Quote:
Originally Posted by tke1600
Read up on "false economy" and that will be Obama's legacy in 5-10 years. The $9,000,000,000,000 in extra debt was Obama using America's credit card to make things better now, but will come at a very high cost, very quickly in the future. The Fed has also kept the interest rate low for far too long that will also cause another small market meltdown when it finally rises. Add in the losses and failure that obamacare is already experiencing, this mess will be hard for anyone who is President in the next couple of terms to fix. Obama is a great speaker with a lot of personality and swag, but is terrible at actually running the country.
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I totally get it on the debt and fed front. Until a President steps in and really tackles the cost side of health care rather than just coverage (my biggest gripe with ACA and why I would have voted it down even though I am in favor of national healthcare) and shrink our defense budget significantly, each president will out do the previous with debt spending. Clinton has been the only one to shrink it in the last 50 years. As far as the Fed, we will never know if the "let it burn and rebuild" crowd was correct in 2008.
Since we are still standing and recovered, I am going with the optimistic approach and say the policies worked for the most part. The trick as you say is to ease the economy off the Fed help and let it run on its own. At least we have pulled back all (most?) of the quantitative easing.
10-19-2016, 10:14 AM
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