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The Democrats Win The House. What Implications Does This Have On Your Finances?

By Erik Folgate

This is not a political blog, but politics affect every aspect of our lives whether we like it or not.  a shift of power occurred yesterday with the Democrates winning the majority of the House of Representatives.  It’s still possible that they could win the Senate majority as well.  

What we need to realize is that we have put a woman named Nancy Pelosi into a very powerful position at Speaker of the House.  She is now second in line to succeed the president if something were to happen to him.  Also, the speaker has a great deal of influence with how their majority party votes.  Nancy Pelosi is not moderate with her political views.  She shares many of the same views as that of the liberal demographic of San Francisco.  Despite her liberal social views, she WILL support economic socialism and related legislature.  This includes giving more power to the government over how money is disbursed throughout its citizens.  This is very bad news for aspiring entrepreneurs and current business owners.  Also, she WILL support a universal health care system.  I don’t mind if it is your opinion to support universal health care, but do the research on the quality of health care in Canada and the United Kingdom and tell me if you still think it is a good idea. 

Times will be changing, and you will see a much more forceful push towards socialism in a country that has thrived with capitalism.  My charge to you is to be proactive with what goes on in local and national politics, because it has a direct affect on the economy, your job, and your finances. 

Erik Folgate
Erik and his wife, Lindzee, live in Orlando, Florida with a baby boy on the way. Erik works as an account manager for a marketing company, and considers counseling friends, family and the readers of Money Crashers his personal ministry to others. Erik became passionate about personal finance and helping others make wise financial decisions after racking up over $20k in credit card and student loan debt within the first two years of college.

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