Last updated 6/18/09

Wednesday, November 5, 2008

And the president is --- oh...

Looks like Obama is our new president, and the Democrats in the Senate and the House are cleaning up. God help us - four years of Obama and at least two years of a Democrat-controlled government. I pray that God will give them guidance and that Obama will be a good leader. Ironic for me to say this, but I hope Obama governs like Clinton.

My vague predictions for the next few years:

Things will pick up over the new few months and barring something like a terrorist attack, which is plausible, America's economy will improve again and stabilize. In anticipation of President Obama's coronation, investment will slow, as he has threatened to raise the capital gains tax.

The Democrats will soon be able to pass all sorts of entitlement legislation, however. Many folks will get a tax refund, although many of the middle class people I know will not qualify. Higher taxes for businesses will mean trouble for a lot of people. Faced with the prospect of lower profits, companies will have to make a decision that every freshman business student learns in college - raise prices or cut expenses. Either way, people lose. Higher prices will lead to inflation, and/or companies will cut costs by (how do you think?) laying people off. So now we have either inflation or unemployment.
Our deficit and our national debt will continue to grow, spurred on by unchecked spending and earmarks. Eventually, someone will realize that the country doesn't have enough money to provide for universal healthcare or extensive investment into alternative energy projects. But damnit, they'll do what they can with what tax money they can and will spend.
True to his word, Obama will allow the passage of the Freedom of Choice Act, abolishing all limitations on abortion and sweeping away years of progress. The number of abortions per year will probably come close to 2 million. 
The international American "brand" will improve, but many leaders will lose some respect for us, and will push the envelope. Obama will be forced to make a decision that could bring us to war. If he chooses not to take shit, he will get a taste of what Bush went through.
And when things get bad, the Dems will do as they have always done: blame Bush. Things are only so bad because we have to clean up his mess, they'll say. Well, we'll see if the American people will buy that again next time.

Anyway, I really hope more positive events unfold, but I see these things in our future.
Addendum: Even if I disagree with him and the values and policies he stands for, Obama is our new president. He ran a frighteningly good campaign (good in terms of effectiveness), and I think even if we dislike the man, we should show some respect to the office. So congratulations to president-elect Obama. I hope he has a good time tonight and in the days to come, because he certainly has his work cut out for him.