Economic worries (the base behind the big lie)

While the economy is currently sound, there are reasons to worry. The Social Security implications of age demographics is one that was set aside a few years ago as was the oversight of Fannie and Freddie. Maxedoutmama says Sorry, Guys and lists a few other challenges.

She sees the trend to continue: ” Obama, Pelosi and Reid have substantially similar ideas about energy. Early next year they will raise the gas tax, and under the new administration most realistic energy projects will not be approved. Instead, the unrealistic stuff will get a heavy economic subsidy.”

Protectionism is a threat: “Carbon cap and trade are either domestic economic suicide or protectionism. I think the new administration will opt for protectionism.”

Taxes and finding money for government projects will likely lead to further innovation in new taxation ideas. “If Congress were to tax interest and dividends on those 401Ks, they’d make much more, and I expect an attempt to do this somehow.”

Older unemployed workers face challenges: “if you are a 63 year old who has lost your job, you have very little chance (perhaps 1 in 10) of getting another which carries health insurance in this climate.” This will put pressure on Social Security and other social services.

The energy proposals will feed inflation and that has already “eroded the standards of living of lower-income people very rapidly over the last three years.”

There are proven methods for turning this around. They don’t seem to be on the table in the current political climate.

Comments are closed.