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More Americans Think Obama Can Save Economy — Do You?

A poll released yesterday shows that 55 percent of Americans are at least somewhat confident that Barack Obama's economic team can lead the US out of its economic troubles.

Last week, when Obama held three consecutive press conferences to address the economic crisis, the markets rallied. In addition, Nobel Prize winning economist Paul Krugman dubbed the recently unveiled economic team (made up of economists and many Clinton vets) the "Ministry of Talents."

Considering the recession has been under way for more than a year, I think it's about time to bring it to an end! The day after the election most SavvySugar readers thought Obama would have a positive impact on the US economy. Now that the President-elect has selected his team, are you all feeling confident that the end is in sight?

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StolzeMama StolzeMama 7 years
Tit for tat steph...
jennythereader jennythereader 7 years
Obama has picked a good team, but this is a deep enough hole that it's going to take a long time to climb out of it.
BRANDYNICOLE730 BRANDYNICOLE730 7 years
It's going to take more than a wave of a magic wand. But, now that we have someone who's competent and actually cares about the future of this country, rather than his and his friend's pocketbooks, in time, we will make it through. Not saying that it's going to be easy, for him, or us. We all need to learn to make sacrifices, and stop trying to "keep up with the Jones'."
stephley stephley 7 years
Reagan and George W. didn't draw a smaller government either.
CaterpillarGirl CaterpillarGirl 7 years
What Undave said.
StolzeMama StolzeMama 7 years
Do you think he draws from my point of view that the government should be smaller?? I think not!
stephley stephley 7 years
"Honest question here: what do you think Obama is specifically doing to help the economy along?" As Obama's not yet president, this is premature. We still have to assess just how big a mess he's been left - my guess is we have much more to learn. I'm sure he's looking much more deeply into our actual infrastructure needs than you think, also into the need for and needs of schools and hospitals which many people say could be a valid focus rather than roads. People have faith in him because Obama's intellectually curious, listens to and actually draws from different points of view and isn't locked in to one economic mindset.
mydiadem mydiadem 7 years
I think investment in infrastucture is greatly needed, our highway system was designed and built for capacity of the 50s and 60s and not today. I also happen to live in the Northeast where I can see crumbling roads, unlike in Texas where they have beautiful new highways. Eh, maybe its a matter of prespective and what effects you. But regardless, I don't know how this will turn the economy around (if at all) on its own. The mess is a lot bigger than a single solution.
kranky kranky 7 years
lil- The last article you posted is from the American Society of Civil Engineers. Public works projects are how they make money. I would not call them an unbiased source.
kranky kranky 7 years
lil- I am not trying to pick a fight with you. Please reread my post where I clearly state that the media is whipping up hysteria about crumbling bridges. If you post links, I probably will read them (unless from the NYT - which I almost always skip) if I have the time, and I thank you for posting the information you did. I will restate my position. I do not believe that the economy will be resurrected by repairing new roads. The economy will not be helped by building new roads as those endeavors take years to get off the ground. The statistics you sited are interesting, but IMO they do not justify the economic panecea that is infrastructure investement. They are also relying on data based on 'structurally deficient' bridges - which does not mean on the brink of collapse.
liliblu liliblu 7 years
"A crumbling infrastructure cannot support a healthy economy, so I urge you to join me in calling for national leadership on this vital issue. Our future well-being as individuals, and the well-being of our nation, depend on it." http://magazine.njit.edu/2008/spring/hard-copy.pdf I don't think improving and repairing the our nations infrastructure is a waste of money. But that's just my opinion.
liliblu liliblu 7 years
Here are remarks by Chris Dodd: "When the bridge collapsed in Minneapolis, Mayor Rybak was among the first to respond. When the steam pipe exploded in New York City, Mayor Bloomberg was among the first to respond. And when the Mianus River Bridge collapsed in my home state of Connecticut in 1983, I know that several mayors in Fairfield County joined state officials in responding to that tragedy. Here in Washington, we may cite alarming statistics like the 14,000 Americans who die each year at least in part because of crumbling roads and bridges. Or the 5,500 Americans who are sickened each year from some of the 850 billion gallons of storm water and raw sewage left untreated by obsolete wastewater systems. Or the average American who wastes 51.5 hours a year in traffic congestion. However, our mayors see these alarming statistics as more than just numbers on a piece of paper. They witness how these statistics play out each and every day in their communities." " I commend recent and comprehensive efforts undertaken by state and local governments to raise the awareness of our infrastructure needs nationwide – efforts such as Building America’s Future which Mayor Bloomberg has undertaken with Governors Rendell and Schwarzenegger. The American Society of Engineers estimates that an investment of $1.6 trillion over five years is required just to bring our current infrastructure to an acceptable level. That translates into $320 billion a year – just to upgrade existing structures to serve the needs of our nation." http://dodd.senate.gov/index.php?q=node/4457/print
