At the outset of this blog project, I was certain that I would maintain my concrete beliefs about Obama and his economic policies all the way through. I felt strongly that Obama and his administration had made some poor decisions with the country’s money and had done little to help the economy, if not making matters worse. Now that I’m nearly finished researching, however, I’ve noticed just how narrow-minded I was. Although I still stand by some of my original ideologies, I feel now that my opinion has evolved away from its narrow mindedness and has become more “fair” – so to speak. I think its safe to claim that I was quite ignorant about the topic at the time in which I undertook it, maybe even a little biased; which is part of the reason that I wanted to research more about it. I just didn’t expect my opinion to change as much as it did. I thought the problem was cut-and-dry. I believed that there was an easy solution to the economy being fixed but man was I wrong. As I began to research more and more, I started to notice that the situation was much more complex than I had previously thought and began to think that Obama’s economic strategies weren’t as bad as they seemed. Actually, some of them helped and are still helping the economy today! I discovered that Obama’s plans had actually created an increase in the welfare of some economic markets. I discovered that consumer spending has been increasing for five straight months now – a sign that the economy is on the verge of pulling out of the recession. Findings such as these really made me contemplate my stance on the topic. I learned so much from my research about things that I never would have known unless I made this blog. I believe that’s the main portion of my growth as a thinker: How the advancement in the level of my knowledge through all of my research allowed me to step away from my one-sided mindset and step into an open and accepting one. Although I still believe in small government, big business economic policy, I agree with some of Obama’s policies that I previously would’ve shrugged off and then laughed at. I have no doubt in my mind that this project will have an impact on the way I position myself towards economic policies for the rest of my life.
Thursday, October 28, 2010
Class Links Post
I have been following this blog that discusses the controversy on the legalization of Marijuana. I really enjoyed keeping up with this blog for a few different reasons. It is very interesting and extremely informative. And Secondly, it is a funny blog at times and gives you the chance to think about less “formal” problems our country is having.
This blog covers the issue stemming from the possible construction of a mosque near Ground Zero. I followed this blog from day one. It’s a very interesting topic, particularly because every American has an opinion regarding what should be done. If you are up to having your beliefs challenged while willing to see the sides of others, then this blog is gold.
This blog is about the controversy with agents in the NCAA. I personally am a HUGE sports fan so I was on this blog like a duck on a June bug. This blog has great information and is very insightful to the problem that it correlates to. I enjoyed keeping up with this blog so much that I’m actually going to try and find another sports-related blog to follow, fancy that?
All of these blogs are very unique and interesting in their own way. So, I urge you to click the link and read up because I actually developed some new beliefs from interacting with some other people's viewpoints in these three blogs.
Links Post
Offers good insight as to what should/could be done to try and fix the economy. The author of the article proposes that we could reduce the budget deficit by cutting welfare and foreign aid.
Offers logical ideas as to what may happen if the problem with our struggling economy goes unsolved.
A great site that back up the “Obamanomics” theory and supports its ideologies by comparing his policies with the successes of Clinton and other noteworthy people.
This is a very informative website whose stance is primarily against Obama and his economics policies. The website includes many reasons for disagreeing with the Obama Administration, some of which include Obama’s confrontation of only the short run and not the long run.
This website offers a rebuttal for all the criticism that Obama is taking. It says that even though the polls are against Obama’s policies, the markets are actually doing better.
This is just an informative website that goes over Obama’s plans to pull us out of our recession.
This source is a review of what Obama and his administration have done in the past two years with the economy. This is a neutral site that offers information from an unbiased viewpoint.
This website offers a new perspective to the debate over Obamanomics. It is against his policies and claims that he is taking over the system in an attempt to destroy capitalism.
This is an article off the Wall Street Journal that explains why Obamanomics is failing. The article hits many points including Medicaid and even the Stimulus Bill.
Mostly an Anti-Obama website. This one claims that the economy wont get better while Obama is bashing President push and Republican leader John Boehner and blaming them for our problem.
Another Anti-Obama website that lists Obamanomics “Top-10” failures. It covers things from the national debt to the stimulus bill.
This link is about Lawrence Summers, the Obama’s chief economic advisor, decision to leave his position in the President’s cabinet. He claims to be very happy with Obama’s policies and commends them on many levels. This is a Pro-Obama site that was extremely useful to me.
