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InvisibleBlack -> RE: Thoughts on President Obama's Job Summit? (11/12/2009 9:04:36 PM)
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quote:
ORIGINAL: Sanity
There you go. If you're going to spread it, spread it thick... [:D]
quote:
ORIGINAL: MzMia
nooooooooo
Ronald Reagan is the Republican that helped get us in the mess we
are in now.
While I don't believe that Ronald Reagan had much to do with our current financial problems, I don't think it's fair to say that if only John McCain had been elected things would have been different. McCain admitted that he "knew nothing about economics" (for which, actually, I salute him) but his official (and later unofficial) economic advisor during the campaign was Phil Gramm, who was the primary author of the Financial Services Modernization Act of 1999 - which laid a lot of the groundwork for the problems we have.
Of course, Barack Obama's economic advisor was Robert Rubin, who's probably equally to blame for creating the framework that led to the total fiscal meltdown of the market and his current economic team is mostly made up of Robert Rubin's proteges.
Part of what I find so appalling is that the last election pretty much offered no difference in fiscal or economic policy - which is pretty scary when you consider the huge difference in the backgrounds, views, beliefs and histories of the two candidates.
As regards the OP - unless the economic team working for the current administration changes drastically, I don't expect you're going to see any marked difference in policy at all. The response I've come to expect will be something along the lines of "the reason why things haven't recovered is not because we need to change our policies or our tactics, but because we didn't do them enough and if only we do the same things, only a LOT MORE SO, things will get better". I wouldn't hold my breath for any serious change in the near future.
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