THE ECONOMY

Dear Mr. President

Advice from seven Nobel laureates on fixing the economy.

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  • Posted By: Fremord @ 11/12/2008 7:44:14 AM

    The second thing I would do is to give a tax credit for health care ( in addition to the mortgage interest deduction) to anyone paying a mortgage, for so long as they continue to pay the mortgage, again, another step toward universal health care for another segment, plus gives huge incentive to NOT file bankruptcy..

    I would also defer or eliminate taxes on the interest banks earn on mortgages, so long as the interest rate was under 6%; this would encourage those predatory lenders to wise up and perhaps encourage investors to buy those mortgages at new rates

  • Posted By: Fremord @ 11/12/2008 7:06:42 AM

    What I would do: Bail out GM; HOW? implement John Mc Cain's idea; take over the GM health care costs by giving all auto workers a $10,000 health care credit and abrogating the auto co's contracts to provide such care; instant cash bail out plus a start on universal health care. something we want to do anyway.

  • Posted By: Nowforsomemoretruth @ 11/01/2008 10:34:06 PM

    The problem with Obama is a simple one. One association does not a radical make. But in Obama's case, the list of left-wing radical mentors and associates is seemingly endless, (Davis, Ayers, Wright, Khalidi , etc., etc.) with a new revelation practically every day. With that, a picture begins to emerge, and that picture is that Obama is as steeped, not in just left-wing political thought, but in radical left-wing and race ideology, to the same extent that Pat Robertson was steeped in the ideology of the radical Religious Right. I would not have voted for Pat Robertson for dog catcher, and for similar reasons, I will not vote for Obama.

  • Posted By: Vote Now @ 10/31/2008 7:56:54 AM

    BUSHES LITTLE SIDEKICK
    I follow an economist named Bob Proctor. He has called the top and bottom of every market crash since the 70s correctly.
    He perfectly predicted the current meltdown and the picture he paints about what will happen next
    is terrifying.He thinks it will be worse then the great depression.
    The banks in the U.S. are going under one after the other. Countrywide ,Bear Stearns, Lehman Brothers and Merrill Lynch , Fanny and Freddy Mae ,AIG
    The government took them over because they are bankrupt. Even with the goverment nationalizing hundreds of billions of dollars in debt the stock market is crashing
    the credit markets are frozen and all of us may suffer beyond anything seen in generations
    McCain just like Bush " doesn't understand the economy".
    That not just my opinion its his own words. Not only does he not understand how to fix it but he does not understand how its been broken.
    It is no surprise that he doesn't. The people that make up these securities use quantum mathematical models very few people understand.
    Bush and McCain both can take the credit for this mess since they helped deregulate the laws that were protecting us.
    Bush's economic advisor Phil Graham wrote the deregulation bill that allowed banks to take huge risks with all of our future.
    Now, Phil Graham is the head of McCain's economic policy.He is also McCain's choice for the next secretary of the treasury.
    No one in this country can afford for that to happen. . Phil Graham had the guts to say that we are in a mental recession after he helped create the worst economy meltdown in our lifetime. Check out this link to the truth http://my.barackobama.com/keatingvideo
    It will take the best and brightest minds in the world to get us out of this nightmare. As bad as Bush has done, McCain would be
    even more destructive because things are in much worse shape. The next president will not inherit a budget surplus like Bush did but a crashing economy and a 11,600,000,000,000 (trillion) dollars deficit. Most of it Bush created and it will take decades to pay it back.
    If you do what you have always done then you will get what you have always got.
    When it comes to policy Bush and McCain are the same 90 percent of the time.
    If you are tired of going back instead of forward hold them accountable this time
    This is our last chance to cushion the impact of of a economic meteor.
    If mccain cant use a computer even to send email do you really hes qualified to run our country during a depression
    Your common sense knows the answer

    Bush may not be on the ballot this year but his policies are
    You can have more of the same our we can turn the page NOW
    Elect Obama Biden 2008






    Check out this video of sarah palins interview and ask your self if she understands what she is talking about.
    http://www.youtube.com/watch?v=r36Xc0GG4iQ

  • Posted By: Nins @ 10/30/2008 2:50:58 PM

    NowfortheTruth, why did you change your name to NowforsomemoreTruth?

