Obama good for the economy ?

Discussion in 'Economics' started by riddler, Jan 6, 2013.

  1. riddler


    Yeah, I know, everyone says he's a socialist liberal..really ? Why did most Americans vote for him then. Although I don't agree with everything he does at least he actually does something.
    1) he closed the donut hole for seniors. Why was that never done before.
    2) you cannot be denied coverage for an existing condition
    3) you cannot be thrown off the plan based on an expensive illness
    4) you cannot be thrown off a plan due to some bull shiX technicality. Insurance companies are great at that, looking for every small loophole..no more..
    5) there is a cap as to how much insurance companies can raise premiums due to costs incurred by recipients who are very sick and have expensive medical bills.
    6) children are covered under a parents plan until 26 . This makes sense because a family already struggling to pay for college no longer has this extra burden of worrying about the cost of insurance.
    7) everyone has to get insurance or they are fined..this is unconstitutional ? I think not. If someone doesn't have insurance rather than going to a doctor for a minor ailment, they wait til the last minute and end up in an emergency room with a serious/ expensive condition and that effects all of us.
    8) no more co pays for preventative testing such as mammograms and colonoscopies. Again, this makes sense.
    9) setting up " exchanges" in order to make pricing for policies more competitive.
    At least this guy did something rather than just talk about it. Gotta give him that.

    Taxes..he raised takes almost 5% on the top 1% ..he also raised payroll taxes on everyone by 2% .. That's 80 bucks a month for someone making 50k a year.
    He also raised taxes on capital gains back to 20% for those making over 400k per year.
    there has also been job growth and if it's so bad out there, why are the markets rallying?
    Say what you want about this guy, at least he gets things done and walks the walk. The next challenge is the debt ceiling and spending cuts. Let's see how that plays out.
    One thing I am very disappointed in is this; Obama needs to address the black community regarding their irresponsible behavior such as children out of wedlock, single parent households, and emphasis on spurts and rap music opposed to more conventional ways of making a living. He needs to do this now, it's the perfect opportunity.
  2. 1. Most Americans are GREEDY.

    2. Most Americans don't pay enough attention to what he does to know any different.
  3. clacy


    Everything, including all of those health care benefits that you listed has to be payed for by someone. Obama just shifted more of that cost to employers and their highest earning employees.

    That us just cost shifting. So far Obama has been HORRIBLE for job creation and for real household incomes which have plummeted over 8% in four years under his watch.

    The market is up and so are risk assets like real estate and gold. He and Ben have successfully reflated real assets, albeit it will most likely be at the expense of the poor when future inflation catches up with all of the money created.
  4. you just happened to get me on a weekend when I'm deep underwater in my forex account, and have nothing better to do than bitch with people who disagree.

    You can always tell who is a democrat and who is a republican.

    democrats really like it when things get done.

    they rate the congress on how many bills they passed

    the more the better
  5. I think he did alot of good as well and i was skeptical of him at first. I do worry he doesnt draw a well defined line in the sand that separates common sense from socialism where the rich get punished.
    Most Americans vote for selfish reasons; who is the best for them and not whats best for the country.
  6. piezoe


    Riddler, just a fine point here. Payroll taxes, in net effect, weren't raised or lowered. They were used, temporarily, as the method of introducing some additional borrowed money into the hands of consumers to stimulate the economy. The temporary reduction of 2% in payroll tax was made up by transfers from the general budget, and borrowing the amount transferred.

    The net result of this temporary payroll business alone was no change in entitlement receipts and a pumping of borrowed money into the hands of willing consumers.

    It is not obvious how the burden of paying for this additional money plus interest will be distributed. Some of the cost may end up being monetized and show up as inflation; some may end up as a future claim on government assets. Should it turn out that the stimulus results in a commensurate increase in productivity - probably what was hoped for- then this particular package of stimulus money would be more or less self-funding.
  7. piezoe


    Show me a person who would choose protecting the rich over paying their light bill, and I'll show you an idiot!:D
  8. Unfortunately what he only gets done what he WANTS to... and nearly all of that has been BAD for the country and the future of all of us.... kids and grandkids, also. Hitler/Stalin/Saddam/Pol Pot/Idi Amin... all "got things done", too.

    :mad: :mad:
  9. don't start with me. It all goes into the unified fund, regardless of what you call it on a paycheck.
  10. burn8


    There is no free lunch (or healthcare).

    #10     Jan 7, 2013