Entries Tagged as 'Economy'

Infrastructure

President Obama is now asking Congress for at least $50 billion in long-term investments in the nation’s roads, railways, and runways.

Whether the timing is just a political ploy for the election or not doesn’t matter — this country needs to put people to work, and this country needs to improve the crumbling infrastructure that hasn’t been a focus since the 1960’s.

The specifics of his plan include rebuilding 150,000 miles of roads, constructing and maintaining 4,000 miles of railways, building high-speed rail systems, and repairing 150 miles of airport runways (while also upgrading the nation’s air traffic system).

The plan also creates a permanent infrastructure fund that would focus on national and regional infrastructure projects to keep momentum behind continuous infrastructure improvements.

This spending package is very different from the initial stimulus package; where as the stimulus package focused on spending to prop up the sagging economy in the short term, these infrastructure projects are long term investments in the country and the economy and likely would not show substantial job increases for several months.

In short, President Obama’s Labor Day announcement is intended to get American labor back to work — permanently.

Originally posted 2010-09-08 02:00:19.

US Poverty

The Census Bureau released new numbers on the US poverty rate yesterday — 14.3% last year; the highest since 1994.

Largely due to the rising unemployment amount working age individuals in this country (even the US government admits unemployment to be in double digits — and we can all be sure that they minimize the numbers as much as they can through their creative accounting and adjustments).

13.9%, or 39.8 million people in 2008 to 14.3%, or 43.6 million people in 2009… and you can be sure that number will be even higher in 2010.

The report also showed the number of Americans without health coverage rose form 15.4% to 16.7% (or 50.7 million people); mainly because of the loss of employment and employer-provided health insurance.  And the new health care provisions were passed; the main provisions won’t take effect until 2014.

Because of the Recovery Act and many other programs providing tax relief and income support to a majority of working families — and especially those most in need — millions of Americans were kept out of poverty last year.
· President Barrack Obama

The really incredible thing is that the numbers were expected to be much worse — and in fact it’s likely that increases in Social Security payments and expansion of unemployment insurance through federal extensions helped keep the numbers in check.

Clearly those earning over $250,000 need to have their tax cuts renewed!

Originally posted 2010-09-17 02:00:40.

The Eve…

It is the eve of a new year.

It would be interesting to know who future historians will characterize the first decade of this millennium; and what they will have to say about the causes of our plights.

Today; however, we don’t have the advantage of hind sight on today — nor can we really have good perspective on the recent events that have gotten us to where we are.

Each generation looks to it’s time as a decay of what was, and longs for the “good ol’ days”… and for us it’s hard to imagine that these will be the “good ol’ days” of another generation — and much as we lament about today with dwell on fond remembrances of our past so will our children’s children.

Well, that is if the light at the end of the tunnel isn’t an on coming train.

Originally posted 2009-12-31 01:00:25.

April Fools Day

But this is totally serious…

Today, California’s 1% increase in sales tax goes into effect; the term of the increase won’t be known until after a ballet measure is voted on.

California, like many states, has been spending far more than it’s been taking in — and this is yet another misguided attempt by the Governor and assembly to make up the difference.

In a down economy, let’s raise the sales tax — I’m sure that will jump start retail sales and put the economy on the fast track to recovery… GET A CLUE, it’s not like most people are spending money on luxury items right now, they’re just trying to make ends meet; and those with means to buy expensive items will just purchase them out of state.

It looks to me like the best view of California is in the rear view mirror leaving!

Originally posted 2009-04-01 01:00:49.

Apple – Double or Nothing?

Yesterday Apple announced another record quarter in sales.  In fact, iPhone sales doubled in Q4 2009 (a good holiday present for Apple).

Tomorrow Apples announces a new tablet computer (at least that’s the rumor of what they will announce).

Google has a lot of ground to catch up with Apple in the phone market, and it certainly doesn’t appear that Apple is going to just stand by and wait for them.

I guess the one thing that Apples numbers show is that there is money to be made in economic hard times if you’ve got something people want.

Originally posted 2010-01-26 01:00:44.

Mr President, now is the time to be a president.

There is a good article on CNN.com by Donna Brazile on what President Obama could (and should) do to get the economy back on track.

I think she’s got the right idea, but I think she really stops short of just outright saying that the problem isn’t necessarily Obama’s failed programs, it’s his failed leadership.

Now is not the time to sit on the fence Mr President; you’ve tried to build a consensus with congress (you failed to do that when your party had control of both houses, and you’ve continued to fail to do that now that your party doesn’t)… it’s time for you to lead — or to step aside and let someone else do so.

The problems this country has are solvable; but every day we wait to start moving down a path that is likely to put us on the road to get American’s working and to pay down the enormous debt that Republicans and Democrats alike have saddle the current (and future) generation(s) with we simply make the problem harder — and at some point there will not be a solution, the US will simply drift into the fray of third world countries never likely to regain it’s position as a real world leader again.