    I know that you are the same person, because you are posting the same blogs you did before, cut and pasted.

    Could it be that Newsweek suspended your posting privileges, and you have varied your username in an attempt to fool the system?

    I wonder.

  • Posted By: Nins @ 10/30/2008 2:48:03 PM

    Obama has 63 Nobel Laureates working on his policy team. They are developing a plan to push America back to the top. Who is responsible for McCain's planning? Americans would be shocked to find that Douglas Holtz-Eakin is the sole person responsible for planning McCain's policy for America's future. Holtz-Eakin is also McCain's economic advisor, filling two full time positions on McCain's team. How can one single man (an economist) be responsible for developing a viable technology plan for our future? Obama has an enormous pool of the most intelligent, talented men and women in America working for him. Soon, they will be working for US.

    And let's not forget that the McCain campaign spent more on Palin's makeup artist than it did on it's foreign policy advisor. When you pay your makeup artist DOUBLE what you pay your foreign policy advisor, it is time to start examining your priorities.

    You look just fine without makeup, John. And Sarah is young enough not to need any. So cut the crap, and start paying some good ECONOMIC ADVISORS so you can have a fiscal plan to present to America. We're in the middle of a huge global financial meltdown, and you are worried about hair and makeup? PLEASE start worrying about the middle class, John. Please.

  • Posted By: Nins @ 10/30/2008 2:47:11 PM

    Honestly, looking at McCain and Obama objectively (without any party affiliation or any racism) I really can't see why anybody would vote for McCain. Obama has offered a much more coherent plan to get America out of the economic disaster we are in.

    Right now, most people are anxious about the economy, fearing the worst but hoping for the best.

    Reality check: within 18 months YOU could be standing in a bread line. That's how bad it really is. And Obama will work actively to prevent this short term, as well as make us strong again long term. As much as I like McCain and admire his patriotism, he really is not up for the job, not now with the global markets falling apart.


    Obama's economic plan can be found at:

    http://www.barackobama.com/issues/economy/index.php

  • Posted By: ANNEXED @ 10/28/2008 6:44:05 PM

    my comment is referring to a statement by Edward C. Prescott. "We've already developed less expensive walk-in clinics, and a market is developing for cheaper and better home health care for the elderly." i think hes mistaken in this regard because hes obviously never used these "less expensive walk-in clinics". they tend to be dirty, understaffed, and on several occasions i have been given the wrong prognosis. although this development is cheaper when compared with an emergency room bill it still only disenfranchises a growing majority of Americans. i don't expect a handout, after all nothing in life is free.but to be herded to specific places for medical or dental care is like having color oriented bathrooms. too consider this smite as a positive solution, he should have his noble taken away from him or at the very least forced to get all his medical care from such a facility. the only positives he'll find is a strong resilience to pain.

    • Posted By: Lee Holmes @ 10/29/2008 3:30:55 PM

      Ah,but that is precisely what David Axelrod already did.

      The Washington Post reported on July 28,2008 that Obama sent an earmark to his wifes employer at the University of Chicago Medical Center. After reciept of the earmark,Michelle Obamas salary went up 105%[while not germain to this particular discussion,the next will be].
      At Obamas urging,the hospital hired the firm of a Mr. David Axelrod[here is where the Chicago Tribune comes in].
      Axelrods firm copped a large portion of the already Obama-earmarked money to ''streamline''and create ''fiscal improvements''for the hospital. The first move was to boot into the street no-insurance and poorer patients and send these to ''clinics''and the Cook County hospital[''dirty,understaffed''],freeing up more beds and staff at UCMC for the hoi-palloi. A series of protests launched at UC by citizen advocates was confined to the Chicago press solely. The wider national media,already in bed with Obama,did not want to see Chicago ''community organizers''mucking up the resume of another self-advertised one,especially as the dots between Obama,Axelrod,and Michelle,were too easy to connect. NEWSWEAK has never discussed this. Neither has O'Reillys blowhard opposite numbers Chris Matthews or Keith Olbermann. Most of what we already know of this crummy deal comes from Chicago,and an A-24 article in the above WaPo.

