The state of our economy

I've always been an advocate of replacing the idea of the electoral college with the popular vote because I've tried to think that uninformed Americans were the same group of people that were apathetic about elections. This election proved me terribly wrong.

If people had known more solid facts about each candidate's economic policies I think McCain would have won the election by a landslide. I think people get so caught up in the idea of middle class tax cuts and tax increases for the "rich" that they don't actually understand what the policies actually MEAN for America.

This is what I think the Obama presidency means for America:

I think Obama is going to continue to spend America further into a deficit that will propel us further into a recession (these useless economic stimulus packages that only work in the short run and make us WORSE off in the long run) and we'll see inflation occurring at staggering rates. Unemployment rates will increase again as the next phase to increase the minimum wage occurs. The one class of Americans that could buy stock to lessen the effects of an impending recession, the "rich" will be increasingly taxed to the point where they could not buy stock. Actually, they will probably remove money from the stock market causing another drop in the stocks.

The FED, poor Ben Bernake, will continue to decrease the money supply which will have deflation occur, making our money inflated, and worth much less. Bernake wrote a paper on deflation and will actually be the Fed Chairman to cause it in our economy knowing that in he decreases the money supply, like he should, it would further spiral America into a depression with the world following.

People are ignorant and stupid and blame the increasing minimum wages on Republicans and the Bush Administration when really Democratic policies and Obama as president will set the stage for a depression. By no means am I an advocate of Bill Clinton, but at least he had enough sense to PAY back the deficit. What happened to the days when Democrats were the guys and gals who know economics and what to do to practice good economic harmony? Hopefully Obama will choose a good economic adviser who will not allow him to lobby another Economic Stimulus Package or Economic Bail Out Bill in Congress.

I think the Economic Stimulus Packages and Economic Bail Out Bills in Congress are stupid because they are only short term solutions that make our overall economic problems worse in the long run. To fix the economy we must petition congress to

1. stop pork barrel legislation
2. stop passing entitlement programs
3. actually follow recommendations from GAO
4. commission GAO to find the most inefficent programs, cut them, and redirect the left over funds from those programs to pay off the deficit
5. stay on budget
6. do not pass laws to restrict businesses except (7)
7. ban mark to market accounting

We must petition the Supreme Court to
1. declare mass bail out bills unconstitutional
2. declare governmental buying of businesses illegal

Will this economic catastrophic happen shortly after the inauguration of Obama? No. It will happen shortly after the honeymoon period of his presidency is over if he chooses a bad economic policy adviser.