Wednesday, October 27, 2010
What could happen (Implications post)
The economy is in bad shape and even Obama has admitted that fixing it should be a top priority. I recently read a great article as to what will happen if we don’t fix our economy as soon as possible. The primary belief is that unemployment will remain very high. The problem of the bad economy can be solved, but the decisions that must be made in order to solve these problems are difficult ones. Many economists don’t fear of another deep recession like the one that we are currently battling out of, but many think that the unemployment rate will remain high until the economy bounces back. These economists are cutting their estimates for growth in GDP. Slower growth means unemployment could remain in the high single digits (or possibly in the double-digits) for years to come and if you are without a job, it makes it very hard to spend money or even pay your bills.
I think that if we do nothing to work this problem out, that a few different things might happen. Firstly, I believe that if this goes unsolved, there could be mass amounts of protest, objection, and unrest towards the American government – something we cannot afford. The unemployment rate is high, and will remain high for a while; maybe until 2014. This alone is reason enough to work even harder to get this fixed. Secondly, despite what some economists might say, the economy might plunge into a “double-dip” recession. Although it is not a certainty, there is still a possibility that such an occurrence might happen. This would be incredibly destructive for the American Government. Unrest would rise, and we might even lose our place as the beacon in the world for hope and prosperity. Even worse, our country may end up bankrupt in as few as twenty years if our economy can’t be turned around. Although highly unlikely, it is still a vague possibility. Budget deficits would eventually become too great for us to pay off and in worse case scenario, most American citizens would not even be able to pay the interest on the American debts unemployment would remain high. In essence, it could be the end of the “American Dream”.
A step back; Reaganomics in Depth
I went back and looked at my theory post and my analysis post and I realized that I might have come across a little biased. I have been, for the most part, leaning so much towards one side that I have almost neglected the other viewpoints. I would like to take some time to take a step back and look at Reaganomics in a little more depth, since I am comparing and contrasting them to Obamanomics so much.
The Reaganomics theory was based upon the belief that government interference stumped the growth of companies, and because this is true these companies could not fully reinvest in the economy. In my analysis post I made a point that Obamanomics and Reaganomics had little in common. This may be true in some aspects so I was not totally wrong, however, they do indeed have many similarities. For example, Obama is actually following the concepts of tax cuts. In fact he has actually provided tax cuts to 95% of American sin an attempt to get the economy going again. Although Reaganomics saw corporate tax cuts and personal income taxes to certain wealth classes, Reaganomics did have some bad aspects. Despite all the tax cuts Reagan saw through, the lower income families and individuals saw taxes rise, suggesting that the “little guys” were not benefiting from government programs like everyone else. It left the blue collar Americans stuck on the rocks.
I honestly am surprised about the similarities between Obamanomics and Reaganomics and am shocked that I overlooked them earlier. Perhaps Obamanomics is not quite as bad as it seems. The markets are in-fact showing improvement and the unemployment rate has ceased (at least for the time being) to climb.
Thursday, October 21, 2010
Mental Health Break
http://4.bp.blogspot.com/_PS9cbm5v2uw/TGBUPcHkX2I/AAAAAAAAAXI/7jv9ToyR-Jk/s1600/Obamanomics.jpg
First glance at this political cartoon implies a negative connotation. However, I find that it argues for both sides. It shows the economy wrecked and Obama in the drivers seat, but it doesn't say who was driving when the economy crashed. I like to think that This cartoon argues for both sides. Firstly that we do need to move forward because the economy needs it (its in ruins) and Obama will lead us there. On the other side you can view it as Obama being the sole culprit. Very interesting cartoon in my eyes!
First glance at this political cartoon implies a negative connotation. However, I find that it argues for both sides. It shows the economy wrecked and Obama in the drivers seat, but it doesn't say who was driving when the economy crashed. I like to think that This cartoon argues for both sides. Firstly that we do need to move forward because the economy needs it (its in ruins) and Obama will lead us there. On the other side you can view it as Obama being the sole culprit. Very interesting cartoon in my eyes!
Tuesday, October 19, 2010
Watch this video.
This video does a really great job contrasting between Obamanomics and Reaganomics. Just kind of reiterates my point that Obamanomics is, when compared to more successful methods, seems to be less successful.
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