Obama promotes fiscal restraint, big spending

Discussion in 'Economics' started by swtrader, Nov 25, 2008.

  1. AP – President-elect Barack Obama, second from the right, introduces his economic team during a news conference, … WASHINGTON – President-elect Barack Obama wants to project fiscal restraint even as his economic team assembles a massive recovery package that could cost several hundred billion dollars.


    this guy's gonna be the first president to completely lose credibility before being sworn in
  2. cleaning up this mess that these "so called right guys" have created in the last 8 years

    is certainly going to cost everyone....

    and it already is....

    wonder what an unemployed, no severance, no pension, no money family of 7 (including old relatives) would say to whatever spending was necessary to get things going again?

    just saw the Fox 5 News (pro republican news channel) presentation on all those former Lehman Brothers staffers who are now in that very same situation....

    seems comments like these can't blame Obama soon enough for all that he is inheriting...

    wonder what things would have been like if the other guy won?
  3. clacy


    First off, this guy has been dealt a pretty tough hand (I did not vote for him, but now I'm pulling for him).

    With that said, this situation will give him the opportunity to go down as one of the all-time greats, as so many of his supporters automatically assumed he would be -or- go down as a 1-term failure.

    I think he has the intelligence and communication skills to pull it off, but in the end, I think it will be Pelosi and Reed that seal his fate.

    I'm just not sure they will allow him to be pragmatic, which is the only way he can perform his way out of this mess.

    The other thing he has stacked against him, is patience. The American public wants things fixed asap and with the 24-hour media cycle, his grace period will be relatively small. If 18 months from now, we're still in recession, he will start to take a lot of heat.

    If things are the same or worse in 2011, it's game over for him. By then most likely the Republicans would have already made gains in congress and would likely take back control in 2012. If he wins a 2nd term, he should pray for a Republican congress in 2010/2012, as I see the Republicans getting back to conservativism.

    Just my 2 cents.......
  4. you really dont get it do you

    only thing that happens in january is a change of bus drivers

    they both work for the same company
  5. yeah, how 'bout that.... as they say on (CBS) "The Unit"

    yeah, I just saw that same episode last night on "Prison Break", where the general said the same thing you just did..

    oh, incidently, my comments are party neutral, just observations of how messed up we really are right now...

    so, have you been able to profitably and consistently profitably been able to trade these turbulent markets?

    I think we are all hoping that things slow down and regain their fiscal purposes instead of just these handout basket cases.

    besides, how did these firms get into a position where they needed billions in bailouts just to stay afloat?

    what broke?
    what were they allowed to do under Bush-II all these years that put all these financial firms in such jeopardy?
  6. actually, the general didnt say that last night on prison break

    and no, i dont think our reality is exactly like 'the company' on 'prison break'

    but i do think it's as close to reality as what our government portrays itself to be, perhaps much closer

    whether mccain or obama won, there might have been some cultural 'optional' agendas, bones to toss to their own groupies

    but the 'mandatory' agenda or the ruling elite would have been identical - in truth, there's no difference between them - there was no choice in 2008

    and both mccain and obama know it
  7. dtan1e


    sort of like saying i'm going to contribute beyond my income to help out my less well off neighbours while at the same reduce my credit card debt? what the heck, i could go take on some loans, then more loans, then more loans, not sure how this works, theorectically can't i keep getting loans until i die?
  8. You couldn't be more wrong.
    McCain doesn't have an ounce of Economic comprehension whatsoever.
  9. neither of them need it

    they're taking orders

    you really think Obama's going to be making decisions, or taking orders the the fed reserve's MOLE that takes paulson's place in jan?
  10. Mecro


    Don't bother wasting your time, Landis is a wilful sheep to the slaughter.
    #10     Nov 25, 2008