obamaconomics

[maladroit]

WOW! that was a great party...now that the celebrations are over, it is time to get back to reality

how the hell is obama going to manage the fiscal emergencies facing the usa?

on the revenue side:
- increased taxes on people making over $250,000 doesn't kick in until the bush tax cuts expire in 2011(?)
- the recession is going to cause a general decrease in tax revenues

on the expense side:
- obama is stuck with the $700 billion bailout package he supported but will have limited control over when he is president
- his health care plan is going to cost $?? billion
- his early childhood education and post-secondary education plans are going to cost $?? billion
- his green investment program is going to cost $?? billion
- 2008 interest payments on the national debt were $450 billion, and the national debt will grow by at least $1 trillion by 2009 fiscal year end (sept 30)
- medicare and social security are financial timebombs that could bankrupt the US government within 20 years

meanwhile, government resources around the country are being swamped by increasing levels of unemployment and homelessness

it will be extremely difficult to accomplish much with that baggage

maladroit Reviewed by maladroit on 11-06-2008. obamaconomics WOW! that was a great party...now that the celebrations are over, it is time to get back to reality how the hell is obama going to manage the fiscal emergencies facing the usa? on the revenue side: - increased taxes on people making over $250,000 doesn't kick in until the bush tax cuts expire in 2011(?) - the recession is going to cause a general decrease in tax revenues on the expense side: - obama is stuck with the $700 billion bailout package he supported but will have limited Rating: 5

[killerweed420]

We'll see. It will be an interesting 4 years.

[dragonrider]

You didn't hear? He announced that because of the economic crisis, he's nationalizing all the industries and imposing an across-the-board 90% tax rate on overyone! My God, they were right! He is a communist!

Ha ha! Just Joking.

It is going to be a difficult agenda to move and to fund with the way the economy is right now. I'd say the first priority will be getting the economy on track. Any tax INCREASE will probably have to wait, even the one we wanted to bankrupt Joe the Plumber. I kind of hope the Democrats resist the same cash giveaway kinds of stimulous packages Bush liked. If the economy needs stimulous, it should come in the form of the investments in infrastructure and alternative energy that Obama also wants to do. It's a way to get the money inti the economy, but actually get something of value for it as well.

[maladroit]

those tax increases were going to have to wait anyway because bush's tax cuts don't expire for another 2 or 3 years...by then, the economic crisis will be over and rich people will be wondering why they have to make sacrifices when things are good

[Revanche21]

legalize marijuana and make it our #1 export lol jk idk

[IAmKowalski]

legalize marijuana and make it our #1 export lol jk idk

I believe that the 'jk' above is supposed to stand for "Just Kidding"? Maybe?

Given that marijuana is our number one domestic cash crop as is, and given further that a good portion of the marijuana purchased and consumed in our nation is not grown domestically but imported from Canada and Mexico, then what effect would legalization in the U.S. have on our economy?

The net positives for our economy of keeping money current going to growers and smugglers over the boarder at home are impossible to deny. Frankly, legalization as a means of economic stimulation is good and sound policy, so I don't quite see why "Just Kidding" was added to the end of that sentence.

Of course, I'm not entirely sure that I guessed right when translating that sentence to English, so I could be wrong.

[JaySin]

Legalize it and let anyone that want to grow obtain a license and be monitored. That way it can be sold legally to vendors with lower possibility of underage users getting there hands on it. If that were the case, I'd probably dedicate my entire basement to growing. :jointsmile:

[marijuanaisgr8]

legalizing marijuana would in actuality keep billions of dollars in our country but it would hardly solve the situation.

I personally dont feel like obamanomics will work. Tax relief and increasing taxes on the rich doesnt get to the root of the problem which from what I've learned is inflation, very loose credit policies such as fractional reserve banking, & incredibly fraudulent stock market, bond, and derivitive policies. If we want to solve the situation we have to get money back in the hands of the working class and out of the hands of the ppl who sit behind desks all day doing nothing. Money needs to be pegged to skilled labor that produces real wealth and commodoties. Most of our money is floating around in stocks, bonds, derivitives, and fraudulent mortgages and trying to patch up a system that needs REFORM wont work.

[flyingimam]

in fact legalization of ONLY marijuana, regulation of it and legal production and sale of it and its by-products (count in all hemp-derived products as well) can do much good for the nation

1. Save up a gigantic amount of money used on war on marijuana
2. Focus on other crimes better
3. reverse convictions of simple possession marijuana offenders, currently costing federal and state govts and taxpayers money whether in programs or in jails
4. Quit focusing on corn-ethanol, make fuel alternatives from hemp >>> this will lead to a drop in food prices overall and also gasoline (currently benefiting only a few states and a few bunch of lobbying farmers, they can simply switch the crop)

just imagine if in the current situation, we can pioneer in hemp-derived fuels and impose a worldwide monopoly for a while, saving money by avoiding buying foreign oil, creating jobs here at home and going for exporting as well

this wont "solve" the problem, but it will be of much help

[marijuanaisgr8]

as a matter of fact that would damn near solve the whole problem but I never mention because I just dont think it will happen. Hemp is just so easily grown and easily renewed that I dont see why we cant just go for it...