Will President Kerry be able to turn around the Bush economic trainwreck?

[UdoKier]

In fact there are multiple trainwrecks on the way -
the inevitable bursting of the housing bubble,
multiplier effect of the jump in gas prices through all other consumer prices,
the souring number of bankruptcies and foreclosures,
defaults on skyrocketing household debt when interest rates rise,
the "new jobs" created under Bush that only pay half as much as the jobs that were outsourced and their inability to bouy the economy as in past recessions, etc.

[freetobegay]

1. Yes. N/T

[camero]

2. Other

Diminishing expectations due to not enough political will to fix the problems of outsourcing and corporatism. I hope I'm wrong.

[UdoKier]

3. That's implied under "global economy"

ALthough I will concede that "global economy" is window-dressing. A pretty way of describing the looting of our country out from under us by the power elite.

[camero]

5. Ack, shoulda thought of that.

One way to tell would be what he does when Greenspan's term is up and the moves that Greenspan makes when Kerry is in office.

[TheFarseer]

4. We just need the next big thing

in the 20s it was the car, in the 50's it was, I don't know, washing machines or something, in the 90s it was the internet. We just need to invent some new shit that everyone in the world will need. I think it's something to do with alternative energy. As soon as we figure out what the next big thing is, we will be back and better than ever!

[UdoKier]

6. I like your moxie.

I sure as hell WANT that to be true.

Kennedy proved the power of sheer will by putting men on the moon in only 10 years.

I'm sure it's possible. But is the collective will there?

[Selatius]

7. Balancing the budget

All I gotta say is that balancing the budget and not running up deficits is a net plus for the economy. When the government spends itself down the hole like that, it has to borrow money in order to finance its debt load.

When the government does this, it crowds out everybody else who also wants to borrow money in order to do things such as buy homes, finance businesses, or even start new businesses. Banks, in response to the increase in demand for funds, will raise interest rates on loans in order to take advantage of the situation and make more money. Higher interest rates then induce people to stop investing in businesses and such (You're less likely to take out a business loan, for instance, if the interest rates are higher than they are lower), and as a result, it acts as dead weight the economy must bear and can lead to slower growth or even a recession.

I'm not sure if the deficits we're in right now is the biggest cause of this slow growth period. The stock market bubble burst before Bush took office, and it was probably a signal of a slow growth period anyway. It is a natural part of the business cycle. There are periods where the economy booms, and there are periods where the economy slows or even contracts. It was probably coming anyway, but the terrorist attacks only exaggerated it, and the deficits with the higher than normal fuel costs, generated out of uncertainty in the markets due to war and terrorism, are certainly not helping. Also, cutting taxes for the richest can hurt, given that there is less money the government can then give out in the form of loans and grants for people to use (i.e. Pell Grants, Medicare, etc.).

[Barney Rocks]

8. It will be

HARD WORK (snark)

[KG]

9. fucking up the economy has been a bi-partisan effort.

st. william of clinton happily signed the 'free trade' agreements that have accelerated the evacution of jobs, even crappy ones, from this country. expecting help from the dems on this issue is futile.

[sweetheart]

10. Do we have a choice?

Train wreck cleanup is messy, and YES, there is no reason not
to be optimistic. Its all we got.