Frank the Great said:
You should buy into the "Fiscal responsibility and sensible regulation and relief for the middle and lower classes" thing, then. Because that's what people mean when they refer to Obama as the savior. Could be anyone in that spot.
Fiscal responsibility would mean veto pork barrel spending. Does he have a solid record against pork barrel spending?
What is sensible regulation? Obviously right now what happened makes people call for more regulation, but I'm not sure if this is necessarily the best thing in the long run. CLEARLY there's a lesson learned from Merrill, Bear and Leahman, but whom was the lesson meant for? The government? Or the market participants? Why can't self-regulation improve instead of having the government take over? Why is it everytime when something bad happens the government feels the need to take control over everything?
Relief for the middle class yes. Not a big fan of sending a cheque to lower class citizens who don't pay taxes already, because that wouldn't be a tax cut, it would be a hand-out, and don't you guys already have a welfare system? The mortgage crisis has alot to do with people who have no business owning homes buying homes on mortgages they can't really afford.
I'm from a country where we have a welfare system where people don't feel the need to work, because they don't have to, people don't feel the need to use government shelter, they would rather sleep on the streets. You know how we solved this problem? We fucking kick them on the street if there's no reasonable attempt to get a job.
Going with bigger government, going with better benefits isn't always the right thing to do, because the people who DO work and who DO pay taxes ALWAYS end up being the ones paying for it, in other words, the middle class always gets fucked, and the middle class includes those who as a family with two or more kids making over 100k. A health system right now sounds great, except as your population ages, and as your population expands, it gets increasingly more and more expensive, it gets INCREDIBLY EXPENSIVE. And even Canada with a smaller population is moving towards user fees.
The point is to get into things that you can afford. Why is America in debt? Because in a democratic society there are alot more things to spend things on, people don't like making sacrifices, why is China so rich right now? Because they don't spend on the people, THAT's how you have no debt. Do you allow the debt to increase? How would much would you save by reducing debt even by a little bit? But what would that do to your debt market if you drastically reduce your debt?
How would laws protecting the environment affect your country's competitiveness against countries like China which don't have to follow such laws? Why WOULD you follow such a law when other countries won't?
The point is there is really no way out.