Some Random Thoughts On The Present And Future
May 28, 2012 4 Comments
1. Everyone says they love the military, they have undying respect for them. When they get home from the war they can’t get jobs, health insurance, have high levels of suicide, have trouble assimilating back in to the ‘real’ world. This is the way we treat out finest? Disgraceful.
2. The filibuster rule in the Senate needs to be changed; the Republicans have blocked so many initiatives that could have helped the economy. The constitution says you need 50 votes, now its 60 so there won’t be a filibuster. This needs to be changed urgently.
3. Our country is in a Depression now; what happened in 08 and 09 was not a typical Recession; GDP was falling at 9% when Obama took office. This should be explained to people, this is why the recovery is taking so long and is so painful. What happened to cause this mess needs to be analyzed and explained. This situation is not just the fault of W.; it was decades in the making. Getting over a Depression is a completely different story than getting over a Recession.
4. Obama: What would have happened to those companies if Bain didn’t step in? Weren’t most of them on the verge of bankruptcy anyway?
5. Romney’s job as a Venture Capitalist was to get as much profit out of companies as possible; creating jobs was not part of his resume. When Romney was the Governor of Massachusetts his record of job creation was 47th out of 50th – when the economy was booming. This is not a good record.
6. For all of those people who think the Government spends too much, what do you think would have happened without TAARP or the stimulus in 2009? Things could have been worse than the Great Depression in the 30′s. A run on the banks, the major banks declaring bankruptcy; unemployment rates of over 25%. The money had to be spent, there is no way around it.
7. The reason the Obama stimulus didn’t do more was because it was too small; Paul Krugman predicted this at the time. That the effects of the stimulus of $800B would last only 18 months, and thats exactly the amount of time it took for the economy to start sputtering out. Think about it, adding $800B to a 15T economy is very little. Also, 1/3 of the stimulus went to tax cuts so that shouldn’t be counted as part of the stimulus.
8. The problem in the economy now is no one is buying anything; there is very little demand for goods and services. This is why companies aren’t hiring because there is no demand. When consumers aren’t spending the Government needs to spend to stimulate the economy. What finally got us out of the Great Depression was the tremendous spending involved in WWII; 75% of the economy I believe.
9. Longterm unemployment for people over 40 is at crisis level and isn’t even spoken about. A recent Pew study showed that people between 45-54 were getting hired at the slowest rate since the Great Depression; and that people 55+ just weren’t getting hired period.
I know I am forgetting somethings; so we should all enjoy this day and do something for anyone who has worn the uniform, even if its just tweeting ‘thanks for your service.’