  • Posted By: Nins @ 10/27/2008 6:21:36 PM

    NowfortheTruth asserts that the goal of community organizing is to "redistribute wealth."

    The real goal of community organizing is to assemble political power for those who historically have had none: the poor and minorities. Some community organizations exist to redress the fact that white banks have refused to loan money to black clients. If you want to call this "redistribution of wealth," go right ahead. The rest us will continue to call it racism.

    And when it comes to discussing "redistribution of wealth" and calling Obama a socialist, it is time for you to rethink that strategy. You might be stepping into a huge pile of dog doo-doo, Now fortheTruth.

    Did you see McCain on Meet the Press this Sunday? Tom Brokaw played two clips of when McCain was against the 2001 and 2003 Bush tax cuts for the wealthy. McCain sings the praises of "redistribution of wealth" and says "wealthy people can afford more taxes."

    When McCain opposed the Bush tax cuts for the wealthy, he said that he was taking a "principled stance." But when Obama opposes these same tax cuts, McCain labels Obama as a "socialist." Nice double standard, John.

    The doo-doo gets deeper, Now for the Dog Stuff on my Hoof.

    • Posted By: Nowforthetruth @ 10/27/2008 8:34:06 PM

      You are incorrect, and misquoting, My post clearly states that is Obama's stated perspective in the video cited. I'll thank you to go fix your error in your posts througout this site.

      • Posted By: Nins @ 10/28/2008 4:49:58 PM

        Soory, Dude, I'm too busy fixing the errors in YOUR posts.

  • Posted By: Nins @ 10/28/2008 4:49:06 PM

    Obama has 63 Nobel Laureates working on his policy team. They are developing a plan to push America back to the top. Who is responsible for McCain's planning? Americans would be shocked to find that Douglas Holtz-Eakin is the sole person responsible for planning McCain's policy for America's future. Holtz-Eakin is also McCain's economic advisor, filling two full time positions on McCain's team. How can one single man (an economist) be responsible for developing a viable technology plan for our future? Obama has an enormous pool of the most intelligent, talented men and women in America working for him. Soon, they will be working for US.

    And let's not forget that the McCain campaign spent more on Palin's makeup artist than it did on it's foreign policy advisor. When you pay your makeup artist DOUBLE what you pay your foreign policy advisor, it is time to start examining your priorities.

    You look just fine without makeup, John. And Sarah is young enough not to need any. So cut the crap, and start paying some good ECONOMIC ADVISORS so you can have a fiscal plan to present to America. We're in the middle of a huge global financial meltdown, and you are worried about hair and makeup? PLEASE start worrying about the middle class, John. Please.

  • Posted By: Nins @ 10/28/2008 4:48:55 PM



    Here's a video in which Obama discusses fiscal responsibility. Anyone who cares about the economy should see it.

    http://www.youtube.com/watch?v=5d4a6RNhCUo

    On this web page, you can calculate the amount of your TAX RELIEF under Obama's plan (This tax calculator is for personal income, not for businesses. Remember that if you itemize, your tax cut will be higher than what the calculator shows. However, Obama's new 1040EZ allows people to get credit for some itemizations without having to fill out the long form and schedules.)

    http://taxcut.barackobama.com/

    You can get even more information on Obama's economic policies from the Blueprint for Change.

    http://www.barackobama.com/issues/

  • Posted By: 40YearR @ 10/28/2008 12:36:49 PM

    ??? Er, ah "Nowforthetruth": In an earlier posting your exposition is that Palin is not a Socialist since she took money from the oil companies and redistributed it to Alaska citizens... It's not Socialism because "Alaska has no State taxes... It is not taking money from one person and giving it to another person."

