Friday, July 16, 2010

I don't understand why people are raging on Obama

I don't know why people are raging on Obama so much. He's cut your payroll taxes, standardized health care to eliminate paper work waste (I don't have to hire a constant now to give my employees a medical plan-I save ALOT of money.) and cut the wasteful F-22 program (George W. Bush spent years trying to cut that!). Plus we have credit card reform to eliminate harmful lending.

I personally think the herd mentality is ganging up on Obama because he promised the moon and only delivered half of the moon to our doorstep. (The stimulus program will cause waste! Oh no! When has that ever happened!?) People were worried about a collapse and the stimulus averted that herd panic-that's all that is went meant for-providing funds to fix broken bridges and roads was secondary. (Herd panics are important-if everyone withdraws there savings, the bank system will collapse and small businesses that provide 80% of the jobs of the American economy can't get funding to handle tough times, to expand or even start.) 

The reason you don't have jobs in this economy is people rather enter real estate (and construction) and get rich quick then enter harder fields such as a science or even a trade (electrician) that make things or develop real expertise that can be sold. No magic wand Obama will wave will change that.

In my opinion the only thing he deserves flak for is the banks (well that and offshore drilling & ACTA treaty), namely with AIG. AIG with government money still insurance upto a 100% rather then the government use it's power as a sovereign entity to change the contracts to make it 95% or 90%. Since banks are guaranteed a full return of there money they just foreclose on the homeowners rather then work with them and pocket the money.

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