The election results are encouraging, but we aren’t done yet. In fact, it is just beginning. It is going to be interesting to hear Obama’s speech today at noon, CST, to see if he is going to be willing to bend, or if he is going to continue to push his extreme policies.
One to watch out for is whether he will compromise and allow the Bush tax cuts to continue.
Another is whether he will use the EPA to invoke Cap and Trade, since doing it legitimately through Congress is now impossible for him. This would amount to the largest tax increase in history, done without Congressional approval – a massive miscarriage of our system.
If Obama is obstinate about the tax cuts, it is going to be a pretty heavy blow to me personally, and millions of others. Same for Cap and Trade, which amounts to the biggest tax increase in history. If both of these things go the wrong way, I estimate it will cost me personally some $4000 to $6000 next year; and I haven’t got it. Naturally, I will take a dim view of either.
Also at this time, the fed is about to print a huge amount of money, creating inflation. It is predicted that within the next two years, the dollar will be worth 20% less than it is now.
Prediction #1: Times are going to continue to get worse.
Prediction #2: Obama will blame it on the Republicans.
Conservatives will soon control the House. Is it enough, and is it in time to save us; or is the damage already too extensive?
We’re going to find out. It promises to be an interesting ride. And, possibly, a scary one.