    So where did the oil companies get that money?

    But I should fear Obama as a "Redistributor" and a "Socialist" because he wants to roll back a tax break for the rich that (before he sold out to the right wing) McC opposed and called 'irresponsible" because it benefitted "only the rich"?

    Is your posting here directed to fears about "Socialism", or is it just innuendo, or are we trying to fold in a little racism too?

    I've got an idea, since we have no more ideas, let's run our campaign on fear, smears and hypocrisy.

    Yeah, that's the ticket!

    Keep talking "Nowforthetruth", you're really helping!

    A 40 year republican

  • Posted By: 40YearR @ 10/27/2008 8:43:09 PM

    Go to factcheck.org and see the entry at "Spread The Tax Hooyey!" It refutes the tired old "Socialist" and "Redistribution" propaganda we continue to see at this site.

  • Posted By: Nins @ 10/27/2008 6:21:06 PM

    Obama has 63 Nobel Laureates working on his policy team. They are developing a plan to push America back to the top. Who is responsible for McCain's planning? Americans would be shocked to find that Douglas Holtz-Eakin is the sole person responsible for planning McCain's policy for America's future. Holtz-Eakin is also McCain's economic advisor, filling two full time positions on McCain's team. How can one single man (an economist) be responsible for developing a viable technology plan for our future? Obama has an enormous pool of the most intelligent, talented men and women in America working for him. Soon, they will be working for US.

    And let's not forget that the McCain campaign spent more on Palin's makeup artist than it did on it's foreign policy advisor. When you pay your makeup artist DOUBLE what you pay your foreign policy advisor, it is time to start examining your PRIORITIES.

    You look just fine without makeup, John. And Sarah is young enough not to need any. So cut the crap, and start paying some good ECONOMIC ADVISORS so you can have a fiscal plan to present to America. We're in the middle of a huge global financial meltdown, and you are worried about hair and makeup? PLEASE start worrying about the middle class, John. Please.

  • Posted By: 40YearR @ 10/27/2008 5:20:15 PM

    The Rs nationalized the banks, grew the National Debt and the size of government to their biggest size ever. Now "Nowforthetruth" wants to scare us what that Socialist Obama will do..

    The links below to legitimate news sources that show that Fannie and Freddie paid many millions of dollars while the Rs were in control of the executive and legislative branches, lobbying Rs only, to prevent regulation of the financial practices that caused the global financial crisis.

    One of the biggest recipients of those millions is Rick Davis, McC's campaign manager, who has been recieving up to $35k/mo. since '00 right up to the present. Freddie continued to pay Davis while Davis managed McC's campaign. Freddie also donated $250k to the R convention.

    These facts are everywhere in the legitimate news. You can start at http://www.nytimes.com/2008/09/22/us/politics/22mccain.html and http://www.newsweek.com/id/164732/page/1 There's much more legitimate news on this.

    Before he hired Rick Davis, McC said that lobbyists were what is wrong in Washington, and that he would be the one to make sure they don't control our government any more. That was before he sold out. He doesn't say that any more because he hired one of the most powerful lobbyists, the guy who lobbied Rs, only, against against regulation that could have prevented this crisis.

    We should now trust McC and his advisors to solve the problems their lobbying created?

    The Rs still try to deceive us that it was the Dems' fault, and that we must fear "that one".

  • Posted By: Nowforthetruth @ 10/27/2008 8:19:46 AM

    http://www.youtube.com/watch?v=iivL4c_3pck

    2001 Chicago Public Citizen Radio Interview criticizing the Warren Court as not radical enough for not pursuing redistribution of wealth.

    Says that community organizing is for the purpose of assembling the political power to force redistribution of wealth.

