A college student explains obamanomics
 

Recently, President Obama announced that over the next 90-days he is going to work to cut 100-Million dollars of spending out of the Federal Budget.

Sounds like a lot but scale is everything....to give you an idea of how overspent the government is, this college student created a great visual. Brilliantly explained!

I dun think alot of RS'er would care about these, but for those who does ...

http://www.wimp.com/budgetcuts/

Mindblown
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Overspending, federal reserve printing money like mad. Is that why the USD is dropping in value? Will it ever go back up?

well done, its all about the scale of the cuts. most do not understand or care to understand that fact and blow everything out of proportion.

$100 million is chump change, literally.




especially for Hyde :troll:

oh common the average person isnt that dumb..pretty obvious that a 100 million is a drop in the bucket compared to 3.5 billion..cool vid though

It's 3.5 Trillion you average person.

this is from April 2009, not recently lolol

This is off topic, but is it illegal to destroy money?

This isn't actually "Obamanomics", this is a man who is trying to keep a country together and popular opinion.


Given the current economic status in the US, and the unwillingness of the Republicans to do anything he would like to do for long-term savings (ie: the upper 2% tax cuts), the US economic situation is stagnated and stuck. Even if he wanted to (which he appears to) there's nothing doable.

Most nations have that law, yes.

"A college student explains obamanomics"

Quite the negative connotation here, from the video and the title. At least the man is trying to do something considering the situation he inherited from his predecessor (not saying bush is responsible for the housing crisis or anything like that).

I don't understand how people can hate someone who is trying to extend health care to the majority of the country and to protect people from the insurance companies. Someone who wants to spend money on education at a time where American most need it. All while having to deal with the insane amount of wasteful programs that were put in place by his predecessor, which were financed by deficit spending.

People need to give the man some fucking slack. 100 million is better then nothing.

No slack.

The Republican party has moved away from the Bush years and towards a more true conservative nature. hey are currently looking at $35B in cuts and the party internally is saying that is not enough. Republicans dominated the recent elections by campaigning for reigning in budget spending, so they are going after the full $100B in cuts they promised.

Obama's changes to health care do not address the root cause - ~20% of all spending is on administration, compared to ~1% in Canada. Obamacare will add more administration, not less, as he is essentially creating a nationalized insurance company.

Obama's changes will require more taxes eventually, which will drive out business to tax advantages countries. The former CEO of Sun Microsystems recently had a great interview in the Wall Street Journal and highlighted how government taxation and regulation is sending business overseas, and how it is only getting worse, not better.

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I seriously doubt that America's two parties have the peoples interests most at heart. In fact, I think they probably don't care about the American public at all.

How would the Federal Government reduce Admin costs in private Insurance companies? At least Obama's goverment is trying to help out the people who don't have insurance, and the people who get fucked over by their insurance companies.

For all of Obama's talk of "change" and "bringing the two parties together", politics in Washington have continued on the same road as always. But at least he comes up with some good ideas...

Thanks! Discussions like this are possible on any site, just have to post the right topic. :) Checkout the VLS or VLS+ forums, these forums tend to foster better discussion as only those interested in those subjects post there.

1. Yes. They were ready to pack it in and say $35B of cuts average out to $100B if they were applied for the last year - yet the newly elected Republicans said that wouldn't fly, voters are not that dumb - they want to see $100B now, not averaged out over the last year.

These Republicans know they were elected to make change, and if they don't they'll be gone next term. So I do expect the newly elected Republicans to push a lot of their promises.

2. The core values of the Republican movement have been lost cause of the rednecks and greedy businessmen. Smaller more responsible government, more freedom for the people.

Ron and Rand Paul are my favourite, and Chris Christie governor of NJ is becoming my new favourite - yet I wouldn't classify them as tea party movement, more libertarian than conservative. Have you read Ayn Rand's famous novel Atlas Shrugged? The movie is coming out soon, yet the book is epic, I hope many read it.

Ron/Rand Paul want a flat tax (ie less government bureaucracy, simpler accounting) and believe society should be free to do what they want, as long as they government is not paying for it. For example: they are not for or against gay marriage, and since it has no financial impact on tax dollars. Abortions are a little less clear, since government dollars often pay for poor women to have abortions - they would expect these women to pay for it themselves, yet are free to have an abortion if they can afford it.

3. There's nothing unbiased :) if you're interested in finances I suggest starting with Mish's Global Economic Trend Analysis blog. Mish is definitely biased, yet covers so many global topics. His blog has links to other fantastic financial blogs too.

In addition I suggest reading the news daily, several sites if you can. The National/Financial Post is very right wing, while the Globe and Mail is left wing. I like reading the New York Times to get more American news - cause lest face it, what happens south of the border impacts us a lot.

4. I'm going to add your book to my reading list, thanks!

I could list tons of books on various subjects... yet this post is long enough. :)

I work for a health care software company, so I see the problems first hand.

The government can reduce administration costs with more and less regulation. More focused regulation, and less red tape non-sense.

People who do not have insurance do not have it cause they cannot afford it. All Obama's policy does it tell them they have to buy it. Sure, for a reduced cost from the government - yet where do you think that subsidy is coming from? Oh ya, the average American tax payer. So not only will the average American tax payer's premiums increase as people switch to the cheaper government plan, they will pay more tax to subsidize those who switch.

Its not as rosy as we Canadians imagine it. We think he's handing out free health care like we have - yet we're sadly mistaken.

w0w interesting

I agree, yet I do think some of the newly elected Republicans do care about America's finances, and the sorry state they are in.

There's a movement brewing in the US against government employees, and its growing as battles are being won to roll back union benefits. I'm looking forward to when this movement crosses the border to Canada and we start doing the same.

But yet the military defense contractors and the rich won't get touched.

Ron/Rand Paul support ending the war and bringing much of the military home. My favourite blogger, Mish, pointed out what China is doing differently than the US - they are not trying to police the world.

The rich is a different story. Ron/Rand Paul's flat tax would effectively solve this. The rich are taxed, yet have the best accountants and lawyers to get around paying tax. Warren Buffet has commented on this, saying his tax percentage is lower than his secretary's.

good way to put things in perspective. Now he's probably arrested for destroying proper of the united states and attempt to start conspiracy lol.

I agree with a lot of what has been said in this thread.

Healthcare. You can't really compare it to Canada. We pay higher taxes, and in return get free healthcare.

In the states, I get to pay for my insurance, and my neighbors now. Bonus. It's a bad system. Oh, and then the part that pissed everyone off, the mandatory purchase.

Debt reduction.

It's not hard, but takes political will. Defense and social security. Cut it, and cut it hard.

The republicans can't do it, because they have to support the military. The democrats can't do it, because they have to support the poor.

The americans have been, and continue to spend money like crazy on stupid stuff. The Manifest Destiny/Pax Americana policies are making the world hate them, and cost a fortune.

No matter who is in power, the people that depend on the program thats getting cut is going to cry havoc and make a huge stink.

Sadly, this is going to go like Carter in the late 70's. The two presidencies have a lot in common.