Capital Commerce

Obamanomics on Display

By

August 25, 2008 RSS Feed Print
  • Comment (1)

Related Articles

DENVER—Right now I am watching a panel on the American economy. There are no business people. No entrepreneurs. (What about the Google guys?) And it is hosted by free-trade critic Sen. Sherrod Brown of Ohio. They are answering video questions, and in one this "regular guy" asks what Obama is going to do for the middle class. Former (Bill) Clinton economic adviser Laura Tyson gives this answer: Obama will give you a $1000 tax credit and spend money on education and healthcare. No mention that we have the second highest corporate tax rate in the world. (That suppresses worker wages and job growth.) No mention that we face a $600 billion deficit next year. Strange.

Tags:
Democratic Party,
Democratic National Convention,
economics,
2008 presidential election,
Barack Obama,
economy

Reader Comments Read all comments (1)

Add Your Thoughts
Your comment will be posted immediately, unless it is spam or contains profanity. For more information, please see our Comments FAQ.

Pander, pander, pander, pander. That is all the economic advisers of Barack Obama is doing. Many know what to do to address economic growth and many know that the Bush Administration got one part right, but messed up on the other part (namably, not addressing spending). Many also know that "lifting all boats", to use a tired term, is a long term process and that redistributing income is an unproven way to address the needs of any class of individuals. But we get these same tired proposals of pandering to the masses.

What's sad is that people continue to buy these proposals without thinking them through. Get a $1000 tax credit? Okay, fine. Then how are we going to finance that tax credit? What other spending cuts will we make elsewhere? How can you expect to spend more money on education and healthcare and still afford to give us a $1,000 tax credit? No one ever stops to ask these questions and how we address them.

Chris of AZ 11:01PM August 25, 2008

Capital Commerce

U.S. News business reporter Matthew Bandyk examines the issues, people, and debates that shape the nexus of political and economic life in the nation's capital.

advertisement

advertisement

Editor's Picks

Investing Money»
10 Books Investors Should Read

Here is a list of timeless big-picture investing books that explain things like the relationship of skill to luck, the power of large numbers, and the nature of risk.

Personal Finance»
50 Ways to Improve Your Finances in 2013
Closeup of a street speed limit sign saying '50', on an angle.
Your Retirement»
Best Places to Retire for Under $40,000

Low housing costs coupled with the amenities retirees need make these cities great places to retire on an income of less than $40,000 per year.

Your Career»
The 100 Best Jobs for 2013
Find an online degree
Investing Money»
Best Mutual Funds
Best ETFs

Research thousands of mutual funds and ETFs to find the right investment for you.