I have a feeling that even if the GOP wins 240 House seats and take a Senate majority the MSM will try to say it wasn’t “as big a margin as expected”.
They can do more then just extend the tax cuts. They can defund Obamacare, they can unfund any of the stimulus money that has not been spent, they can haul up the heads of the various agencies who will be trying to implement law without consent of congress into committee meetings and defund their agencies. They can do a lot to cut costs.
It isn’t the red ink that kills, it is the total amount wasted on government. Running expenditures at 25% GDP is what is collapsing the system, not the Bush tax reductions.
If keeping the tax cuts boost hiring I’m all for it. People on unemployment pay very little taxes and that is more harmful to revenue then having those that work pay a lower rate.
Whom do you think voters will give credit to for a positive ‘change’ in the economy?
1.) Obama will not move to the center.
2.) Ryan/Boenher will send a bill with greatly stripped down cost, it will get Vetoed.
.3.) Gov't shutdown will insue, GOP blamed, potential of civil unrest with the whole progressive universe seeing their chance and striking.
4.) Standoff goes on for two years, Mkts do not like uncertainty, they drift as only budget continuations keep the machine barely running.
5.) The only good news is a stop to new legislation, again the markets drift with no solution as to their roll back.
6.) Tea Party ferver stays high as Obama tries to run the country and inact legislation like cap and trade via Executive Order...
IMHO things may get so bad that Obama either uses the "F-Bomb" or some other event where he looses his temper enough in public like Ray Nagan did and it may be so bad that the Dem's may have to go to the Oval Office like Goldwater and Dole did for Nixon and ask him, "Barry it is time to go"....
One reason I so look forward to a Rep House & Senate is when all hell breaks loose in the ME in the next 2 yrs (& gas goes to $4, $5 gal), the Reps will push forth for more domestic drilling for national security reasons & to create jobs.
If Obama vetoes it, 2012 will be a landslide worse than Mondale.
It won’t mean much.
Gridlock and vetoes is the agenda for the next two years.
The only legislation that will pass will be continuing resolutions and periodic raises in the national debt.
how about a 100% freeze on all government jobs, both in # and in raises as a good start. a top to bottom rigorous review of each and every pet government agency to see if it can be reduced or eliminated?
Oh, defunding of czars
mark
If Nick Guarino of Wall Street Insiders is right, the very last thing to put your money into is commodities like gold, silver, and the like. Commodities are merely a HEDGE against INnflation - they aren’t “investments”. He insists that we are in a DEflationary period and the government is desperately trying to inflate money to make it worth less and inflate their way out of the debt they owe, but that it won’t work, because it never has worked.. The definition of INflation is: “Too many dollars chasing too few goods”. To print money is to inflate it and devalue it.
He charges his subscribers $5,000 a year for his stock market advice which is always against the prevailing conventional wisdom,
For another perspective, you may want to read what he says here:
Wednesday, October 06, 2010 7:13 PM
Six months to biggest stock market crash ever
http://www.wsifn.com/instantfree/flashemail_100610.htm
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Here are a couple of articles that reinforce his position:
Fed Deflation Concerns Trump Inflation Worries
The Market Oracle ^ | 10-`2-2010 | Bob Browne
http://www.freerepublic.com/focus/f-news/2606648/posts
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The Fed’s commodity bubble
October 15, 2010 11:33 am http://finance.fortune.cnn.com/2010/10/15/the-fed%E2%80%99s-commodity-bubble/
See even more here: http://www.freerepublic.com/focus/f-news/2606648/posts