Plus, there is a good possibility that the economy will improve in the next two years

What economic indicators do you see that lead you to this conclusion?

Prescott;457867 wrote:What economic indicators do you see that lead you to this conclusion?

Not this one, scary stuff:

http://www.theatlantic.com/business/archive/2010/08/nearly-a-quarter-of-fidelitys-401-k-s-have-loans-against-them/61829/

We're a nation drowning in debt and reduced income opportunities. This administration should have addressed this situation first rather than spending time on a health care bill few people are satisfied with. The good possibilty I can only assume is just overly optimistic hope. We have seen plenty of change however. I'm glad to see home values in our neighborhood changing for the worse (sarcasm).

Manhattan Buckeye;457903 wrote:Not this one, scary stuff:

http://www.theatlantic.com/business/archive/2010/08/nearly-a-quarter-of-fidelitys-401-k-s-have-loans-against-them/61829/

Saw a Fox business show this morning wherein one of the talking heads says this (raiding 401K accounts) is actually indicative of the bottom of the recession. He referenced other recessions, the latest in 2002, wherein this was a valid indicator that we've turned the corner. The other members of the panel didn't agree, but it's something that can be measured. Having typed that, we are in far worse financial shape than at any other time coming out of a recession.

On the same show, a couple others opined that temporarily eliminating the Capital Gains tax for 2 years would spur investment and entreprenuers to get capital to start businesses and expand. I agree 100%, but then only the supposedly filthy evil rich would benefit, so it has to be a horribly twisted and demented idea, eh?

I can "kind of sort of" see the rationale that the 401(k) raids are better than the alternatives - i.e., more defaults and foreclosures which are lose/lose for both parties. But I'd be curious to see the financial position of the folks that raided their 401(k)'s back in the last recession, and whether they missed out on a large part of the '04-'07 stock run-up since they were busy paying the borrowed amounts back. In short, will the long term effects outweigh the short term benefit of having access to liquid assets now, and whether we're just kicking the can down the road that can lead to a mega-meltdown that would dwarf this one?

Manhattan Buckeye;457958 wrote:....and whether we're just kicking the can down the road that can lead to a mega-meltdown that would dwarf this one?

Coming soon to a theater near you.

I'm certain he's as incompetent on vacation as he is while he's golfing... I mean.... working, so I say stay on vacation as long as he wants! Its tax payer money better spent!

I'm as conservative as they come (well, maybe not the most conservative, but you get the idea), and its rediculous to complain about BHO going on a vacation. Every President since 1776 has gone on vacations paid for by the US government. Its one of the "perks".

Sorry, get over it.

Now, if this thread was about any of his policies, I'd be all about jumping on BHO.

Usually vacations are reserved for folks who have actually done some work.

Tiernan;459532 wrote:Usually vacations are reserved for folks who have actually done some work.

Running up massive debt for little to no benefit is the Washington equivalent of work.

Dear fellow Americans,

For only the second time in my adult life, I am not ashamed of my country. I want to thank the hard working American people for paying $242 thousand dollars plus additional expenses for my vacation in Spain . My daughter Sasha, several long-time family friends, my personal staff and various guests had a wonderful time. Honestly, you just haven't lived until you have stayed in a $2,500.00 per night suite at a 5-Star luxury hotel. We only booked 70 rooms for our friends, staff and family. Thank you also for the use of Air Force 2 and the 70 Secret Service personnel who tagged along to be sure we were safe and cared for at all times.

Air Force 2 only used 47,500 gallons of jet fuel for this trip and carbon emissions were a mere 1,031 tons of CO2. It costs only $11,500 per hour to operate Air Force 2 and each additional plane for the other members of our party group. These are only rough estimates, but they are close (who's counting?). That's quite a carbon footprint as my good friend Al Gore would say, so we must ask the American citizens to drive smaller, more fuel efficient cars and drive less too, so we can lessen our combined carbon footprint.

I know times are hard and millions of you are struggling to put food on the table and trying to make ends meet. I do appreciate your sacrifice and do hope you find work soon. I was really exhausted after Barack took our family on a luxury vacation in Maine a few weeks ago. I just had to get away for a few days. Will write more from Martha's Vineyard where we will spend our sixth vacation this year with more of our family and friends.

Cordially,

M. Obama