I guess yawl know how much King means to me. He was one of many that informed me of the importance of intellect and thinking for yourself and not accepting what people tell you and/or following blindly. I went to the tomb to respect my elder. It made me feel good, and reinforced that I still was challenged to the task such elders engendered in me.
I have said that I did not Vote for Obama or any of them other same ole lame okie dokes. My logic which many of you said was foolish, and self righteous, was neither to me. As I pointed out I voted for not the man, nor the party, but the policy. And if I must accept blame for seeing no difference in word on paper between the two – then so be it. Likewise, If I decided to study in an applied manner what they say they will do in concert with the problem that needs to be addressed, with the economy for example, and it is my conclusion such is far fetched, I will say such.
I particular felt this way about several things. Both he and McCain said the basic: I will lower taxes, I will reduce the deficit, and I will grow the economy. I want jones to be a success, but I will not reduce my penchant to evaluate his suggestions just as rigorously as I did the recent candidates, or past presidents regardless of party affiliation, nor will I give him a past. Unlike many I don’t see jones as the first black president, I see him as a president, who happens to be black.
Now some may say I need to get a life, for over the past day I have mulled over his economic position papers as well as his speeches on the economy and his latest transcript from his first press conference as the President elect. But it is my life to make certain I am in a stable milieu in which my kids and I can prosper economically.
I still feel that my note selecting either he nor McCain was based on logic. Re-reading I feel vindicated. What Obama has said and has [proposed on paper is just as bad as what Paulson and Bernake suggested with the bailout which he and McCain supported. All he proposes, either the break for 85% of Americans or raising taxes on the rich wont work and is just a tweak on a system that will not have any long term effect on a problem that has been building via debt collaterilization since the 1980s. The system needs to be gutted, not tweaked for our economy is riddled with structural problems – namely that we have a closed economy in a global world. This means he wont be able to raise taxes on the rich or cut taxes for poor folks like me.
Couple this with the fact that the bailout has had the opposite impact that Paulson has desired, the deficit is at about another trillion dollars and we still do not know how the money is being spent with respect to the Troubled Asset Relief Program (TARP), Obama as we have – are sitting on a ticking time bomb. None of his solutions even include the aforementioned.
In two days since his historic victory, the Dow dropped as much as it did in September 1987 although 200 plus points were gained on Friday. For me it is a policy as opposed to an individual issue. He needs to address the volatility (which is a sign of investor confidence (so folk like me put loot back in the market), the housing crisis (which is getting worse) and stabilizing consumption (creating jobs, cause black folks are the only ones spending in a depression for we don’t know how to save anymore). As well as the structural concerns I have sited previously. For if he attempts to raise taxes on the rich – I just have two words - Sarbanes-Oxley, which means folks will move over seas to start new businesses than stay home in the states. Then he has not even addressed or considered revamping value-asset accounting principles nor obviating the Commodity Futures Modernization Act – which are two things that got us in this mess. Let alone accept the premise that folk like me don’t believe we should give banks money to buy other banks – especially when you talk about main street.
True he does mention job creation, but all I have read is the mantra of “new Green Jobs” without any relationship to reformulating the economic conundrum we are in and confronting currently. True, I am no economist, but I read and I try to use reason, but there is a lot more needed. It kills me when I read and hear folks say “freedom”, or “we aint got 40 acres and a mule but we got Obama”, or “Abolition” to describe his historic win, but go out and party and don’t feel as if they have a roll in this, and can see he is just one man, makes me feel that many think things have changed, without asking has America changed? I say no. It will be on us all for there is no such thing as magic. Something must be said with reason over feeling and emotion because although he won, most folks a pay check away from a pink slip.