So, Mr President — be the president; make the hard choices; and move this country forward… it’s not the time to be a politician or a two term hopeful, it’s time to be a president.

 


4 ways Obama can take control to get America back on track by Donna Brazile on CNN.com

Originally posted 2011-08-17 02:00:42.

Boehner makes sense

House Minority Leader John Boehner (Republican) stated that he would support President Barack Obama’s proposal to renew the expiring Bush tax cuts only for those making less than $250,000 if it were his only option.

The Republicans in both the House and Senate were quick to add fuel to the fire and turn up the volume on the rhetoric about fiscal responsibility, watching out for the little guy, etc, etc, etc — and saying that they believe the tax cuts should be extended for all Americans.

Do people making over $250,000 really need a tax cut?

Seems to me that they’re doing OK; much better than the average American is fairing in this economic crisis (I won’t call it a recession because it certainly seems much more like a depression — so we’ll leave it a crisis).

The bottom line is we have to pay our bills — and as the Republicans are complaining about the government has been spending out of control… but what they don’t remind you is that George W Bush is responsible for the out of control spending; Barrack Obama and his administration haven’t spent anywhere near as much as George W Bush — and a large amount of what is being spent now is being spent on a war that George W Bush threw this country into (and lied to get the support for it).

I’m well aware that it’s a tenant of Socialism that we take more from those who can afford it, and give it to those who need it…

From each according to his ability, to each according to his need
· Karl Marx, 1875 Critique of the Gotha Program

But in point of fact the American income tax structure has always been based on a progressive tax (those who earn more, pay more); except what happens now is that those who earn enough can avoid taxes by taking advantage of the loop holes the complex laws afford them.

We really need to rework the tax system so that it’s more equitable across the board; and those who benefit greatly from society pay their fair share of the costs of supporting society… but until then, I think getting $700B from those who earn more than a quarter million dollars per year is a necessary step to putting this country back on the road to stability.

Originally posted 2010-09-15 02:00:52.

Humankind and Socialism

I’ve often said that the one fundamental human traits that Karl Marx always failed to consider when he talked about socialism was the intense greed that drives most humans.

Greed, the failing of socialism, is largely the driving force that makes capitalism work.

The United States doesn’t have a totally free market economy; the government regulates many aspects of businesses — perhaps it shouldn’t or perhaps it should regulate more — there’s always a good argument on both sides.

Maybe it’s time that the United States government regulated businesses by exactly the same set of laws that it regulates individuals by.

Giving corporations the exact same rights and privileges, and subjecting them to the exact same legal and tax structure.

Powerful corporations have too long tried to manipulate society and government to satisfy their greed, and such manipulation in the long run puts an undo burden on society.

I see few alternatives for our society to grow and flourish.

Since humans will likely never be able to build a Utopian society, socialism (or any system like it) is not an option… since the powerful (and rich) will it seem always try and manipulate society to satisfy their own selfish greed we cannot depend on them “to do what’s right”.

How then do we build a society that will last and continue to grow?

Level the playing field — through insuring that one tenant of socialism lives on: from each according to their ability (where in this case, ability is wealth).

Long ago when I was much more idealistic I felt that the progressive tax system the United States uses was wrong…

Now I believe that a progressive tax system, with no deductions, treating all individuals and all corporations equally might be the absolute best solution.

Corporations will scream that their profits will suffer — but in the end greedy corporations will pass along those costs to individuals… the ones that will suffer will be the very rich… they will start paying their fair share (those who profit from society should bear a much larger portion of the costs of propagating it).

I’d prefer a better solution, but until humankind changes, we have to deal with realistic solutions to real problems.

Originally posted 2010-06-13 02:00:09.

Volcker’s views being echoed by Obama

Paul Volcker for years has been adamant that banks should not be allowed to use federally insured money to gamble on the market.

Hard to deny that we need to make changes in the way Wall Street and Big Banking does business; remember, we’ve done nothing but bail them out and allow them to make record profits using tax payer money.

I personally believe the right solution is to tax big banking and to make it more profitable for them to break up into smaller (more easily regulated) business units.  This would also make small banks and credit unions much more capable of competing as well as prevent an economic collapse when one or two banks make bad investment decisions.

Originally posted 2010-01-27 01:00:33.

Spending chill…

Obama may propose a discretionary spending freeze for three years.

Hopefully he’ll fully define what discretionary means; I remember the budget surplus (you know, “extra” money when the country had a trillion dollar debt) so I don’t make any assumptions what politicians in Washington mean by any term that they don’t have a clear track record using.

Of course, he’s already exempted the departments of Defense, Homeland Security, and Veterans Affairs (sound like he’s playing to the political right) from the freezes.

I think it’s great to implement “new” ideas to reign in government spending — of course I’d like to see some the “old” ideas (you know — those campaign promises Obama made that got him elected) implemented.

In the back of my mind I see this a yet another failure looming for the Obama presidency.

Originally posted 2010-01-25 20:00:46.