US economy

Last year, Senator and presidential candidate John McCain used the phrase "The fundamentals of the economy are strong, but these are very, very difficult times, I promise you, we will never put America in this position again. We will clean up Wall Street." He was mocked and attacked for this comment as a "denier" of the state of the economy when he clearly expressed that we are in trouble. He was being an optimist by saying that our economy is a strong one and it will recover--something President Franklin D. Roosevelt would have applauded.

The economy is a very difficult subject to understand, everyone thinks their method is best. The problem being that the economy is such an open system that it is hard to determine for sure the best economic policy which would result in the best economy as well as the best society (the society part can complicate the issue). However, what we can do is look at all the countries using certain economic policies and then look at their results and create some sort of scientific index.

Power Line posted a very funny cartoon that explains our current state of the US economy. What's sad is, for some companies this analogy fits perfectly. This is why the free market is so important and why people are against bailouts. Government should be trying its best to restore competition and free market. Monopolies, greedy executives, and poor standards are what the government should be fighting. Did you ever wonder why the economy is the way it is?

Tim Geithner the secretary of treasury who was so strongly defended by the Obama administration because he was the only candidate for the job, came up with a plan--except that it wasn't really a plan it was more of a disorganized movement toward action.

Unemployment figures keep rising and everyone is wondering what the Democrats are going to do about it. Even though the Democrats who caused the housing crisis via the CRA are mostly at fault. It gets worse--the Democrats are not only the cause of the problem and have successfully but falsely blamed it on the Republican president--they are not really fixing the problem.

The Congressional Budget Office said that the Obama stimulus package will hurt the economy in the long run. This came as bad news for Democrats in a day when they were trying to convince even Republicans to vote for the bill.

Hot Air brought up an interesting point: If the Democrats want a spending bill to stimulate the economy, then why are they trying to reduce/cut funding for the F22 Raptor fighter jet? It employs nearly 95,000 people including thousands of suppliers for parts. Not to mention it is American made.

John McCain launched a petition and sent it to the mail box of almost every Republican and John McCain supporter in the country. John McCain takes a final stand for fiscal conservatism and encourages the government to be responsible--to protect the consumers and keep competition balanced.

It is great news that Republicans in Senate and Congress are getting together to demand the change they believe in for helping America pull out of this problem. Republicans want relief for housing market and tax cuts for the people and small businesses in order to stimulate the economy. Just bailing out big companies doesn't help. Back of America was bailed out the other day, and instead they sponsored a Super Bowl party for some reason.

President Obama needs to take a stand--he needs to realize that Franklin Roosevelt's New Deal did not stop the Great Depression. The Great Depression ended because of World War II spending and investment. What FDR did correctly was fix the banking system and make it safer for consumers to store their money and not have to worry about getting the money back.