  • Posted By: Nowforthetruth @ 10/26/2008 9:38:09 PM

    The Kennedy tax cut.

    http://www.heritage.org/Research/Taxes/bg1765.cfm

    About half way through the article.

    "President Kennedy proposed massive tax-rate reductions, which were passed by Congress and became law after he was assassinated. The 1964 tax cut reduced the top marginal personal income tax rate from 91 percent to 70 percent by 1965. The cut reduced lower-bracket rates as well. In the four years prior to the 1965 tax-rate cuts, federal government income tax revenue--adjusted for inflation--increased at an average annual rate of 2.1 percent, while total government income tax revenue (federal plus state and local) increased by 2.6 percent per year . In the four years following the tax cut, federal government income tax revenue increased by 8.6 percent annually and total government income tax revenue increased by 9.0 percent annually. Government income tax revenue not only increased in the years following the tax cut, it increased at a much faster rate.
    The Kennedy tax cut set the example that President Ronald Reagan would follow some 17 years later. By increasing incentives to work, produce, and invest, real GDP growth increased in the years following the tax cuts: More people worked, and the tax base expanded. Additionally, the expenditure side of the budget benefited as well because the unemployment rate was significantly reduced.
    Using the Congressional Budget Office's revenue forecasts (made with the full knowledge of the future tax cuts), revenues came in much higher than had been anticipated, even after the "cost""of the tax cut had been taken into account. Additionally, in 1965--one year following the tax cut--personal income tax revenue data exceeded expectations by the greatest amounts in the highest income classes.
    Testifying before Congress in 1977, Walter Heller, President Kenned''s Chairman of the Council of Economic Advisers, summarized:
    What happened to the tax cut in 1965 is difficult to pin down, but insofar as we are able to isolate it, it did seem to have a tremendously stimulative effect, a multiplied effect on the economy. It was the major factor that led to our running a $3 billion surplus by the middle of 1965 before escalation in Vietnam struck us. It was a $12 billion tax cut, which would be about $33 or $34 billion in today's terms, and within one year the revenues into the Federal Treasury were already above what they had been before the tax cut.
    Did the tax cut pay for itself in increased revenues? I think the evidence is very strong that it did."

  • Posted By: Nowforthetruth @ 10/26/2008 5:36:40 PM

    See Barney Franks comments on the news, including face the nation last week, stating that Democrats in Congress intend to greatly raise taxes and go on a spending spree.

    http://www.youtube.com/watch?v=u1Mazjm_A5k

    http://www.youtube.com/watch?v=cJGnSAlqjoU

    See http://www.taxfoundation.org/blog/show/23617.html


    And again what was Frank saying at roughly the time McCains attempt at S.190. in 2005 to fix Fannie and Freddie.

    http://www.youtube.com/watch?v=_MGT_cSi7Rs

    "These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis, the more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."

    So which party is really the liar that soaked the American people?

