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Originally Posted by chumdawg
Rather than asking for my opinion, why don't you elaborate your own answers to those questions.
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I did speak to the issues in the very beginning of the thread.
Since then, the Freddie/Fannie mess became front page news.
1)which one is better for gas prices?
I see the Republican party at least trying to do something. The Dems say nothing can be done and that the environment concerns trump the possibility that we might drill offshore or in ANWR.
So, the choice is try something (Republicans) or do nothing (Dems).
There is a separate thread about the Republican party protest of Pelosi's shutting down Congress without a vote on offshore drilling.
2)Which one is likely to improve the auto industry?
Neither. McCain said, "Those jobs are not coming back."
Now, Obama has said that he intends to increase taxes on those making more than 250K per year. Well, after we get past the "Feel Good" impulse reaction to "sticking it to the man", we have to realize that means that your employer is going to get taxed harder. That is bad for all aspects of the economy and the employment rate...
3)Which is likely to improve the banking industry (Freddie and Fannie disaster)?
Passed a bill to bail them out already. The real question I suppose is whether we regulate the credit industry. Banks and other lesser groups created wild loans and gave them to everyone regardless of their credit and income and then kicked those notes off to Freddie and Fannie based on the basic paperwork which does not include information on the person's income (just shows their credit ranking) and does not show their monthly budget. So, Fannie and Freddie pick up all these crazy irresponsible loans and then the whole system collapses and Uncle Sam bails the system out...
Their are problems there. But, regulation worries me. So, I have no set opinion here. We might need to adjust the system at the level of Freddie and Fannie. Perhaps, those two require more information before picking up loans in the first place...
4)Which is likely to decrease the climbing unemployment rate?
Again, I vote for the Republican purely because Obama intends to raise taxes which is bad for a failing/struggling economy.
5)Which is likely to prevent run away inflation?
Neither. The Fed Reserve cannot lower interest rates now because of inflation. The Fed Reserve cannot increase interest rates because it will hurt the economy. So, we have the Jimmy Carter era all over again. No easy solution here.
Have to fix the economy and suffer out the inflation problem...
My primary problem/objection to the Obama economy is the huge tax rate on the top 2% of the nation. That top 2% hire you and most of us. That 2% drive the economy. They can't hire if the tax rate goes up. They can't invest more if the tax rate goes up. They have to deal with additional negative numbers in their businesses. Those negative numbers are dangerous right now.
The whole Progressive/Liberal philosophy (which Alex says is present in both parties based on old historical perspectives and he is right) has to be reigned in especially with a struggling/failing economy.
Lowering taxes and increases government spending into the economy was how Reagan fixed the Carter era problems.