Joey Reynolds and his guests were talking about the state of the economy, and while they didn’t necessarily come up with any brilliant solutions, they did do a pretty good job of framing the problem.
President Obama and Tim Geithner are pursuing that the only way to avoid disaster is to take the debt making machinery and push the pedal to floor. If we just give away enough free stuff, the economy will turn around, real estate and the stock market will bounce back and the increase in economic activity will ultimately take care of the debt.
But the American people (and Joey’s guests) are slamming on the brakes. We view debt as the problem, not the solution. All of the rapid change and uncertainty is paralyzing decision making and forcing lots of money into short term investments to tread water – not just individuals but businesses and developers. But the problem is that if people become frugal and cut spending to the bone, reduce personal debt and save money, the economy slows, unemployment goes up, and the government deficit explodes. The country is addicted to debt and overconsumption. Stopping that cycle suddenly could be catastrophic.
Until and unless people think the future is predictable, many people will stay in full defensive made, protecting their future survival. President Obama needs to slam the brakes on the change machine if there is any chance for the economy to begin to adjust and heal. The best thing he could do is take a long vacation and stop holding daily media events and give up the “we must do something fast or else” rhetoric.
What a real Moron , So you would have rather hasd Anarchy? you dont even have XXXX Clue on what would have happened you moron. The Bushes and his chronies had this country so Screwed up We had no choice !!!!!!!!!!!! Believe me you still got a job fool ! You would not have it now if he did nothing
I don’t have a “job”. I’m retired.
I suject you take a course on History!
Yup…you were right…my head is about to explode!
So, Dinjee, your strongest argument seems to have two prongs: First, “Bush did it” and Second, “We’ll go bankrupt if we don’t spend more money….NOW! NOW! NOW!”
Clearly, you are an Obama proponent, which is your perogative. However, with that being said, I must wonder if your bias is so blinding that you don’t see that President Obama is acting like President Bush on steroids…more secretive, more lies and half-truths and more – substantially more – reckless spending.
Obama promised lots of things to everyone. Gradually, we are all discovering that promises of an accountable, transparent and, well, different government (differen how? Different than President Bush…that’s HOW)…those promises don’t seem to be worth the paper our money is being printed on.
He deserves to be held to a higher standard of accountability than previous presidents simply because he set himself up on a higher plane. The “change train” has left the station and it’s starting to look like the only truthful statements made by candidate Obama are the ones about “spreading the wealth around”.
If he, and his amateur band of change-agents don’t stop the reckless path we are on then we’ll all be poor and powerless together.
Well put, CharlieJ!
Obama put on the brakes ?? Are you kidding, he just gave 2 billion dollars to Brazil’s government owned oil company to explore for oil off the coast of Brazil. Which by the way was very handy for Geroge Soros !