Good article.

This pdf from the tax policy center that they linked to on page 5 is interesting as well.

http://www.taxpolicycenter.org/UploadedPDF/411749_update_candidates.pdf.

  Wow! An entire discussion on Obama's cures for the economy, yet not one word was said about the unsustainable inflationary abyss and imminent bankruptcy threat that we find ourselves in. Surely, the choice to disregard the most pressing economic problems we have was merely an oversight. While Mr. LEONHARDT is excellent at compiling most of the differing theories behind our failing economy, he hit the wall in the first paragraph of the article when he fell back on that old time favorite "The details are too technical for most of us to understand".  I guess that statement explains his propensity toward choosing suppositional economic theorizing as the cure all to what ails us.
  I admit, though it might be fun watching as the government tries to use a bandaid to keep the dam from breaking, It is still a lesson in futility.  Our time would be much better spent addressing the core issues, instead of trying in vain to remove the symptom but not the cause.  Neither of the main candidates have even acknowledged the problem.  This is the result of having  the status quo shoved so far up their ass's that their feet don't touch the ground anymore.  And as such, they are out of touch with reality.

  The first thing we must do if we want to stop inflation, we must stop the printing and/or electronic transfer of any new federal reserve notes into circulation.
Think about it.
This is the logical first step.
  If you quit inflating, it stops inflation from getting worse. But to do this you have to limit your spending, so were not spending more then we take in.
 Its as simple as that.
  Theres no tax out there that could be large enough to bail us out.
A bail out that would cost an estimated 650k and growing, from every family in America , just to break even.
  Clearly, an unsustainable amount.
 This ones going to hurt no matter what and the longer that we put it off the worse it will be.
But, we do have some choices that will soften the blow. 

  If we drastically cut our foreign expenditures.  That means closing about 100 of our more then 140 military bases world wide. We would save hundreds of billions the first few years.
     Stateside, bases   been closing  like mad, hurting the communities that had grown up around them. Bases on foreign soil are all expenditure, no return. A never ending money pit, costing billions each year,   The action in Iraq is costing U.S. taxpayers a billion a week alone.  For good or bad, right or wrong, good against evil, whatever, this drain is unsustainable.

Heres another one.

  The government has gotten into the bad habit of funding failed government enterprises with borrowed taxpayer funds which burdens ourselves and future generations with the bill.  Theres a reason why these business's went under and taking money out of the pockets of future generations does not address those reasons.  This practice must be stopped.. 

     If we ceased most foreign entitlements and were forced to default of some of our foreign loans, we could save even more of that money we don't have. 
Were bankrupt and we had best start acting like it..
Thats what you do when your bankrupt. 
You don't go down in the basement and print up a few more trillion dollars, do you?  Yet that is what the federal reserve does and has been doing. They have also been inflating the money supply by usage of fractional reserve lending, which allows small banks to loan out up to 10 times more money then they have in reserves  in the form of an electronic transfer, at interest.  Then, the small bank loans it to Joe public at an even higher interest rate.
        The problem is, is that the fed doesn't fund this with funds already in circulation.  They fund it with new money they just made and transfered with a few short key strokes.  Its a system that promotes borrowing and makes bankers the riches men on the block, but at the expense of over inflating the money supply.  In essence, it robs the currency of its buying power. 
I will say it again. The rendering worthless of our currency through the fed and our governments irresponsible (if not criminal) over inflation of the money supply, is the single most important economic issue we face today.  But its not really that overtly complicated.
             We need to end the Federal reserve charter.  They are the root cause of our monetary failure. The federal reserve charter must be revoked.  And we need to default on all of the funds in interest we "owe" them for printing our own damn money.

I have a manila envelope stuffed with bills from countries around the world. Thailand, China, Germany, Ireland, Greece, Italy, Japan, Africa, Spain, Mexico, Brazil, etc. all worthless... some have collector value, but no intrinsic value.  Our dollar will soon be in that manila envelope with all the other fiat currencies because thats what happens to fiat currencies.  Your thinking, not my fiat currency, but yes, your fiat currency too.

      We need to consolidate and account for all the precious metal in all our treasuries and reserves and issue new dollar certificates into circulation redeemable in said gold, silver, copper and platinum.   Federal reserve notes can be fazed out slowly, or they can die all at once.  Its what we do now  that dictates which one its going to be.
 
       Our money has to have a value of something more then just the goods and services they can be redeemed for.  The dollar has to represent something more tangible than just a piece of paper for the simple, easily understood reason that after all is said and done, it will still just be a piece of paper.  a piece of paper with perhaps collector value, but no intrinsic value.  As long as we allow our dollar to be anything less then certificates of deposit, inflation will rob us of of our savings, drive prices up, and bring the quality of life down.

  So, no...I guess I'm not interested in Obama's economics....

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Thanks.

My apologies.

  Suedanim,   The name,"Trickle down economics" was a catch term.  Reagan's rich buddies wifes called Nancy complaining of their horrendous tax burden.  So, Nancy comes to Ron and relays her friends plight.  Ron hands the idea to his team, they come up with the trickle down crap.  The rich get their tax break.  Taxes are raised on the middle class, and life goes on.  But, these tax burdens are only one nail in the middle class's coffin.  The rest of the casket is hammered shut by massive government growth and over spending.  Imagine if you could continue to use your credit card even when it is maxed out.  If you could, you might be tempted to over spend and get yourself into trouble..  Well, the governments had a no limit credit card and they have gone crazy with spending, only problem is that we foot the bill for the governments lack of control and we are forced to pay for every penny they borrow from the fed and foreign governments.   And we pay twice..  We pay interest on new money made by the fed before it even goes into circulation and then we pay again because of the inflationary loss of the moneys buying power.  The more money the fed throws in the mix, the more prices will rise until you will need a wheel barrel full of money to go buy a box of tampons.  It sounds surreal but it is basically the fate of every fiat currency...When you hear about the dollar losing value in foreign markets it is caused directly by the fed and the government debasing the currency.  This is the killer of the middle class.  This is the killer of the U.S. dollar.