RWNJ Conservative Views from Cincinnati

It seems Obama is falling for the same flawed economic logic that fooled FDR back in the 1930’s.  The New York Post is reporting that Obama is wanting to push through a $500 million (4% of US GDP) stimulus package similar to FDR’s “New Deal”.

While investing in infrastructure, replacing bridges, and rebuilding roads is great for the construction industry, it suffers from “lag”.  Often, by the time the investment is felt from an economic standpoint, the economic issues are past.  It is not a quick fix to economic woes, as Roosevelt found out in the 30’s.

Jason Furman, one of Obama’s chief economic advisers, wrote, “In the past, infrastructure projects that were initiated as the economy started to weaken did not involve substantial amounts of spending until after the economy had recovered.”  Alan Blinder, another of Obama’s economic advisers, said that spending money on public works for the purpose of economic recovery was “wasteful”.

So here we are, looking at what essentially is pork (even larger than Ted Stevens’ wildest dreams) and it’s being pandered as an economic recovery package.  I have no problem with backing the repair of our aging and sometimes dangerous infrastructure, but I certainly don’t like the packaging.

One comment, what do you think?

Posted under Economy

Several news outlets are spreading the rumor that Hillary Clinton is in the running to be nominated to Obama’s cabinet as Secretary of State.  Democratic officials are confirming that Clinton is in the running for the job.  Others apparently in the running include Senator John Kerry, New Mexico Gov. Bill Richardson, and former Senate Leader Tom Daschle.

Hillary clearly has some contacts she can lean on, especially if you consider Bill’s 8 years as President.  There is no word on if she would want the job or not if she is offered it.  It might help patch some of the rift that has formed between Hillary supporters and Obama supporters if it happened though.

Hopefully the sniper fire will stay at a minimum if she does get and take the post!  (Sorry, couldn’t resist)

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Posted under Foreign Affairs

There are reports of increasing gun sales across the country.  Currently, Federal background checks are up 9% over last year.  Obama said he is for the second amendment during the campaign, but clearly there are many who are not convinced.

Obama clearly has some anti-gun history.  When running for the Illinois State Senate in 1996, he even answered that he supported state legislation to “ban the manufacture, sale, and possession of handguns.”  That’s literally saying that he wanted the elimination of the second amendment.

Given his past, gun owners clearly aren’t gun whacko nutjobs looking for an excuse to buy guns.  Past history is a great indicator of how a politician will act in the future.  Though Obama doesn’t have much history, he has enough to give legitimate concerns for those who believe in the right to bear arms.

One comment, what do you think?

Posted under Guns

Obama is already running into difficulties spreading the wealth.  WTHR in Indianapolis is reporting that some of the Obama campaign workers had difficulty getting paid yesterday.  Some are claiming they are being short changed on what they were told they would pay.  All had to wait past the time they were told they would be paid.  Many sounded upset.

Video is on the WTHR article.

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Posted under Election

Stocks set a new post-election drop record Wednesday after Obama’s win in the 2008 Presidential election.  Wall Street clearly has some concerns about the uncertainty of the future in an Obama presidency.  Some key decisions, such as nomination of a Treasury Secretary, will help Obama either gain or lose more of Wall Street’s confidence.

A Yahoo news article points out some of the issues Wall Street may have with Obama.  One I may add is that adding more tax burden those that create jobs and determine the price of goods is never good for business.  It’s an even worse idea in a bad economy.  It always makes me think of the good old “bar stool economics” bit.

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Posted under Economy