What are your thoughts or questions related to economics and the election?
Monday, November 1, 2010
Economics of an Election
This mid-term election in Illinois is extremely negative. Ads blaming the incumbents for the economic woes that the public, Illinois and the Federal Government are currently in. Economics can provide each of us with the objective thinking necessary to make sound choices regarding our leaders. The Congressional Budget Office recently reported that stimulus spending through TARP I and II did save some jobs...so that begs the question "do short term plans to help the economy outweigh long term issues like debt?"
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The stimulus *did* save jobs. It just wasn't large enough. Politicians are too timid to spend the cash we need to kick-start the economy.
ReplyDeleteReally I think the election is just annoying. All the ads do is talk about other politicians negatively, and half of the negative comments made are either absurd or completely unrelated to the election. People really only care about their safety and how much of their earned money they can keep. Taxes are what the politicians should talk about, not what some other politician did when they were in college.
ReplyDeleteI agree with Jordan. I think the election is stupid and annoying. There's so much advertising for each republican and democrat. Every ad is negative towards their competitor. It's pointless. In the end, everything has to do with money. Everyone wants everything for the cheapest price. It may not always be that way, but everyone expects the best.
ReplyDeleteWith all the campaign ads all they do is try to make the other person look bad, instead of saying why you should elect them and what good they've done. Yes, the people who are in office now have raised taxes and spent some money but its kind of working and they aren't offering any better solutions anyway.
ReplyDeleteI think that the short term plans provide a upfront benefit to society, but the MSC is greater then MSB when the plan is seen from a further time period. This also falls in line with the election. Candidates tasks seem to appear beneficial right now, but it could end up having a larger MSC than MSB. Candidates would not propose a high cost plan that will have a larger MSB than MSC in the long run because it sways away uninformed/under-informed voters.
ReplyDeletePutting others down only makes you look bad in my opinion. The adds need to stop because for some people who are not educated on the candidates that 30 commercial is what they base their vote of off. I think the short term plans only help out a little bit, I don't think they weigh out the long term issues. When the government fails- they only try harder to find a solution. Therefore, long term issues will always be most important.
ReplyDeleteI think smear campaigns are pathetic if they are blown out of proportion or untrue however, if they include damaging but true information that voters need to hear then its O.K.
ReplyDeleteShort term agendas and plans often disregard the long term future which is quite unfortunate because this is a huge reason why our country and our economy is so messed up. Wall Street made tons of risky investments and crude moves that may not have had consequences in the short run but down the road they caught up with us hence...The Great Recession...