The things I noticed about this austerity cliff are thus.
1-He blamed congress. They are partially responsible, however Obama didn't care to tell the people that because he does not have a balanced budget it is partially to blame. He also didn't mention how the stimulus to improve the economy failed (which is also partially to blame for this situation) and now the Federal Reserve (which is not a government bank) now prints money for the government to inject into the economy thus diminishing the value of the dollar.
2-I'm quite disappointed in Americans because they believe taxing the rich is a good thing. The tax rates that are being introduced to the rich through the democrats proposal would sustain the government for 8 days. Then what? Also with those tax's jobs would decrease significantly. To put things in perspective
Rich guy owns a business, he doesn't have the money to keep X amount of workers, he lays off X workers, now multiply that for all owners of companies making more then 250,000 a year. It is a significant impact on small/big business which will cause lay off's. Not to mention now that healthcare is a requirement for any full time workers they may be slashed to part time due to companies not being able to afford the cost.
3-I'm quite shocked Obama spoke on how he wants to work on government spending, when he is nearly the sole cause (along with bush/reagan) of our current deficit. You cannot spend your way out of debt. The government spends $1.50 USD for every $1.00 USD they take in. You cannot run an organization like that, nor can you improve an economy by spending money that you borrowed/printed.
4-Another thing that I noticed is that he is for less tax's on the middle class. The thing that's ironic about that statement is inflation. Inflation is when you have more of something then what you used too the price for purchasing something with that object increases as the quantity has increased. If Americans currency is increasing by means of printing money, then the value of it goes lower. To put it in perspective.
When I was living in 1998 a candy bar in my local wal-mart was $0.25 USD now it is $1.00 USD. There has been a significant cost increase due to the increase of prices and inflation. Same thing goes for ramen. I would buy little packets for $0.05 USD back in 2007 now it is $0.20 USD. That may not seem like much for people who live with their parents, but when cheap food prices quadruple you now have to let go of things you used to have the luxury for but now cannot afford.
That's just what I noticed in the speech. I'm not a republican or democrat mind you, however this mess stems from improper spending and illegal wars who both bush and Obama are responsible for(libya, iraq, afganistan).
1-He blamed congress. They are partially responsible, however Obama didn't care to tell the people that because he does not have a balanced budget it is partially to blame. He also didn't mention how the stimulus to improve the economy failed (which is also partially to blame for this situation) and now the Federal Reserve (which is not a government bank) now prints money for the government to inject into the economy thus diminishing the value of the dollar.
2-I'm quite disappointed in Americans because they believe taxing the rich is a good thing. The tax rates that are being introduced to the rich through the democrats proposal would sustain the government for 8 days. Then what? Also with those tax's jobs would decrease significantly. To put things in perspective
Rich guy owns a business, he doesn't have the money to keep X amount of workers, he lays off X workers, now multiply that for all owners of companies making more then 250,000 a year. It is a significant impact on small/big business which will cause lay off's. Not to mention now that healthcare is a requirement for any full time workers they may be slashed to part time due to companies not being able to afford the cost.
3-I'm quite shocked Obama spoke on how he wants to work on government spending, when he is nearly the sole cause (along with bush/reagan) of our current deficit. You cannot spend your way out of debt. The government spends $1.50 USD for every $1.00 USD they take in. You cannot run an organization like that, nor can you improve an economy by spending money that you borrowed/printed.
4-Another thing that I noticed is that he is for less tax's on the middle class. The thing that's ironic about that statement is inflation. Inflation is when you have more of something then what you used too the price for purchasing something with that object increases as the quantity has increased. If Americans currency is increasing by means of printing money, then the value of it goes lower. To put it in perspective.
When I was living in 1998 a candy bar in my local wal-mart was $0.25 USD now it is $1.00 USD. There has been a significant cost increase due to the increase of prices and inflation. Same thing goes for ramen. I would buy little packets for $0.05 USD back in 2007 now it is $0.20 USD. That may not seem like much for people who live with their parents, but when cheap food prices quadruple you now have to let go of things you used to have the luxury for but now cannot afford.
That's just what I noticed in the speech. I'm not a republican or democrat mind you, however this mess stems from improper spending and illegal wars who both bush and Obama are responsible for(libya, iraq, afganistan).
