Wednesday, February 25, 2009

Finally A President That Can Talk

It is great to again have a president that can speak.

Not only speak, but is willing to speak to people who disagree with him. I was very impressed last week (or maybe two weeks ago) when he went into areas that had not voted for him (unlike the former president) to speak about the stimulus package. He spoke before an unscreened audience (unlike the former president) and willingly took questions from people who did not agree with him (unlike the former president). He answered their questions in a clear and concise manner (unlike the former president) and was gracious to all (unlike the former president).

His speech last night was inspiring. Let's hope his programs can match his rhetoric. There is no question that the man can deliver a speech. It was quite a contrast to both the previous president's speeches and to last night's republican response.

The poor republicans. They have no new ideas. Their solution is more of the same -- tax cuts and more tax cuts. They don't see to realize that the stim includes tax cuts. But then again, maybe their problem is that these tax cuts are primarily aimed at the middle class, not the upper class. They don't seem to realize that tax cuts for people who are already living on the edge gets into the economy much faster, because they spend it right away, than tax cuts that target the rich who have the option of just saving it.

In fact, I think their whole idea of tax cuts to stimulate the economy is somewhat in question, especially the Bush tax cuts which Obama wants to let expire. Here is a graph from Angry Bear that shows the growth in real GDP (gross domestic product) since the early 1950's broken down by presidents.

The increase in GDP during the Bush years are some of the lowest in the past 50 - 60 years. So much for the economic benefit of the Bush tax cuts. The other thing to note is that generally speaking the highest growth occurred during the 50's, 60's and 70's when the marginal tax rates, the tax rates on the richest people (people making over $3 million in today's dollars), was much higher (70% to 90%) than it is now.

So, I say go for it Obama.

1 comment:

  1. I'm in the midst of spring cleaning for 4 days (25-28)... just scrubbed the wooden floors on my knees. (living room and dining room).. and cleaned out the fireplace etc.

    I'm not supposed to be reading blogs or blogging at all...........but I had to read yours.... to get my update on what is going on in the economy/political world given to be Clearly and Condense.

    I think OBAMA is one of the GOOD GUYS. :)

    I'm going to take a break and watch him on UTUBE since did not watch him on T.V. lately.

    Jerry..Hope you are feeling GREAT...

    Back to cleaning........the foyer closet next... and ironing for hours today. (but it is going to rain so and no work today a good day to catch up on all home tasks).

    But thank GOODNESS i got a lot of work lined up already for March... still need more but a good start.. :)

    I know the economy is supposed to be bad......but as long as I don't watch the news I'm fine. When I lose work I find new work (but when the news is on that FEAR paralyze me in the past).....I am taking work that pays less; but with the passive income I get for renting and child support it works out.

    I also like the challenge of finding work..... various kinds.. sometimes I take jobs giving out PRIZES too. (that is fun)

    Betty Ann