I certainly don’t consider myself to be an expert on matters of budget, finance, or the world economic picture … still, at a man that has managed to save to the degree that I only pay cash for his automobiles, house, and frankly, everything else he owns; I think I have earned the right to make a few observations.
To date I am rather happy with the new presidents performance. While it is not flawless, he brings about a certain humanity that few can dispute is a breath of fresh air. He makes mistakes, apologizes, then sets about correcting them. He make no excuses, he simply keeps his shoulder to the grindstone, which is more than I think a lot of us actually expected. I commend his recent decision to cancel the presidential helicopter program but I am somewhat baffled at his recent comment that all of us would see fewer deductions out of our paychecks while shooting for cutting the deficit by 50% within the confines of his first term in office.
Don’t get me wrong; I like the idea, I just don’t quite see how it’s going to work. To conquer such a financial burden it suggests, at minimum, keeping the tax program much like it is, but perhaps pulling back some of the overly generous gifts the last administration gave to the “haves”; then applying the maximum toward paying down the debt. Granted, stimulating growth and recovery will do a lot, but keeping the percentages the same would suggest the pay down would also happen quicker.
Seeing that the stimulus package is actually a series of loans makes sense, after all, how can you give something and receive nothing in return, especially when it’s money? Printing more will only cheapen the value of the existing dollar and the Nazi’s learned towards the end of their war, where people required a bushel basket of cash for a simple loaf of bread. It isn’t the volume of cash but the value of cash that is important.
And nationalizing banks? Hmmmm … I certainly hope that doesn’t come true, but revamping the Federal Reserve System is certainly long over due and putting the regulation in place that separated banks, investments, real estate & insurance industries is just common sense. The claim of deregulation just didn’t pan out and until a time comes when stealing a persons savings and pension earns a death penalty, I doubt that no regulation will ever guarantee no hanky panky.
I don’t expect to make any fast decisions, but for now I remain optimistic and hopeful. Frankly, even if it all blows up, I feel something that I haven’t felt for a chief of state in a very long time. Trust … and that, my friends is exactly what we will need to turn this whole mess around.
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read more blogs!
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SallyF
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Feb 23 @ 10:22PM
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Thank you for writing this. I 'sing' in the same choir, but don't compose as well as you do. 
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lazareth
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Feb 23 @ 10:48PM
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my hsuband and I pay cash for everything as well.... we have no debt, and have our retirement fund is doing ok.
While I am not financially/ politically "savy" I must say it overwhelms me to think of the debt this country is in now. I'm not old enough to remember the great depression, but I do remember how things were a bit rough in the 70's for my parents ....
I know it's going to get worse before it gets better and I'm a firm believer in "tightening one's belt" ...... but things are really frightening right now for many people.
I pray that those in office know what they are doing..... I don't envy them one bit
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imlost2
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Feb 24 @ 9:01AM
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I am the same way, I pay cash for everything, I don't have loans on my cars etc. however, the Government wants us to spend money either through credit or cash to turn the economy around. I just don't know how this is going to happen because I, like many don't have extra to do it with. I have to save up, and when I have enough, I buy what I need. Many times now a days, I just go without. For example last year, we didn't show the horses nearly as much as we did the year before at all because we couldn't afford it and just did without. That is considered a luxury. Just putting food on the table is a chore now. I don't think I'm alone here. Take care Lost
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ttomtarr
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Feb 24 @ 9:09AM
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While Obama might not be in agreement with all my ideas, we definately needed to make a major change of direction, rather than "staying the course", and adding four more years of movement to the previous eight years of going down the road to disaster.
Doing nothing won't work, and given the situation, anything he does won't work perfectly. Not the least of his challenges is to round up a cabinet of able, untainted managers out of the moral cesspool that is Wshington, DC.
Without doubt, he is our present best hope, and we should do what we can to make his stated goals succeed. But, this does not rule out the healthy criticism that was wisely built into our government by its founders.
We citizens have a balancing act to perform , too.
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jelltex
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Mar 4 @ 8:40AM
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Its the same over here; borrowing to spend more. That seems to have got us in the hole we're in. I sure hope it works and that The Prez does good work there.
Hope all is well with you, Al.
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