American Economy Worse Than it Seems -- Summers

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  fthomas00108/19/08 Report as spam
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  RE: American Economy Worse Than it Seems -- Summers

  Without reallly knowing his history, it is evident that Mr. Summers served in a Democrat administration. No surprise that the only way out involves govt. assistance. The harsh reality is that the major automakers 'failed' years ago via lack of innovation and a stranglehold by self-serving unions. When business is not allowed to cut expenses or close underperforming manufacturing plants, the outcome is predictable. Additionally, the mortgate and housing market was doomed for failure when folks who did not have the intestinal fortitude to save for a downpayment were allowed to sign a mortgage. Only when we address the 'real' issues will progress be made.

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  kgillogly08/19/08 Report as spam
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  RE: American Economy Worse Than it Seems -- Summers

  Since he takes a shot at former Treasury Secretary Summers service to a Democrat administration (as if that fact automatically undermines his credentials), perhaps Mr. Piet should know that Summers accomplishments included enabling federal budget surpluses to repurchase Treasury debt for the first time in nearly 80 years. He was also increased the lifespan of Medicare and Social Security trust funds. According to the Treasury Dept.'s own account, during Summers??? tenure, the United States marked the longest period of sustained economic growth in its history. Is he someone whose opinion I would be so quick to dismiss? I think not.

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  Jack Pierce08/19/08 Report as spam
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  RE: American Economy Worse Than it Seems -- Summers

  No doubt there are enough economic issues to go around out there, and reading Mr. Summers's article reminds me that I'm no economist. However, it's hard for me to simply swallow a liberal's view on anything during an election year. Liberals are always scaring the populous about how bad things are so that they can institute some new governmental solution...especially every four years.
  
  But it is easy to see how things could get worse. One only has to reflect on the socialist tendencies (his various positions on taxes) of savior Obama and his glib rhetoric (asserting that we could get as much oil relief from inflating our tires as drilling) to see how things might change, come November.

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  Jack Pierce08/19/08 Report as spam
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  RE: American Economy Worse Than it Seems -- Summers

  To kgillogly's point, we probably do not have enough history on Mr. Summers to make a decision as to his credibility. I hardly think 18 months as Treasury Secretary would be enough for anyone to leave much of a personal legacy.

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  agfcpa08/19/08 Report as spam
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  RE: American Economy Worse Than it Seems -- Summers

  The American economy has been bad for a long time. It only gets worse and is evidenced by the eroding middle class. The middle class is paying the bills and being squeezed harder every day. Those on the top of the food chain benefit from a tax system that is no longer progressive. Those at the lower of the spectrum contribute little or nothing - not necessarily their fault, but as a society we must be compassionate. When a billionaire like Warren Buffet points out that his assistant pays a higher tax rate than he does and screams that there is something wrong you know darn well that there is. Union power has all but snuffed out (especially during the Reagan administration)and blaming them is as old and tired as the people doing it. It's time for the people at the top to pay their fair share and stop bellyaching about having to pay taxes. Why do wealthy taxpayers believe that is fair for them to pay a lower tax rate than a truck driver?
  Why has supposed free trade resulted in anything but fair trade? Why does the tax code encourage and, in many cases, subsidize the movement of capital to foreign countries.
  The staunchest of conservatives, however, love their corporate welfare. They want a free market when they're making lots of money and a bailout (corporate welfare) when they're losing it.
  I, as a suffering member of the middle class, am not asking for much - but I really think that fairness has gone the way of the buggy whip. Taxes are not evil; the are necessary and those whom we entrust the stewardship of these funds should also exercise the utmost care.
  When all is said and done, there will be only the rich and the poor. If you've ever seen third world countries then you can pretty well figure out what we face.

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  angiet0108/19/08 Report as spam
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  RE: American Economy Worse Than it Seems -- Summers

  Interesting. As I read these comments, I thought about the author's statement, "the people at the policy controls are fighting rather than fixing." Seems that we have a couple of choices.
  
  First, find someone to blame - as seems to be the tone of some of these comments. This has the benefit of helping us all feel a little better in the short term, but it doesn't actually solve the problem.
  
  Second, figure out where you are, where you need to go, and then get on with it. Mr. Summer's report is just one opinion of where we are. Now, let's figure out where we want to go and how to get there...keeping in mind that am imperfect plan is better than no plan, and that while opinions may be divergent, try something.
  
  I can't think of a time when finger-pointing moved an individual, much less a political party or nation forward.
  
  Speaking as one of your neighbours, we're watching you...and we're not impressed.