Quote:
Originally Posted by Weiser Wonder
Agreed, he isn't doing a great job. What I'm saying is, you can't use the poor economy as proof Obama's policies are bad. As his policies either haven't been implemented or only affect the very long term. However, if he appoints Elizabeth Warren to the head of the new consumer protection agency, he will have done something right to solidify the economy long term.
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Appointing people to look after something does little to nothing to actually fix the problems.
You pointed out the bank regulation as an important reason why countries like Canada, Germany, India are doing so well. While it is true that we didn't get caught in the sub-prime mortgage crisis up north, Obama did pass a HUGE regulation bill. And a lot of people are confused with the intent since if you can actually manage to read or understand the damn thing, it does nothing to fix the banking regulation problems that existed. It just adds more regulation, and makes things even more confusing.
Cowperson pointed out in a different thread, or it might have actually been here in this thread that American companies are sitting on trillions in cash waiting to see what Obama is going to do. How long are they going to sit and wait before they invest somewhere else? A trillion dollars in private money would do 1000x more to the economy than the stimulus bill, and that is exactly what the US is lacking right now.
I blame that directly on Obama and his policies. Poor regulation caused the problems, but the fact that the economy seemed to improve was directly related to the public side creating what in most cases were short term jobs(IRS, census), and the private side just sitting and waiting.