Yes, it’s important – normal Americans, MUCH LESS the President of the United States, aren’t supposed to bow to foreign royalty! To do so signifies that you are a subject to that royal figure. It is an action of obesience, and the leaders of foreign countries are supposed to be equals, not one subservient to the other.
Also, I’m very upset because the President represents the people of The United States of America. By bowing to King Abdullah, he bowed on behalf of you, me, and all of us!
What the hell is President Obama’s protocol advisor doing??
So we lose more jobs than our total population EVERY month that this bill does not pass?
I’ll let you draw your own conclusion…but if a Republican had said this, his intelligence/credibility would have IMMEDIATELY been under attack.
(Yes, she obviously misspoke. I’m just sayin’.)
I keep hearing how the economic downturn “caused drivers to tighten the grip on their wallets” last summer as gasoline prices soared through the $4.00 / gallon mark. Apparently, a declining economy is what caused us to stop driving, and to start looking for more economical vehicles. In a nationwide game of “which came first?”, the prevailing theory is that people couldn’t afford to pay for gas because everything else was already screwed up.
Give me a break!
I would like to propose a differing opinion. Although I believe that the banks and homebuyers were extremely foolish with credit options being extended through the past 10 years or so, I think that soaring gas prices played at least a contributing factor to the start of the economic downturn, and was secondarily responsible for the worsening and subsequent economic breakdown. Pair this with the fact that, for most people, the amount of gas they use on a weekly basis is essentially fixed – after all, you have to be able to get to work! – and you’ve got the makings for our current economic crisis.
At the start of 2007, gasoline prices in the Cincinnati area – and Cincinnati tends to be a touch lower than the national average – were right around the $2.00/gal. level, having averaged around $2.50 for the entire year of 2006. An average car’s gas tank being 12 – 15 gallons, this means it took $24 – $30 to fill your vehicle at the start of 2007. For most people, this price fit into their budgets. Starting on January 25 the price trended steadily upwards, finally peaking on on May 21 at $3.40/gallon. This represents a 70% increase in the price of gasoline. The price bounced around the $3.00 mark until the start of 2008.
It was around the end of 2007 that prices began to steadily rise on just about everything else as transportation costs started to be passed on to the consumer in the form of retail price increases and delivery charges being tacked onto things as inocuous as pizza. This just served to increase the economic pressure on the consumer. Now if your ARM’s percentage rate started to rise, like so many consumers’ did, your options became very few, indeed! We’re still seeing the effect in Cincinnati, as December’s gas & electric bills nearly doubled over last years’…due to the fact that energy prices were locked down in July, at the height of the gas price surge.
So let’s stop ignoring the effect of soaring gasoline prices – the car and gasoline are inextricably a part of American culture…and when prices soar, it hurts average Americans.
The talk radio maggots are going NUTS this morning because Congress might not pass legislation before the week’s end to fund a $700 BILLION bail out of the huge investment banks that have started to fail, putting our economy in a “crisis mode.”
I say, “Good! Let Congress take its sweet time! Take all the time you want…but get it RIGHT.”
I firmly believe that Congress does its absolute best work when it works slowly, ponderously, and deliberately. Our Founding Fathers knew this, and set up checks and balances to ensure that this was the norm. The entire Senate vs. House of Representatives structure is designed around this very purpose – work so that the peoples’ interest (represented by the possibility of relatively quick turnover in the House) is equally represented alongside those who might have more lingering political interest (as represented by the longer terms of office in the Senate). That the two houses of Congress are having a difference of opinion about the currently-proposed plan of action is the top sign that they’re working the way they should be.
Now, admittedly, I’m no economist. However, neither is your average Senator or Representative. And although they have better resources to dedicate to understanding any proposal the Government throws their way, it is still prudent to take a pause to carefully consider any move proposed to be undertaken. In my opinion, the current situation is not one that throwing a bale of greenbacks at is going to fix. In fact, I think that a haphazard plan might make our economic situation worse by further burdening the American taxpayer.