Will Obama be another Hoover?

[Kidlicious]

People are saying that the first thing Obama will do about the economy is shore up the auto manufacturers. He also plans to raise taxes. These two things indicate to me that he will be like Hoover in dealing with economic problems.

If he doesn't come up with a respectable plan to fix the economy soon we should assume that no such plan is forthcoming.

[Arrian]

We'll see about the tax increase (which would presumably be accompanied by tax cuts/credits he's also promised). He's made some noises about holding off on increasing taxes until things are better.

As for "the plan" ... I imagine they're working on it. There is an economic summit in DC on 11/15 that Obama's going to be involved in. Don't you think putting out a plan prior to that meeting might be premature?

-Arrian

[Japher]

I'm sure he'll suck

[KrazyHorse]

Re: Will Obama be another Hoover?

Originally posted by Kidicious
People are saying that the first thing Obama will do about the economy is shore up the auto manufacturers.

That is the worst idea I've ever heard.

[Dinner]

Protecting vital national interests like heavy industry.

[Kidlicious]

Originally posted by Arrian
As for "the plan" ... I imagine they're working on it. There is an economic summit in DC on 11/15 that Obama's going to be involved in. Don't you think putting out a plan prior to that meeting might be premature?

I don't think it's premature. In fact, I think it's important to put out some ideas (one way or the other) to boost confidence.

[Patroklos]

That is the worst idea I've ever heard.

Those votes were on credit, the statement is in the mail.

[Kidlicious]

Originally posted by Oerdin
Protecting vital national interests like heavy industry.

What will it matter if no one is going to buy the cars anyway?

[KrazyHorse]

Which votes? Michigan's?

He didn't need to promise Michigan **** in order to carry it.

[Patroklos]

Unions.

And Michigan is not the only state with a significant automtive industry.

[Imran Siddiqui]

Re: Re: Will Obama be another Hoover?

Originally posted by KrazyHorse
That is the worst idea I've ever heard.

Oh please, Ben posts on this site. That's hardly the worst idea you've ever heard.

[KrazyHorse]

That's true.

But it's a bad idea.

[Arrian]

Sure. There are lots of bad ideas floating around right now, I imagine. There usually are. The question is how many such bad ideas Obama falls for. We'll see.

-Arrian

[KrazyHorse]

If he's going to fall for a bad idea, I should tell him about my plan to fix the US economy.

Step 1: cut me a 700 billion dollar cheque
Step 2: ???
Step 3: all better

I think I'll write it up as a formal proposal and send it in.

[Arrian]

It seems a tad premature to freak out because Kid says "people are saying that the first thing Obama will do about the economy is shore up the auto manufacturers."

Don't you think?

-Arrian