Thank you, dear readers, for your patience with my excessively long posts as of late. As I'm sure you could tell, there was (is) a lot on my mind.
The good news is that Obama did stand up like a man and say (to some extent) that cutting expenditures will be a top priority in his administration, and he also intimated that Americans also need to be fiscally responsible. That is the closest I've heard so far to no-nonsense, common sense, responsible economics from the candidates.
However, I am concerned about all the entitlements that Barack is proposing; he makes a good point about cutting the fat to beef up the underfunded-but-essential-and-effective projects. My overriding concern, though, is that he will slow down the economy even more with his tax increases. On the other hand, I like what he says about tax breaks for small companies that create jobs here in the US. That's good. I don't know, all in all it is really tough for someone like myself to extrapolate from all the various talk and proposals what has a chance of making it to actual policy and actually work for the country.
One thing is for sure, McCain's health plan would be a disaster. Taxing health benefits!?@? I would see my "taxable income" increase by $12-15,000 a year without having a dime more income - oh, wait. I'd have less because of being taxed. Duh! There are other troubling aspects to his health plan, but that's the worst aspect by far.
As I said in my earlier post, the bottom line for all us regular folks is figuring out a way to keep our heads above water for the next couple years while all of this stuff plays out. As for me and my family (and I'm talking extended family here, too), we should talk amongst ourselves about what we may be facing and how we can help each other. Don't you agree?
I love you, my readers (fans). You are more patient than I deserve.