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Thread: Obama to lay out new economic plan Wednesday

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    Obama to lay out new economic plan Wednesday

    With less than two months to go until a critical midterm election likely to turn on the economy, President Obama this week will lay out a new plan that includes a proposal to extend a tax cut popular with the business community, according to an administration official.
    This recession has been rough, progress will be slow which I think a lot of Americans still don't realize. I think a lot of people expected Obama to come in and with a flick of his finger drag us out of this recession.

    Would we have been better with McCain though? I am fairly certain he would have turned to tax cuts, although we have realized that isn't the answer. Maybe he would have but I doubt it. I am sure the economy would still be slumping. This isn't something that can be mended in 4 years.
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    Re: Obama to lay out new economic plan Wednesday

    Quote Originally Posted by BCR View Post
    This recession has been rough, progress will be slow which I think a lot of Americans still don't realize. I think a lot of people expected Obama to come in and with a flick of his finger drag us out of this recession.

    Would we have been better with McCain though? I am fairly certain he would have turned to tax cuts, although we have realized that isn't the answer. Maybe he would have but I doubt it. I am sure the economy would still be slumping. This isn't something that can be mended in 4 years.
    We have now had 45 months...just shy of 4 years of a democrat controlled house and senate. What exactly is supposed to be different?

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    Re: Obama to lay out new economic plan Wednesday

    Quote Originally Posted by BCR View Post
    I am fairly certain he would have turned to tax cuts, although we have realized that isn't the answer.
    Yeah cause what, JFK, Reagan Bush did, with them tax cuts, and subsequent economic booms.,.. that was luck. We ALL know that tax hikes and Gov't mandates move the economy. Just ask the Soviets about that.
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    Re: Obama to lay out new economic plan Wednesday

    Do you have a link to the article? I'm curious as to what the business tax cut is that Obama wants to extend. I hope it's the one that allows small businesses to expense capital expenditures immediately, instead of making them space it out over time. That's a very good tax cut, and should be expanded to include large businesses.

    I agree with you though. For the most part, tax cuts aren't the right answer...or at least, not the best answer. While they do stimulate the economy, they simply don't do it as effectively as direct government expenditures do. I would like to see another round of stimulus, focused on three specific goals: Extending and increasing unemployment benefits, providing aid directly to the states, and funding long-term infrastructure projects.
    Last edited by Kandahar; 09-05-10 at 08:10 PM.
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    Re: Obama to lay out new economic plan Wednesday

    Quote Originally Posted by MrVicchio View Post
    Yeah cause what, JFK, Reagan Bush did, with them tax cuts, and subsequent economic booms.,.. that was luck. We ALL know that tax hikes and Gov't mandates move the economy. Just ask the Soviets about that.
    Well, since tax cuts always help the economy, we should just cut taxes to 0%! Then we'll have an AMAZING economy, right?
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    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

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