Night and Day, “Obama’s ‘disastrous’ economic plan” edition
The One in February:
In San Antonio on Tuesday, Obama said that Clinton’s foreclosure freeze was potentially “disastrous,” rewarding “people who made this problem worse” by benefiting banks that profit from high mortgage rates.
That One today:
Obama today rolls out another set of proposals for dealing with the economic crisis, one focused more on the human consequences of the crisis.
The plan includes helping out states and localities, allowing people to cash out part of their retirement savings without tax penalties, and an arrangement with banks that would include a 90-day moratorium on foreclosures for many homeowners.
The plan is a striking sign of how far this crisis has moved, and a sign that Obama has shifted toward a more populist approach. In February, after Hillary Clinton proposed a similar foreclosure moratorium, the Los Angeles Times reported that Obama condemned her plan…
Why, if I didn’t know any better, I’d swear the man doesn’t stand for anything and is just making up crap as he goes along, saying things that he thinks people want to hear.
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Among his many attributes, obama is a finance/economics moron who’se lack of knowledge ‘shines’ through every time he tries to come up with another ‘proposal’ to save the world.
During his last debate he was ranting about how he’d slap more taxes ‘only’ on big businesses, those making “over $200,000/year”. I was literally squirming in my chair when Mac let that opportunity slip. For starters 90% of Americans work for such businessess, and by and large everyone with a IRA or 401K out there owns shares in those big bad businesses. When your employer faces additional costs, in the form of increased tax liability, my guess would be that said employer would look to cut expenses somewhere else. Given that labor tends to be the biggest business cost in this country, even a financial moron can see that… anyway…
Now what else happens when we slap big bad businesses them with more taxes? Why, their stock tends to display marginal performance, of course; hint-IRAs, hint-retiring baby boomers…
Comment by Hunter | October 13, 2008
Hunter, the Obamorons don’t care about pesky things like 401K’s and retirement. They believe their new Socialist Gov’ment Savior will take care of them. Heh….
Comment by Kanaka Girl | October 14, 2008
Now… didn’t we see how that worked out in Russia and Eastern Europe?!!!!
Comment by Hunter | October 14, 2008