Obama Gives A Speech About His Proposed Economic Stimulus Plan for 2009
January 3, 2009 by Erik Folgate
Filed under Economic Policy, Economy, Politics
Obama is labeling the proposed plan as an “American Recovery and Reinvestment Plan”, and he wants it passed as soon as possible. The price tag could be $775 billion, and once again, politicians think the only way to get out of this economic slump is to spend more money. This philosophy was practiced by Bush and now Obama. Here is the speech he gave and released on radio and on YouTube.
What are your thoughts?
Information About A Possible 2009 Economic Stimulus Plan
December 9, 2008 by Erik Folgate
Filed under Economic Policy, Economy, Politics
During the presidential election, Barack Obama spoke about proposing an economic stimulus plan for 2009. Originally, Obama and Congress wanted to get a stimulus plan passed during his lame duck period, but Congress is no longer in session until the beginning of the new year, so it looks like that isn’t happening. The Democrats wanted to get two stimulus packages passed, one by the end of this year, and then another one in the beginning of 2009. Now, it looks like they will push for one comprehensive stimulus plan in January or February of 2009.
Highlights of President-Elect Barack Obama’s Tax Plan
November 6, 2008 by Erik Folgate
Filed under Economic Policy, Politics, Taxes
Congratulations to Barack Obama for winning the office of the most important and powerful person in the world. He wasn’t who I voted for, but it is truly a historic time to be alive to see the first African-American president of the United States. I know that one issue many are concerned about when it comes to Obama is his tax plan. Here is a good snapshot from Kiplinger’s magazine about what he plans to do with taxes.
Tax-Plan Highlights
Income Tax
Maintain current tax rates of 10% to 28% for most Americans. Reinstate top tax rates of 36% and 39.6% on joint income of more than $250,000 ($200,000 for individuals).
My Reaction to the Economic Topics Discussed In Last Night’s Presidential Debate
October 16, 2008 by Erik Folgate
Filed under Economic Policy, Economy, Politics
Last night was the last presidential debate. So, now we need to make a decision and pick a president. I’m very glad that it will be over soon. Being in Florida, we’re a so-called “battle ground state”, which means we get bombarded with commercial after commercial about who is a bigger idiot. I watched most of the debate, and it was definitely the best of the three. Bob Schieffer knows what he’s doing as a moderator unlike Tom Brokaw. He kept the dialogue flowing and he didn’t freak out if they candidates wen over a few seconds on their answers. Nonetheless, here are my reactions, for what their worth.
Question of the Day: Which Presidential Candidate Will Be Better For Our Economy?
August 26, 2008 by Erik Folgate
Filed under Economic Policy, FAQs, Politics
Please, keep this civil. I’m interested to know which candidate’s economic plan will be better for our country? Don’t know their differing plans? I’m not going to go through all of it here, so research it on your own.
Congress Approves Bail Out For Homeowners, Fannie Mae, and Freddie Mac
July 24, 2008 by Erik Folgate
Filed under Consumer News, Credit and Debt, Economic Policy, Economy, Politics, Real Estate
Here is the article from the AP, via Yahoo Finance about the House sailing through a bill to bail out homeowners and the Fannie Mae/Freddie Mac institutions.
I love how Yahoo Finance titles it a “rescue” when it should be called a “bail out”. Rescue makes it sound like Congress is doing such a great, noble thing. I know that I sound negative about this, and for some families, it will help them out. There were some families who were truly tricked into a mortgage that they didn’t understand. There were others that knew exactly what they were doing, but the power of greed took over and they moved up in house by taking advantage of creative financing. Then, there’s the mortgage lenders who knew exactly what they were doing the whole time. They’ve been in the business for a long time. They knew these people couldn’t afford the houses they were financing, but they still extended the credit.
We Will Fund The Bill For Fannie Mae and Freddie Mac
July 16, 2008 by Erik Folgate
Filed under Economic Policy, Economy, Politics
Do you have a crazy aunt and uncle in your family? Do you remember the crazy uncle from National Lampoon’s Christmas Vacation played by Randy Quaid? They love to drop in unexpectedly and like they’re so glad to see you. But, the truth is that they want to “borrow” money. Even though, they have no intention of paying you back.
A Look Into the Home Values of the Presidential Candidates
February 7, 2008 by Erik Folgate
Filed under Consumer News, Economic Policy, Politics
This article from Yahoo Finance tells you the home values of the presidential candidates to their primary residences. We now know their net worth, how much they spend on hair cuts, and now we even know how much their real estate is worth. I don’t really think you should pay much credence to this kind of information about the presidential candidates when it comes to forming a voting opinion about them. My suspicion is that journalists write these types of articles more for the entertainment value of the information. It sparked my interest totally out curiousity and nosey-ness. That’s not a word, but I made it up. It’s my blog, and I’ll make up words if I feel like it. Here’s a quick reference as to the home values of the five primary candidates still running for the presidential nominee.
Hillary Clinton Will Garnish Your Wages If You Choose Not to Buy Health Insurance
February 5, 2008 by Erik Folgate
Filed under Economic Policy, Insurance, Politics
This article from USA Today summarizes what Hillary Clinton spoke about on an ABC Sunday Morning show. She described her plan for funding her universal health care program, but the most revealing detail of her plan was that she would garnish the wages of those workers who could afford health care coverage, but chose not to buy it or participate in a universal health care plan.
Clinton Said, “I think you can automatically enroll people, and you will then say, ‘You’ve got to be part of this.’”
Presidential Candidate Rudy Giuliani and Your Money
October 2, 2007 by Erik Folgate
Filed under Consumer News, Economic Policy, Economy, Politics, Taxes
If you haven’t heard, we’re going to have another president for the first time in 8 years, come November, 2008. Chances are that you have heard, because the candidates have started out EXTREMELY early with their campaigns. It’s nauseating, but don’t let it deter you from casting an educated vote. With the idea of a friend, I am going to take a look at the top presidential candidates and show you how they will impact your financial life if you elect them as your next president. If you’ve never voted before, or you stopped voting after you kept getting the president you didn’t want, please consider making an effort to vote this coming 2008 election. Don’t believe the conspiracy theorists. Your vote really does count, and it’s a patriotic thing to do.