Cassandra57 Cassandra57 7 years
Where's the option for "No, if Obama proceeds with even half of his campaign promises, he'll dig us in even deeper"? The only way to fund national health, infrastructure programs, etc. and still cut taxes is to print more monopoly money and/or borrow from foreign entities. Do you want China, Russia, and the mideast to own our economy?
liliblu liliblu 7 years
I never said there are a lot of bridges about to collapse or in danger of collapsing. Were are you getting this from? I there a number of bridges and road in need of repair. I'd post links about the current condition of roads and bridges but I doubt you'd read them.
kranky kranky 7 years
To lil and steph- Honest question here: what do you think Obama is specifically doing to help the economy along?
kranky kranky 7 years
lil- I'm sorry - I did not mean to imply that you used the term 'structurally deficient.' I brought that in more as an example of how this issue has become twisted in the media to seem worse than it actually is. I do have to question why you brought up the Minnesota bridge in this context if you knew that it was NOT in need of repair. From my understanding, there are very few bridges that are in danger of collapsing, and it is misleading to say there are and that there are enough of them to cause a huge uptick in current employment numbers (I have read this from a number of different sources). IMO - it is not a great idea to throw money at repairing bridges that may not need it for the sake of employing a miniscule number of people. We don't have money to waste these days. Like I said before, these are my opinions, and I don't expect everyone to agree with me.
UnDave35 UnDave35 7 years
Gooniette - That's an even better idea. We can get the other countries to fight each other, and just supply the weapons. That way we can save our troops, and still make money.
skb9850 skb9850 7 years
I think the economy is going to right itself, providing Obama doesn't do too much to hinder it. And I would say the same thing if McCain had won. The economy is too big and complex to assign blame or credit to any one person.
liliblu liliblu 7 years
"I think Obama and his team will get us out, but I think we're going to be in economic pain for several years. Someone's left us with quite a hideous mess, despite his claim that it was going on 'about a decade or so' before he took office." Once again I agree with you Stephley.
liliblu liliblu 7 years
I forgot to add that I have no problem reading the op-ed piece from foxnews.com.
stephley stephley 7 years
I think Obama and his team will get us out, but I think we're going to be in economic pain for several years. Someone's left us with quite a hideous mess, despite his claim that it was going on 'about a decade or so' before he took office.
liliblu liliblu 7 years
Kranky I am already aware that there was a design flaw. But the collapse brought more attention to the issue of bridge safety and repair. I also never stated that "structually deficient" bridges were on the verge of collapse. Should we wait until a bridge is on its last legs to take an interest? Cracking, corrosion, and miscalculations of weight limits are issues of concern. While improvements have been made there is still a back log of work to be done on our roads and bridges.
kranky kranky 7 years
lil- I'm glad you brought that up. You have stated a common misconception about the state of our bridges. The Minnesota bridge did not collapse because it was old - there was a problem with the engineering. That is a fact. Here is a link to an op-ed piece (warning: it's Fox!), but there is a pretty cohesive disucssion at the end about the real state of our roadways. www.foxnews.com/story/0,2933,459745,00.html If you don't care to read it based on the source, that's fine (full confession: I don't read NYT articles when posted). But, it does highlight some interesting points: namely, that "structurally deficient" means a need for regular inspections and repairs or upgrades - NOT that they are in danger of collapsing. Also, the percentage of "structurally deficient" bridges has decreased since the 90's because we are already putting a lot of money into road maintenance and repair. I see this as throwing good money at a situation that does not require it, but others may disagree.
gooniette gooniette 7 years
Yes, WWII got us out of the Depression, but that was because we started manufacturing and selling weapons to other countries, not because we entered the war. I don't think Obama will be able to fix the economy at all. Printing more money to give to people as a 'stimulus' does not make us a richer country. It just devalues our currency and will prolong the recession we're in.
gooniette gooniette 7 years
Yes, WWII got us out of the Depression, but that was because we started manufacturing and selling weapons to other countries, not because we entered the war. I don't think Obama will be able to fix the economy at all. Printing more money to give to people as a 'stimulus' does not make us a richer country. It just devalues our currency and will prolong the recession we're in.
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