Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Politics of Energy -- Ignore unavailable to you. Want to Upgrade?

To: Brumar89 who wrote (6641)	3/27/2009 5:42:25 PM
From: RetiredNow	Read Replies (1) \| Respond to of 86355

The country as a whole did get poorer. The wealth wiped out in 2008 alone was enough to put most people in the red over that 8 year period. Even more, real wages sank for the 99%, even as the top 1% saw real wages increase. As far as your job count, it's true that this country needs to generate 7.2 million jobs over the next 4 years to maintain the current employment rate. Obama's plan of 3 million jobs doesn't make as much of a dent in that as we need. However, we'll have to see if the economic recovery package and his budget plans will kick start the private sector spending again. If it does, then the 3M in jobs his spending directly creates will be supplemented by that much or more private sector jobs, which will then begin to get us back to full employment. But, I think you now see how bad a shape we are in and how extraordinary the efforts need to be to turn it around. These are scary times and inaction is the worst of all possible courses. Right after 9/11, I remember telling most of my friends and my family, "Thank God we have Bush and the Republicans in power at this time. Our response will be fast, fierce, and exactly what is needed." I still stand by those words. Our initial response was exactly what was needed, although he later made too many errors in judgment for my taste. Now, I have watched as this economic travesty has unfolded and I say, "Thank God we have Obama in power at this time. His response has been fast, pragmatic, and intelligent, and he's will to pursue rational experimentation if some policies don't work. His focus on renewable energy for long term prosperity is right on. And the GOP's ideas of tax cuts for the rich and continued lax regulation in the finance industry are exactly the wrong ideas for what ails the economy." We'll see by the end of his term, if I will have been wrong to have put my faith in and my vote on Obama.