending was devoted to social programs, rather than public works, and nearly all of the tax cuts were devoted to income maintenance rather than to improving incentives to work or invest."
Obama THIS IS YOUR FAULT!!!!
Obama could have grown the economy and stopped the bleeding Instead they did the opposite with their OUTRAGEOUS Spending Bills. Obama and the Democratic Congress and Senate chose pain for its citizens. We must never ever forget.
What Obama/Reid/Pelosie should have done is as follows:
1) decrease income taxes
2) decrease fuel taxes
3) increase domestic drilling
4) increase refining capacity
5) decrease capital gains taxes to:
a. 0% for two years
b. 5% for two years
c. 10% for two years
d 15% for two years
6) increase long term capital gain/dividend losses from $3,000 to $5,000 for the next 10 years and
7) decrease depreciation from 30 years to 15 years.
Instead of growing the economy Obama/Reid/PelousyMousy shrunk the economy with their ideology. Because of them, unemployment will reach double digits. Never ever let them get away with this crap. Never ever forget. Rahm, Obama, Reid, PelousyMousy are responsible for the on coming Tsunami.
8) halt SS taxes for 8 months, both employee & employer, for everyone, in trade for a 12 month delay in retirement benefit eligibility. People would have noticeably more “change” in their pocket to spend or save, the downturn would halt, confidence return, and the looming weight of SS debt would be lifted enough to make a difference.