How to Survive Barack Obama’s Economy

How to Survive Barack Obama’s Economy
  • Opening Intro -

    It is the economy, stupid.

    Those words were uttered during the 1992 presidential race when Bill Clinton knocked out the incumbent, George W. Bush, to win the election.

    Unlike today, the economy wasn’t in tatters, but it certainly wasn’t as healthy as some believed that it could be.

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President Barack H. Obama has been in office for more than 2.5 years and the American economy and its outlook is owned by him. Many Americans were okay with blaming George Bush for the first several months of his presidency, but by the time the mid-term elections were held in 2010, voters largely repudiated Obama and his economic policies.

America’s current economic climate is not entirely the president’s fault. A huge run up in housing prices in the 1990s and 2000s contributed to a bubble that burst in 2008, ensuring Obama’s ascendency to the most powerful office on earth. But, the problems lie mostly within his own political party as it was Democrats who pressured lenders to extend home loans to people without the means to keep up with their payments. Complicit Republicans are also to blame, politicians who had no backbone to reign in spending under George H.W. Bush’s watch. A number of “Republican In Name Only” or RINO politicians have since left office or were defeated.

We can’t assume that Barack Obama has the nation’s best interests at heart, a sentiment that commentator Thomas Sowell believes accurately defines this president. Americans, however, will find a way to survive Barack Obama’s economy and wait patiently for the chance to decide at the ballot box in November 2012 who should be hired to manage the country for the following four years. To that end we offer timely survival tips in an age of uncertainty:

Do not panic –– As the Dow Jones Industrial Average slid by 500 points in just one day last week and by more than 600 points on Monday, investors may we worried that their portfolios have taken a big hit. They have. The damage won’t be fully known until third quarter financials arrive in October, unless people panic and decide to sell out now. Like any crisis, this too shall pass — hold on to what you own to ride out the current storm.

Look for opportunities — During the last recession, neighbors of ours undertook and completed a major home expansion and renovation. When I asked why they went ahead with it the wife remarked, “we saved a large sum of money on contractor costs.” That said, if you’re sitting on cash and are considering a major improvement to your home or need to buy a new car, then you’re in an excellent negotiation position. Do your research, obtain several quotes and strike the best deal that you are able to reach. Likely, you’ll save a mint thanks to your judicious planning.

Look ahead — At some point, the political climate will change. Either Obama will acquiesce and reverse his money spending policies or he’ll be voted out of office and with him scores of enabling politicians. The former seems unlikely — Obama doesn’t appear to be able to do a “Bill Clinton” and sing a different tune. That means he is highly vulnerable and will likely to be sent packing in January 2013. America’s financial house won’t begin to improve much before 2013, however.

Make a difference — All Americans can make a difference as we seek ways to survive Barack Obama’s economy. Staying healthy. Volunteering our services. Contributing to charities, to our churches and to our communities. Voting in November 2012. Deciding that the American dream is worth preserving and to find our own part in keeping the flame of liberty alive.

I realize that some of what I’ve written may seem harsh or dismissive about the president. That isn’t my intent. Rather, there are decisions being made in Washington that will have a profound impact on the country and on you personally. Obama and Congress share some blame and Americans will articulate their disgust by the way they take action now and at the ballot box in 2012.

See AlsoLetsRenovate: Arrange Financing

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Categories: Money Management