Change.gov - Economy

So what is the new direction that Obama is planning to take the country in? What change is he bringing? For answers, we need look no farther than Change.gov: Office of the President-Elect

Agenda #1 - Revitalizing the Economy

"[The Bush] administration has refused to tackle health care, education and housing in a manner that benefits the middle class."

What does this have to do with the economy? So all of Bush's education reform wasn't meant to benefit the middle class... i'm not an expert on what changes Bush made, but i do believe in school vouchers and charter schools. i also believe that it is not the government's job to provide its citizens with housing, which was one of the campaign points for those supporting Mark Udall (Senator-elect from Colorado), because Bob Schaffer refused to raise taxes to pay for the housing of Veterans.

But i digress, the first thing Obama wants to do is tax those evil oil companies and their "excess profits"; read: he wants to raise the price of gas again. Next, he wants to pump $50 billion into the economy to protect programs such as:

"...health, education, housing, and heating assistance or counterproductive increases in property taxes, tolls or fees."

So... where is the 50 bil coming from? Again, why is this the government's job? /sigh Moving on:

"Provide a Tax Cut for Working Families: Obama and Biden will restore fairness to the tax code and provide 150 million workers the tax relief they need. Obama and Biden will create a new "Making Work Pay" tax credit of up to $500 per person, or $1,000 per working family. The 'Making Work Pay' tax credit will completely eliminate income taxes for 10 million Americans."

Ah, our first redistribution of wealth! Question, if your child is making money, are they exempt from this when both of their parents are already getting the credit? It says two per family. So everyone is now going to get a incentive check automatically every year and again, who is going to be paying for this? Next he wants to "Eliminate Income Taxes for Seniors Making Less than $50,000" and "Simplify Tax Filings for Middle Class Americans." They sound like tax cuts, how magnanimous of him, it almost sounds too good to be true. Of course, no one has ever doubted that, as a Democrat, he would be looking out for the poor, that is a given. Thus you see more largesse in action.

"Double Funding for the Manufacturing Extension Partnership."

This was expected, it's why he was voted for in states such as Minnesota and Michigan. Still, where is the money coming from? Yet more spending?

"Invest In A Clean Energy Economy And Create 5 Million New Green Jobs: Obama and Biden will invest $150 billion over 10 years to advance the next generation of biofuels and fuel infrastructure, accelerate the commercialization of plug-in hybrids, promote development of commercial scale renewable energy, invest in low emissions coal plants, and begin transition to a new digital electricity grid. The plan will also invest in America's highly-skilled manufacturing workforce and manufacturing centers to ensure that American workers have the skills and tools they need to pioneer the first wave of green technologies that will be in high demand throughout the world."

Okay, so Glenn Beck was recently talking about how GM can make cars that make 90 mpg but Congress won't let them because they're not hybrid and don't have a alternative fuel source. Apparently even a required 30 mpg isn't enough for them anymore. Obama wants to force us to use these alternative fuels and hybrid cars that the consumers don't want. The Light Green Conservationist in me shudders, we are now going to be forced to foot the bill for research and development. i don't like the government telling me that i have to go green, no matter how much i believe in it. i do believe in it, but it's not their right to tell me that i have to buy a hybrid car, or that i'm not doing enough to protect the environment.

"Obama and Biden will also increase the minimum wage and index it to inflation to ensure it rises every year."

Wow. A never ending cycle of inflation. Ensure that those small businesses can't hire more people, and that large businesses hire less. Nice.

"Expand the Child and Dependent Care Tax Credit"

Interesting, this seems to be counter-intuitive to the promised raising of a marriage tax.

I'm not going to give a blow by blow of all of this, some of his economic plan actually seems to be okay, yet at the same time i can't help but wonder where he's going to get the money. Sorry, i know i'm a broken record, but it's a legitimate question. There's so many earmarks here, so much increased spending, how long will it be before he not only repeals the Bush tax cuts but raises taxes? i suppose they don't expect me to care because i am so poor that i'll be getting the good end of the redistribution of wealth, but i do. i think he's continuing to woo people into a false sense of security.

There's more i want to say, but i'm so braindead right now that it's hard to put it into words (stupid headache). As Katie said earlier today, everyone has the Right to Pursue Happiness, but that doesn't mean that the government should penalize those that are successful at it and reward those who aren't or, worse yet, aren't actually pursuing. There was something else i meant to say, but i can't remember what it was, maybe it will come back to me.