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To save or to spend December 7, 2010

Posted by hslu in Congress, Economics, Obama, Politics.
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Assuming the tax cut deal struck between Obama and Republicans survive the objections from Democrats, what will you do with the extra money you are not sending to Uncle Sam?

Will you go out and spend them on something that will make you feel good? Or will you send it to the credit card company to pay down that debt you’ve accumulated over the holidays?

My bet is you will not spend it. Well, maybe a small portion to but juniors something.

Will it make a dent on the high unemployment rate?

No.

The extension of Bush tax cut will only prevent the economy sink even further. It wo’t bring too much of a relieve to the high unemployment figure.

Nonetheless, Obama will claim credit in January 2012 even if the economy stays in the shit hole at that time.

He’ll say that he cares about America’s middle class. He cares about the economy. He didn’t give it a damn to Democrats because they are damaged goods after the mid-term election.

Obama cares more about his re-election more than the future of the Democrat party even though he helped bring the party down to it’s knees.

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