IggyPride00;472846 wrote:The thing that blows is that unlike when Reagan came into save us, whoever takes over for BHO won't have the luxury of Slashing taxes while increasing taxes and starting a new era of big deficits to spur economic growth.
Having $13 trillion in debt with the boomers about to retire is sadly going to tie the hands of politicians in this country for a long time as far as doing anything to appreciably fix the situation, and God help us when interest rates go up because debt service payments are going to get out of control even if we didn't add one more penny in new debt from here on out.
One thing is certain: The Anointed One.....the Great Messiah of Hope & Change....along with his Twin Congressional Ministers of Spend Beyond Imagination have done such a miraculous job with our national fiscal policy that it's not difficult to fathom why the American electorate appears ready to boot that kind of success out of power.
My recollection of the Reagan years was largely one of unprecedented economic growth that lasted for nearly 25 years. Nevertheless, I'll grant that tax cuts won't be an option this time around....but with $800 Billion of bogus partisan porkulus spending camouflaged as "stimulus", ObamaKare, Kash fer Klunkers, Government Motors, bailouts of the UAW & NEA, the expiration of the Bush tax cuts looming in the near future, and over-spending that makes "W" seem like a financial genius it won't take much to improve on those absurd and incredibly irresponsible fiscal decisions.
Certainly a Republican re-assumption of Congressional power won't make my Matthews leg tingle since these clowns already proved they can spend with the best of Democrats. But at least we can hope for a return to some sort of DC Gridlock Scenario which is a far better option than the
Spectacular Failure of "spend more, spend now, spend often" we've witnessed the last couple of years.
No question that regardless of one's political leanings, this country is in a deep, deep financial malaise. Tax cuts aren't the answer but neither is Obamanomics.