Re: Obama XIV: President VISTA with SP2
I typically stray away from these type of threads, but I'm pretty itching for some neg reps.
It seems the midterm elections coming up are being hyped much more than they should. While there are some very interesting races, what is more interesting is how there are internal conflicts within parties.
-The Republicans have seemingly relied on an old guard to discuss policies in the media (Gingrich for one) and the "Tea Party" has gained momentum in conservatives because of inefficiencies in party opinion.
-The Democrats have struggled with the recent scandals (Rangel, etc.) and the blame of the still struggling economy is looming large. The Dems have a majority and have lacked the nuts to push bills through Congress like the Republicans did from 2000-2004. Of course the non-incessant complaining over every little thing by the Republicans is a deterrent, but it's not as if there is no way to get around that.
Economically, Ben Bernanke (a Great Depression nut/scholar) said back when the economy went into the can, that it would take years (3-5) for the economy to show consistent signs of improvement. The far right has blamed the Dems for the poor economy (that was actually a combination of poor policy decisions from Bush II, early Clinton administration, and the Reagan administration), and the Dems have said wait, wait, wait. Well, the moderates from each party have realized that the American Recovery and Reinvestment Act of 2009 was an attempt to hit a home run, but in reality, it has been slowed by party politics and bickering. Much of the funds have been allocated, but the money multiplying effect from the tax cuts and direct funds is just beginning. Patience is necessary, but the continued *****-footing of the Dems will delay the resurgence of the economy.
Finally, the notion of a double-dip recession is a poor term to use for what may happen with the economy. The only way a true double-dip recession will occur is if the federal funds rate is raised to prevent a dramatic increase in inflation. What is more likely to occur is that a significant event, such as a natural disaster, or large corporation going bankrupt, will send GDP and the Consumer Price Index into negative territory again, this will cause the recession (which is technically over after two straight quarters of positive growth) to continue, not sink further.