Obama's Oddly Revealing Economic Speech

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Makes the economy grow

I like the article, so what does make the economy grow? Adam Smith seems to say in his book "Wealth of Nations" that increases in efficiency is the engine of economic growth. Obama does not explain how he will help increase efficiency. Obama, why not drill for oil? We could keep the money we send to foreign countries for ourselves. We could export oil to foreign countries for cash. We could take the extra 100s of billions of dollars made from oil and spend it on research for what ever we wanted. But, Obama is a true liberal. Obama wants to tax and redistribute the wealth, which of course never creates a net increase in national wealth.

Chris Putnam of UT @ Jul 09, 2008 11:03:53 AM

Those Links

Since the hyperlinks didn't pass through in the comment above, here they are in shorter, much easier to copy and paste, form:

Minimizing Risk in Funding Social Security:

http://tinyurl.com/3q5vul

Social Security's Taxable Income Cap Over Time

http://tinyurl.com/4vdufn

Ironman of SD @ Jun 14, 2008 09:16:38 AM

Rory, go educate yourself on taxation and the economy before spouting such foolishness.

But since you're here, maybe you can answer this question. Who does Obama consider the "middle class"?

Chris of AZ @ Jun 11, 2008 19:09:59 PM

Still Not The best

Though I have a hard time accepting the reality of choices in this year for presidential election, I don't think Obama is the best choice, even for the democrates. I feel if people would just look at the facts and voting records of this individual, they may have a different opinion. Look for yourselves at the way they (he) votes on issues,such-as economics, subsidies, or any other bill before the senate. please check out us.gov for a true voting record. I, myself don't like third and fourth hand information. You can watch the voting live on the two stations by CNN.

By someone to say thier going to tax the wealthy is just absurd, or the oil companies. If you don't believe in trickle down economics, try and watch the cost of higher taxes flow toward the working class of this country.

Pettigo,L of @ Jun 11, 2008 18:30:11 PM

Master of Distortion?

I find it ironic and scary that John of PA believes that Obama and Clinton are both purveyors of distortion. After eight years following a questionable first election win, persistent lies about war and inaccurate judgment of the morality of foreign governments, I think most Americans and certainly most of the world see the biggest fabrications have come from the current executive branch of the U.S. Federal government. Open your eyes John and more importantly open your mind. The Bush crew through a continuous pack of lies have made it more difficult for most Americans to just get by and have certainly made the world a less safe place to be.

Also to Mr. Pethokoukis, taxes aren't always a bad thing. Removing them relies on the generosity of the elite (and we all know just how generous most of those folks are) in some sort of trickle down economic strategy championed by the mediocre economic policies of Regan. We all know that there is no trickling from the top, the money merely forms pools that are hoarded by the wealthy. Continuing with the tax breaks for the wealthy individual or wealthy company will only result in further stratification of American society into a low income class and an egregiously wealthy class. Taxes help provide mechanisms where everyone has an opportunity at an education and success and provides basic services necessary for all individuals to lead a dignified life.

Rory of VA @ Jun 11, 2008 09:38:36 AM

Still the best candidate

For all the economic foolishness he spouts sometimes, Obama is still the best candidate to lead the country. He is committed to civil rights and inclusivity. He will promote fair policies towards the black community,a third of whose males are currently involved in the criminal justice system mostly due to mandatory sentencing in drug cases. The United States has the highest incarceration rate in the world at 737 persons imprisoned per 100,000--almost five times that of other democracies, like Britain, Canada or Australia. If we weren't so parochial as a nation, we'd ask what the h*** was going on with that. Obama will support civil unions for same-sex couples--an issue of basic fairness that is long overdue. Obama is also the only candidate who apparently "gets" the idea that unnecessary wars can destroy a country, economically and morally, and can cause it to be hated globally--not the way to build a nation's long-term future. Personally, I am willing to put up with some economic silliness (e.g. refusing to reform Social Security) in order to have a shot at tackling these problems that no one else seems equipped to handle. If we fought less wars, we'd of course have more money to tackle our economic problems!

Glen of PA @ Jun 11, 2008 09:02:07 AM

Diversion getting more pervasive

It's strange that America seems to be evenly dividing itself into two separate groups, and those groups grow further apart every passing year. Those that think Bush is trying to help America, and those who think he's the great Satan. Those who think Hillary is the champion of the people, and those who think she's a buffoon reiterating whatever idiots want to hear. Those who think Obama represents a great sweeping change which will magically solve all their individual problems, and those that see every concrete policy and idea he utters as short-sighted and/or socialist ideals which play well to the unthinking masses but will ultimately destroy the country. People who try to control their own destiny, and people who think it's the government's job to cure all their ills. People who can think logically and analytically, and people who romanticize that nebulous idealism will solve all their problems. People who think economics has no facts and you have no control over your financial situation or the country's economy, and other people who think both personal and national finances are direct results of their respective actions, and strive to improve them rather than writing them off as subjective perspectives.

It's sad to see the country divide itself, but that seems to be what we're coming to.

Nick of CA @ Jun 11, 2008 02:34:10 AM

Dumb Ass Americans

What the polarized American group psyche doesn't understand is that in economics, politics and religion... there are no facts. You just have perspectives.

Americans seem to be moving in opposite sync to the rest of the western world, and following the third-world down the destructive path of religious and political tribalism.

You need to be more accommodating of other peoples perspectives before you self-destruct.

Aussie of CO @ Jun 10, 2008 22:59:34 PM

Distorter of Truth

Every time I hear one of his speeches ( and I try to avoid them ), he is constantly distorting the facts. And his fans actually believe his nonsense.

I would be amazed if just one time he would get the record straight about serious economic, political or religious issues.

And I thought that Bill Clinton was the master of deception.

John of PA @ Jun 10, 2008 13:56:21 PM

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U.S. News business reporter Matthew Bandyk examines the issues, people, and debates that shape the nexus of political and economic life in the nation's capital.

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