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Obama Presidential Thread XIX: Starting a new chapter

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Re: Obama Presidential Thread XIX: Starting a new chapter

Inflation creates a penalty for hoarding cash. It encourages activity because a dollar under a mattress will gradually lose its purchasing power.
Deflation creates a bonus for hoarding cash. It discourages activity because a dollar under a mattress will gradually gain purchasing power.

Yeah, except the common folk don't get this.
 
Re: Obama Presidential Thread XIX: Starting a new chapter

Wait now, I'm admittedly ignorant about these things but I thought the long-running federal policy of Quantitative Easing meant printing more money which is meant to create inflation (out of possibly wrongful fear of DEflation). Am I wrong?
No, you're not wrong. The Federal Reserve has shown no balls whatsoever when it comes to raising interest rates - and their inflation targets are a joke. How meaningful is an inflation guage when you exclude food and energy costs?
 
Re: Obama Presidential Thread XIX: Starting a new chapter

Please.

So answer this, what has Obama done to get the economy going? < cricket sounds > Besides extending the Bush Tax Cuts against his party's wish?! Extending the Patriot Act? Not closing Gitmo? Holding closed door negotiations?!

I thought one of the many wonderful characteristics of the Obama's health care reform was that it was going to be a major economic stimulant. Oh, and spending a trillion and a half dollars a year that the feds don't have was supposed to juice the economy enough to overcome pretty much anything.
 
Re: Obama Presidential Thread XIX: Starting a new chapter

I thought one of the many wonderful characteristics of the Obama's health care reform was that it was going to be a major economic stimulant. Oh, and spending a trillion and a half dollars a year that the feds don't have was supposed to juice the economy enough to overcome pretty much anything.

I thought the argument about HCR stimulus was it would help over time by decreasing the burden on individuals' health care costs? That certainly needs time to work, considering most of HCR won't even kick in for years.

I'm only going to play devil's advocate here, so please shoot* Krugman, not me, but there was actually a pretty strong chorus at the time that the stimulus wasn't large enough. You may think that's crazy. I don't know enough either way, but it sure sounds like throwing good money after bad to me.

I'm all for getting it all back by uncapping the payroll tax, though.

(* but not really. We know how you gun nuts are... ;) )
 
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Re: Obama Presidential Thread XIX: Starting a new chapter

Like the new guy is going to be any better. Although he didn't screw up a book quote so I guess it's an improvement.

Honestly, it's not that hard a job. Raise money, don't say anything stupid, raise more money, don't say anything stupid, repeat for two years. Steele was a big 0 for 2.
 
Re: Obama Presidential Thread XIX: Starting a new chapter

In all seriousness, what do people think is actually going to get done for the next two years? My guesses:

What isn't going to get touched?

- Nothing on campaign finance reform
- Nothing on energy or environment
- Nothing on education

I'd like to see McCain-Feingold repealed. It hasn't done a thing to change the tone in political ads. In fact, I'd say they've gotten worse. The money that would have once gone directly to the candidate now gets branched off into a few directions surrounding the candidate of your choice. This also provides political cover for the candidate once the mud starts flying. You get ads that state things like, Bill Berditzman supports more hand guns on the street. Bill Berditzman supports the gangs and the violence they represent. Bill Berditzman supports child rape. Bill Berditzman will rape your little girl, we saw him peeping through your window last night. ....This ad is not sponsored by any candidate.

Let's re-channel as much of the money as we can back to the candidates directly and force them to take responsibility at the polls for message of their campaigns.

As for the environment/energy, I bet we see some action in the House on trying to repeal the ethenol subsidy. Does anybody remember the list of groups that came out against that subsidy this past year? Not even Al Gore supported renewing it. The only supportering group of the subsidy was the corn farming lobby. Ultimately nothing will come of it because people seem to think the Iowa caucus being first should hold some extraordinary weight. I hate it.
 
Re: Obama Presidential Thread XIX: Starting a new chapter

Was McCain-Feingold's main aim to change the tone? Either way, the real big parts of the law were struck down last year anyways.
 
Re: Obama Presidential Thread XIX: Starting a new chapter

Was McCain-Feingold's main aim to change the tone? Either way, the real big parts of the law were struck down last year anyways.

Even with that, there should be complete repeal. It was a bad law and Washington should recognize that publicly.

It's main goal, as I remember it being claimed during the legislative process, was to limit the influence of money on politics, to limit the direct influence upon the candidates by disallowing those large dollar donations that always get villified. I think there was another, unstated goal of protecting incumbants by limiting the funds a challenger could raise.
 
