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Will "Obamanomics" really work?


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I hope Obama's stimulus package is successful, but I believe it will ultimately fail.  Ronald Reagan inherited an economy in the 1980's whose metrics were in many cases much worse than what we are seeing today.  Reagan's economic approach was almost 180 degrees opposite from Obama.  Reagan cut spending, built a strong defense, and cut taxes.  His approach resulted in one of the best periods of economic growth the United States had ever seen.  I fail to see why it would not work again.

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At the moment, it looks like there are changes but I think it will take a lot more to bring back the economy. It usually takes more than 5 years to recover from a crash as bad as this. However, at least someone is taking action.

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I admire Obama for taking action and taking it so fast.  I think it will work but it will take time. The economy is so bad right now that some people are expecting results immediately and that just will not happen.

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I personally think that Obama’s plan will work, however it’s going to take time. We did not get into the situation being as bad as it is now overnight, and it certainly will not be fixed overnight either. How long did it take the former administration to even admit that the economy was in a fall? Far to long if you ask me, much longer than it should have. At least Obama is taking action and taking it fast; too many want it to be alright over night, that won’t happen. But I do think in the end it will work out alright, at least I hope it does.

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  • 1 year later...

Wow, this was an interesting topic back in 2008.  What do we all think about Obama and his plans now?  I remember him preaching about "It's time for a change" and how wonderful he was going to be and what he was going to do for the economy.  Well so far I don't see the positives.  He was going to end war too, remember?

I don't think he is doing terrible, just wondered what everyone else thought about President Obama?

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I think that the change he brought (is bringing) is not the change people were hoping for. I think he is working hard at pushing socialism, which is, in my opinion, a terrible thing that never works.

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I'm from the UK so may be peeing up the wrong tree here but didnt Reagan actually do the same as Obama and raise the National debt to something like 50 % and it was Clinton who actually saved the US from Bankruptcy ?

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I'm in the UK too and I'm afraid that I don't follow US politics all that closely but I do think that the National Health Service we have here is a good thing so I don't understand the opposition to a similar US system.

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I'm from the UK so may be peeing up the wrong tree here but didnt Reagan actually do the same as Obama and raise the National debt to something like 50 % and it was Clinton who actually saved the US from Bankruptcy ?

Wow. The debt did increase under Reagan, but I was surprised to see that the debt increased the most under the Bushes (both GHW and GW). I know that Wikipedia is not always the definitive, but they do take steps to keep it as accurate as possible... this is my source: http://en.wikipedia.org/wiki/National_debt_by_U.S._presidential_terms

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  • 2 weeks later...

That depends -- on who is wanting to do the spending for whom. In my household things don't work that way. I do not want anyone "taking care" of my economics -- or finances. Put it back in the hands of the people -- let them do what they do best -- and get the heck out of the way!

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