Will the outcome of 2012 US elections affect the prosperity of the US Economy and the World Economy?
Barack Obama, the incumbent president is more likely to be back in power if the public believes that the economy has regained its past vigour. It is also quite possible that the voting public may turn to his opponents in the Republican camp if they believe that the economy has turned sluggish. Therefore, my question to my readers is, Will the outcome of 2012 US elections affect the prosperity of the American economy in particular and the World Economy in general?
Obama's economics are braindead. If he's reelected, nothing will change, this monumental deficit spending will continue, and the US economy will follow Europe's into the bucket.
If Romney is elected, I honestly don't see what he can do. He won't carry a filibuster-proof senate in with him, so the draconian measures required to balance the budget, to say nothing of reducing accumulated debt, cannot pass congress. He may rein in spending some, but I can't imagine him being able, or for that matter willing, to do enough to make much difference.
So, I suppose the answer is that the runaway train of statism is likely to continue careening down its increasingly crumbly track no matter which of these two gets into the white house for the next four years, and so the western economy, therefore the world economy, will continue to grow shakier. That's not good news for those of us outside the protected fantasy bubble of Washington, DC.
Yes, the outcome of the election will most assuredly affect the US economy and world economy.
If you elect Obamney or Rombama, you will maintain the current slide toward oblivion. Both of these guys work for the Corporate Party, the media branch of which has been stealthfully keeping alive the illusion of normalcy and choice.
But nothing could be further from the truth.
Here's just a taste of the Corporate Party presidential conventions murdering votes and Roberts Rules of Order.
America is no longer the land of the free and home of the brave. Behind the curtain of lies, we have Obama with his unconstitutional Kill List including American citizens.
We have HR 347 which makes it a felony to protest what the government is doing.
We have the NDAA which Obama signed (and Romney would've signed) with its indefinite detention clauses for American citizens. Now the military can detain American citizens and throw away the key. No charges, no attorney, no trial, no phone call.
Did 9/11 make Americans stupid, or were they already that way? I'm afraid the answer is far more complicated, because the Corporate Party has attacked America on many fronts -- social, legislative, media, news, education, health, and others. The key thrust has been divisiveness -- divide and conquer -- keep citizens busy fighting each other on trivial matters while they dismantle America. Why? Because America could pose a threat to their plans for the New World Order that George H.W. Bush gushed about on 9/11/1990. Exactly 11 years later, 9/11 ushered in the last lap toward that New World Order.
And part of that plan has been to milk America for all it has, including skyrocket the national debt to the point it pops. And only the Bankers and their friends will be left standing to pick up the pieces for pennies on the worthless dollar.
Corporations don't care about our soldiers. The WMDs were a lie and Bush made jokes about it while our troops continued to die and Halliburton became richer off of taxpayers -- $2.5 million for a $3 thousand fuel haul, $100 per small bag of laundry, and more atrocities.
But Cheney got rich off of this. No one said anything about the huge conflict of interest.
Wake up! It's Germany 80 years ago, again
Regardless of who is elected, there are only two steps that are needed to reduce the national debt. The first is to spend less. That means making cuts in programs. Everybody says that but everyone has a pet program or project they do not want cut. So, there is going to have to be some political and personal sacrifices made.
The second step is to raise money. This is usually accomplished through taxes. No one wants to pay more taxes or lose their favorite deductions, such as the one for home mortgages.
The government will have to do these things. What is cut and which taxes are raised will be decided along partisan lines.
The government needs to look at other ways of raising money. Offshore oil and gas royalties are the second largest source of income, right after the personal income tax. Thus, there is an opportunity to increase offshore oil and gas drilling and drilling on federal lands. That will produce more revenue, but it would be a few years before it shows up on the books.
We need to stop being the world police force and not engage in every civil war in every nation. We always have a reason, but we have to stop somewhere.
Either of the candidates is capable of doing this, with the right Congress. So the real is will the next Congress to act as an independent body, free from partisan leadership and control, willing to work five days a week instead of three and willing to talk and work with the other party. Until the debacle that is taking place in Congress is resolved, neither Romney nor Obama will be able to solve the economic problems facing this country and the world. That will mean that when the budget is presented each year, the pork barrel projects, the earmarks and the payback for the previous vote projects will have to be eliminated. Some should be eliminated forever. Some may just have to be put off for a short time.
We are facing a $16 trillion deficit today. If the next President and Congress can cut that to $13 or $14 trillion, it will be a sign of progress and success.
Our impact in the world will not change no matter who is president. The two men have identical foreign policies. The only difference is the president talks nice to people while he bombs them and Romney would talk tough to them. Foreign policy drives our domestic policy these days, so I would assume the economy would be bad under either administration.
The hot-button issue of outsourcing reared its head in the Presidential debate on Tuesday as both Barack Obama and Mitt Romney jabbed at each other over their ability and plans to create jobs in the United States, Reports Times of India. Read more: http://goo.gl/zESlP
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