Obama and Reid ahead of FDR
| By User from Jenners, PA - Mar 30, 2009 7:55:10 PM ET |
FDR did not get into office til 1933, three years after the crash on Wall St. Pres. Obama has a thre year head start on solving our economic crisis.
We will have no soup kitchens because of his expanded unemployment benefits. This will also help keep the economy from free fall.
Obama and Reid passed the $800 billion stimulus which is less than FDR taking us off the Gold Standard to fund the debt we need.
The $750 billion TARP and $170 billion to AIG compares to FDR's bank holiday which also saw many bank closures.
The Stimulus bill gives grants to states much as FDR's Federal Emergency Relief Act gave grants to states.
The TARP money that is to be used to aid homowners is similar to FDR's Homeowner Refinancing Act.
All this is being done three years ahead of a possible depression and will bring us out of our crisis IF the congress also passes President Obama's new budget.
The country has to have Energy reform ( Green Energy), it is desparate for health reform, and we have to give help to our Education system.
On energy I believe now is the time to increase the gas tax 4-10 cents per gallon to help pay for all that will be needed,even if it is only for five years.
On health care, besides allowing the Bush tax cuts expire we should increase the 1.62% medicare/medicaid amount to 1.95% and take off the upper limit completely.
Social Security reform; increase the upper limit to $500,000 and also charge those making more than $500K 4%, this will allow us to increase the early reitirerment age to 64 and full retirerment to 69 years on a ten year implementation.
Inflation will not be a problem until at least 2020 due to the whole world having to bail out their economies so hopefully we will not have to increase taxes after the Bush Tax cuts expire and this will avoid what happened to FDR in 1937 when the congress increased taxes and the FED increased the Prime rate.
We will have no soup kitchens because of his expanded unemployment benefits. This will also help keep the economy from free fall.
Obama and Reid passed the $800 billion stimulus which is less than FDR taking us off the Gold Standard to fund the debt we need.
The $750 billion TARP and $170 billion to AIG compares to FDR's bank holiday which also saw many bank closures.
The Stimulus bill gives grants to states much as FDR's Federal Emergency Relief Act gave grants to states.
The TARP money that is to be used to aid homowners is similar to FDR's Homeowner Refinancing Act.
All this is being done three years ahead of a possible depression and will bring us out of our crisis IF the congress also passes President Obama's new budget.
The country has to have Energy reform ( Green Energy), it is desparate for health reform, and we have to give help to our Education system.
On energy I believe now is the time to increase the gas tax 4-10 cents per gallon to help pay for all that will be needed,even if it is only for five years.
On health care, besides allowing the Bush tax cuts expire we should increase the 1.62% medicare/medicaid amount to 1.95% and take off the upper limit completely.
Social Security reform; increase the upper limit to $500,000 and also charge those making more than $500K 4%, this will allow us to increase the early reitirerment age to 64 and full retirerment to 69 years on a ten year implementation.
Inflation will not be a problem until at least 2020 due to the whole world having to bail out their economies so hopefully we will not have to increase taxes after the Bush Tax cuts expire and this will avoid what happened to FDR in 1937 when the congress increased taxes and the FED increased the Prime rate.
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