Sunday, March 22, 2009

Opposing for the sake of opposition

Recently the problems at US leads me into thinking of the effectiveness of opposition parties in the government.

Many people look at the main problem at hand, which is currently the bonus of AIG executives. The public outcry is understandable. However, I'm unsure why the outcry is against the present government. Has everyone forgotten? Under whose administration was the bail-out money first given to AIG, and the banks? Who started the no conditions attached bail-out money?

The Republicans are saying that the current recovery plan is no good, but they neglected to give a solution. More of what the Republicans were doing for the past 10 years? More wars? Well, the only assurance for that solution is that the US economy will continue down the Great Depression path for the next 5 years. Then guess what? It's elections time again, and who has the upper hand now?

Sometimes, I think politics are really a big waste of time. Some people opposing ideas for the sake of opposing them, and neglecting to give any solutions of their own. Worst still are those people who just outright oppose the idea without even giving any solution. They just give the generic reply. "It will not work". So the question is, what will? In this current situation, remaining status quo is worst than doing nothing.

In my opinion, what President Obama is doing is that he is trying to force innovation to happen within the next 5 years. If innovation does happen, there will be an explosive growth that will propel US to the fore front, and at the same time lead to more money for the US government in terms of taxes. The target areas seems to be all related to innovation. Education, new research areas, healthcare, etc.

And from what I read from the news, it seems that the opposition is not asking any useful questions, but just putting road blocks at every junction.

The old school will think the only way to decrease the deficits is to increase taxes. They are forgetting the other side of the story. How about increasing the number of businesses in-corporated in the US? Won't that increase the amount of tax collected? Won't increasing the inflow of talent into US increase the amount of tax collected? This brings out my other grouse against politicians who have no knowledge of basic economics.

I wish President Obama the best of luck.

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