From his eloquent statements, I was under the opinion that Mr. Obama would not support the “reckless spending” that was reflective of the last 8 years – but his actions indicate otherwise. Obama talks about reigning in spending but his policies after reading are just as, if not even more reckless. Although I say this, I am inclined to give the President-Elect the benefit of the doubt. But things are drastic and not just from last January, but even more than when he was elected in November.
I just hope that his desire to be seen as a moderate or centrist doesn’t reduce his ability to give us folks what we need for economic prosperity. The nation's unemployment rate got to 7.2 percent in December, and based on Labor Department's report, it is only going to get worse for President-elect Barack Obama. My concern is both pragmatic and rhetorical. His focus for Congress to "act boldly and act now," will just be a short-term fix and will not do ANYTHING to end the recession – it will be a while before this is over. Not to mention that his approach on taxes in contradict his own objectives (providing more discretionary income for middle-class families). Because if such was his desire, he would see that middle-class tax cuts amount to more loot than planned taxes for folks making more than $250,000 annually. All I am saying is that true, we need to take urgent and significant measure to deal with the economy, but they need to be reasoned and pragmatic. Taxing folks over 250k will only in my logic, make them move loot overseas to safe havens. If they were allowed to keep more of their loot, they would most likely save more, invest more, making more loot available for lending and more jobs. I don’t know where he got this advice from, I hope not Robert Rubin, who just resigned from being the head of CitiGroup ($20 Billion in losses last year). Whatever the case, things are bad, robberies are increasing and I am sure homeless shelters are becoming over-crowed nationwide. But then again, what do I know, its all speculation on my half. God Speed Mr. Obama, God speed.