Re: Obama Presidential Thread XIX: Starting a new chapter

I thought the argument about HCR stimulus was it would help over time by decreasing the burden on individuals' health care costs? That certainly needs time to work, considering most of HCR won't even kick in for years.

I'm only going to play devil's advocate here, so please shoot* Krugman, not me, but there was actually a pretty strong chorus at the time that the stimulus wasn't large enough. You may think that's crazy. I don't know enough either way, but it sure sounds like throwing good money after bad to me.

I'm all for getting it all back by uncapping the payroll tax, though.

(* but not really. We know how you gun nuts are... ;) )
How is the 50 year War on Poverty going?
 
Re: Obama Presidential Thread XIX: Starting a new chapter

How is the 50 year War on Poverty going?

Considering the poverty rate dropped throughout the period of Dem control of Congress from the 30's through 70's, despite all measures having to be sold as entitlements rather than targeting poverty solely, and despite the right's constant smearing of every measure from social security to Medicare as tyranny, not bad at all. The situation predictably deteriorated after Reagan, but we manged to hold off the worst ravages of plutocracy for about 50 years, saved the American Dream, and didn't wind up with a wealth structure similar to a banana republic which would have happened if the divine right of wealth types had had their way.

Thanks for asking.
 
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Re: Obama Presidential Thread XIX: Starting a new chapter

Considering the poverty rate dropped throughout the period of Dem control of Congress from the 30's through 70's, despite all measures having to be sold as entitlements rather than targeting poverty solely, and despite the right's constant smearing of every measure from social security to Medicare as tyranny, not bad at all. The situation predictably deteriorated after Reagan, but we manged to hold off the worst ravages of plutocracy for about 50 years, saved the American Dream, and didn't wind up with a wealth structure similar to a banana republic which would have happened if the divine right of wealth types had had their way.

Thanks for asking.

From 1930 to 1970? And that is 100% the result of what party was in control of congress? So, can we blame the democrats for everything that got worse from 1930 to 1970 too?
 
Re: Obama Presidential Thread XIX: Starting a new chapter

From 1930 to 1970? And that is 100% the result of what party was in control of congress? So, can we blame the democrats for everything that got worse from 1930 to 1970 too?
The main factor would be the postwar economic expansion of the US - since somebody had to help rebuild Europe, and it just so happened America was the only industrial power with that capability (since all the other ones were invaded and/or had the **** bombed out of them). Who was in control of Congress didn't much matter as this would have happened regardless. To put it bluntly, it's the economy, stupid. Economic growth trumps everything; the government can slice up the pie how it wishes, but it's growth that enlarges the pie.
 
Re: Obama Presidential Thread XIX: Starting a new chapter

I'd like to see McCain-Feingold repealed. It hasn't done a thing to change the tone in political ads. In fact, I'd say they've gotten worse. The money that would have once gone directly to the candidate now gets branched off into a few directions surrounding the candidate of your choice. This also provides political cover for the candidate once the mud starts flying. You get ads that state things like, Bill Berditzman supports more hand guns on the street. Bill Berditzman supports the gangs and the violence they represent. Bill Berditzman supports child rape. Bill Berditzman will rape your little girl, we saw him peeping through your window last night. ....This ad is not sponsored by any candidate.

Let's re-channel as much of the money as we can back to the candidates directly and force them to take responsibility at the polls for message of their campaigns.

How on earth would repealing a statute put that genie back in the bottle? Like the candidates are seriously going to take a hit in the polls when a private hit squad can do the dirty work for them. :rolleyes:
 
Re: Obama Presidential Thread XIX: Starting a new chapter

How on earth would repealing a statute put that genie back in the bottle? Like the candidates are seriously going to take a hit in the polls when a private hit squad can do the dirty work for them. :rolleyes:

It would become a matter of campaign integrity. The candidate would request that the PACs either tone down their campaigns or outright admonish them. Or it would be done with a wink and a nod to it.

Also, the role of the PACs would diminish as people woudl give more directly to the candidates and not the surrounding groups.
 
Re: Obama Presidential Thread XIX: Starting a new chapter

I just don't see the impetus for either change to occur.

The only thing I think can and should be done regarding the third-party advertisements is a requirement for full disclosure of funding sources. I'm not aware of any requirement that freedom of speech be freedom of anonymous speech.
 
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