    See also: http://www.cbsnews.com/stories/2007/01/08/politics/main2335631.shtml

  • Posted By: Vote Now @ 10/25/2008 5:36:49 PM


    Comment: THE GREAT BUSH DEPRESSION
    I follow an economist named Bob Proctor. He has called the top and bottom of every market crash since the 70s correctly.
    He perfectly predicted the current meltdown and the picture he paints about what will happen next
    is terrifying.He thinks it will be worse then the great depression.
    The banks in the U.S. are going under one after the other. Countrywide ,Bear Stearns, Lehman Brothers and Merrill Lynch , Fanny and Freddy Mae ,AIG
    The government took them over because they are bankrupt. Even with the goverment nationalizing hundreds of billions of dollars in debt the stock market is crashing
    the credit markets are frozen and all of us may suffer beyond anything seen in generations
    McCain just like Bush " doesn't understand the economy".
    That not just my opinion its his own words. Not only does he not understand how to fix it but he does not understand how its been broken.
    It is no surprise that he doesn't. The people that make up these securities use quantum mathematical models very few people understand.
    Bush and McCain both can take the credit for this mess since they helped deregulate the laws that were protecting us.
    Bush's economic advisor Phil Graham wrote the deregulation bill that allowed banks to take huge risks with all of our future.
    Now, Phil Graham is the head of McCain's economic policy.He is also McCain's choice for the next secretary of the treasury.
    No one in this country can afford for that to happen. The last time Bush met with his economic advisors was in March. He was the last to know somthing was wrong. Phil Graham had the guts to say that we are in a mental recession after he helped create the worst economy meltdown in our lifetime. Check out this link to the truth http://my.barackobama.com/keatingvideo
    It will take the best and brightest minds in the world to get us out of this nightmare. As bad as Bush has done, McCain would be
    even more destructive because things are in much worse shape. The next president will not inherit a budget surplus like Bush did but a crashing economy and a 11,600,000,000,000 (trillion) dollars deficit. Most of it Bush created and it will take decades to pay it back.
    If you do what you have always done then you will get what you have always got.
    When it comes to policy Bush and McCain are the same 90 percent of the time.
    So why are the polls even close then ?
    Mccains team just said they no longer want to talk about the economy.Instead they would like to spend time talking about obama
    which means running the biggest smear campaign in history.
    They think they can just tell you lies and you wont be smart enough to see through it
    Let's teach him we are smarter than that
    Stand up and hold them accountable
    Bush isn't on the ballot this year but his policies are
    Elect Obama Biden 2008

  • Posted By: Vote Now @ 10/25/2008 5:36:41 PM


    Comment: THE GREAT BUSH DEPRESSION
    I follow an economist named Bob Proctor. He has called the top and bottom of every market crash since the 70s correctly.
    He perfectly predicted the current meltdown and the picture he paints about what will happen next
    is terrifying.He thinks it will be worse then the great depression.
    The banks in the U.S. are going under one after the other. Countrywide ,Bear Stearns, Lehman Brothers and Merrill Lynch , Fanny and Freddy Mae ,AIG
    The government took them over because they are bankrupt. Even with the goverment nationalizing hundreds of billions of dollars in debt the stock market is crashing
    the credit markets are frozen and all of us may suffer beyond anything seen in generations
    McCain just like Bush " doesn't understand the economy".
    That not just my opinion its his own words. Not only does he not understand how to fix it but he does not understand how its been broken.
    It is no surprise that he doesn't. The people that make up these securities use quantum mathematical models very few people understand.
    Bush and McCain both can take the credit for this mess since they helped deregulate the laws that were protecting us.
    Bush's economic advisor Phil Graham wrote the deregulation bill that allowed banks to take huge risks with all of our future.
    Now, Phil Graham is the head of McCain's economic policy.He is also McCain's choice for the next secretary of the treasury.
    No one in this country can afford for that to happen. The last time Bush met with his economic advisors was in March. He was the last to know somthing was wrong. Phil Graham had the guts to say that we are in a mental recession after he helped create the worst economy meltdown in our lifetime. Check out this link to the truth http://my.barackobama.com/keatingvideo
    It will take the best and brightest minds in the world to get us out of this nightmare. As bad as Bush has done, McCain would be
    even more destructive because things are in much worse shape. The next president will not inherit a budget surplus like Bush did but a crashing economy and a 11,600,000,000,000 (trillion) dollars deficit. Most of it Bush created and it will take decades to pay it back.
    If you do what you have always done then you will get what you have always got.
    When it comes to policy Bush and McCain are the same 90 percent of the time.
    So why are the polls even close then ?
    Mccains team just said they no longer want to talk about the economy.Instead they would like to spend time talking about obama
    which means running the biggest smear campaign in history.
    They think they can just tell you lies and you wont be smart enough to see through it
    Let's teach him we are smarter than that
    Stand up and hold them accountable
    Bush isn't on the ballot this year but his policies are
    Elect Obama Biden 2008

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