Rasmussen Reports released a poll yesterday showing that support for the pork-heavy stimulus package is continuing to fall. The package has already passed $900 Billion and still has room to grow.
| Do you favor or oppose the economic recovery package proposed by Barack Obama and the Congressional Democrats? | |||
|---|---|---|---|
| Date | Favor | Oppose | |
| Feb 2-3 | 37% | 43% | |
| Jan 27-28 | 42% | 39% | |
| Jan 19-20, 2009 | 45% | 34% | |
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Posted under Economy
Written by admin on February 5, 2009
The trend of election-timed records continue. As reported earlier, stocks set a record post-election day drop earlier in the week. Reuters reports that even with the rally on Friday, stocks set a new record for losses for the week after an election.
So far, it seems that Wall Street lacks confidence in an Obama administration. The fear likely stems from Obama’s promise to raise taxes on those who hire, set salaries, and set pricing for goods and services. A tax hike on any level is likely to only make the current economy issues even worse. In fact, Herbert Hoover created the depression with policies such as these. Time will tell if advisers have any success in persuading Obama to make sound economic decisions.
With even more job losses this week, it is unclear if the economy has hit bottom. Unfortunately, it can turn into a self-perpetuating situation. People lose jobs and are unable to spend money with companies. Companies lose profits and have to let more people go. It’s a situation that will be a challenge for the new President-elect.
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Posted under Economy
Written by admin on November 8, 2008
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
Written by admin on November 6, 2008
I came across an interesting video montage on the musical numbers that have floated around of late. The most interesting tidbit, which I forgot, is Obama’s Democrat primary comment that anyone making $97,000/yr is “upper class”.
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Posted under Election
Written by admin on November 1, 2008
I usually try to look at both sides of things, but Obama is really out of touch right now. This youtube clip says it all. It’s got some commentary in it, but it’s the only clip I’ve found with his quote. It appears Obama is basically saying that anyone who doesn’t want more taxes is simply selfish. Then he compares taxation to sharing toys in Kindergarten, or sharing a sandwich.
There is a difference between charity/sharing and taxation. Sharing is an act one chooses to do, taxation is something that is forced. If I don’t share, I’m just an ass. If I don’t pay taxes I’m heading to jail.
I also hate to point it out, but Conservatives are more charitable than Liberals.
One comment, what do you think?
Posted under Election
Written by admin on October 31, 2008
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