Open forum: Crystal ball time- where will you be in four years?
Filed under: Debt, Home, Career, Health
As we revel in the exhausted quiet of post-election, I though this would be a good time for us to look forward a few years. Take your best guess as to where you personally will be at the time of the 2012 election.
Here's what I see in my crystal ball-
- My stock portfolio will have recovered most of its value, but interest rates will climb as the U.S. finds it more difficult to borrow from abroad.
- Our national debt and the drive for some minimal health care for the uninsured will force the government to take measures to reduce the overwhelming burden of social security obligations. I'm anticipating that the retiree's social security payments will be indexed against their after-tax income, so my income from pensions, IRAs, 401Ks and other investments will shrink my social security check.
- The next step toward national health care will come in the form of an expansion in Medicare eligibility, but not for the middle-class.
- . Without a super-majority, the Democrats will have to accept very modest progress on this issue.
- We will see increased tax incentives on high-mileage vehicles and/or surcharges on low-mileage vehicles. If the latter, I look for this to come about as a way of funding alternative fuel research.
- I expect to be paying more for schools, as the echo generation enters their child-rearing years.
- I anticipate a glut of large family homes in high-tax suburbs on the market as we boomers look to downsize and reduce our tax burden.
- I think I'll be working at a job that didn't even exist in 2008. The Internet evolves way faster than politics.
- I think Barak Obama's race will be a non-issue.
- I think we'll still have our fingers in Afghanistan and Iraq, and neither country will be stable. I'm very nervous about Pakistan and Egypt, too.
Reader Comments (Page 1 of 18)
11-05-2008 @ 2:02PM
Andrew said...
Now that Obama is President Elect the New York Papers are strating to print the truth about Obama's Economic Plan and what it means for Business. Pelosi and Reid have already introduced a new Tax Bill on Small Business and Obama's; "I WANT TO BANKRUPT THE COAL INDUSTRY AND SEND ENERGY PRICE SKYROCKETING", Comments are already starting to hit home. Reported today hot off the Press (A day late and a dollar short) not that the majority of people were paying attention anyway.
NEW YORK-- Planned layoffs at U.S. firms surged to their higest in nearly five years as the economic outlook won't show improvementas new tax plans are put into place, a report by the firm Challenger, Gray & Christmas stated.
The planned announce job cuts total 112,884, an increase of 19%, citing evidence of widespread economic despair as troubles that began in housing and banking infest the rest of the economy while faced with an increased tax burden on businesses as proposed by Congressional Democrats and President Elect Barack Obama. "The fact that nearly three out of four industry will be cutting jobs is proof of how wide the impact of this downtown and the concerns over new tax policies has spread", according to a Representative of Challenger, Gray & Christmas. "A year ago, job cuts were concentrated in the financial sector and homebuilding industries. Job cuts are now being felt across the board and will continue in a pro-tax environment."The worst job cuts will affect several industries, including industrial goods manufacturing, consumer products, pharmaceutical, food and electronics. This report comes as the government is expected to report that 200,000 jobs were lost since October, bringing the total this year to nearly 1 million. The unemployment rate has risen too 6.3% and could possible reach 8% by years end. The U.S. economy decreased by .3% in the 3rd quarter after growth in the 2nd quarter as a result of a government stimulus which was unsustainable. The housing market continues to be a tremendous drain, with the continued decline in residential investment.
Challenger said the data points to a prolong slump, with only slight bumps upward, before retreating back into its downward slide. "Year-end job cuts are typically higher than at other times of the year, but these numbers are significantly higher, suggesting that companies not only have been hit hard, but they do not see a rebound any time in the near future as worries continues over an increasing tax burden."
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11-05-2008 @ 3:29PM
Shontell said...
Your not smart. How do you figure. These layoffs are the fault of a man that has NOT SERVICE as president yet. As I do recall the president current is still BUSH and I think he would agree. It doesn't matter what Nancy Peloski requests now becasue BUSH has to veto it or approve it, Not Obama. And who is to say Obama would approve her request. You can't start knocking a man elected less than 24 hours after he is elected. And blaming hin for things that had begun YEARS before he started his run. Your statements and thoughts are BS. Its funny to me how the statistic showed that the educated WHITE and BLACK americans voted for Obama and the UNEDUCATED WHITE AND BLACK american's voted for McCain. Can you add.
Before you start bashing him. Let him get sworn in and make a decision as the President. I mean dang you allowed Bush to be an idiot for 8 years. Can Obama get in before you call him out his name?
11-05-2008 @ 3:33PM
FMW said...
UNTIL WE HAVE A GOVERNMENT THAT UNDERSTANDS SPENDING AND PORK BARRELL WE ARE GOING TO HAVE ECONOMY PROBLEMS. WE NOW HAVE LIBERAL CONGRESS THAT BELIEVES THE ANSWERS TO ALL PROBLEMS IS RAISE TAXES. THEY DON'T SEEMS TO UNDERSTAND SIMPLE ECONOMICS, DEBT IS A NO , NO, AND FREE GIVEAWAYS CAN'T WORK, ILLEGALS AND IMMAGRATION MUST BE CONTROLED, THIS IS JUST ANOTHER VARIATION OF 1929 ALL OVER AGAIN, THE BEST PART OF IT IS THAT MARGINS ARE CONTROLLED AND THE STOCKS WILL ONLY GO DOWN FOR THOSE WHO MUST SELL TO SURVIVE. ON THE POLITICAL SIDE, WE CANNOT BE THE POLICEMEN OF THE WORLD AND THE TAXPAYERS CANNOT BE THE CHARITY FOR THE POLITICIANS TO GIVE AWAY TAX MONEY.
11-05-2008 @ 4:04PM
Patricia said...
How can anyone even think to put blame on that to a man who hasn't even been sworn into the presidency yet. Obama is our president for at least the next 4 years. People can either accept it or not. But the fact of the matter is that there was a major milestone that happened last night and we the people voted for it. I'm proud and very excited to see the new changes Obama and his team will bring to our country. Will it happen over night? Heck no. It took Bush 8 long years to mess up our country and others as well. It's going to take a lot longer than a day to be elected to clean up his mess.
11-05-2008 @ 5:05PM
G A said...
You know (or should know) as well as I. that congress is not in session. On another matter: Wants, desires and belief are 100% subjective for everyone. It is not possible to know what President-elect Obama wants.
GA
11-05-2008 @ 5:46PM
Scotty said...
CHILL OUT ALL ...We now have a CHANCE for CHANGE
Everything that is FACED ... cannot be CHANGED
Nothing can be CHANGED ... unless it is FACED
11-05-2008 @ 6:17PM
zp said...
You all are negative out there. Talk about the positiveness days, months, and year to come. You must be a republican never learned the bushes lessen. it couldn't be worse than we experienced.
Why not join the Joe the plumber and let him know he got a seat in white house with Sarah Palin. may be left wing.
11-05-2008 @ 7:19PM
obamastinks said...
Andrew is so right and Shontell, do you not know how to spell??? Maybe that is why you voted for Barack Hussein Osama Bin Laden Obama.
11-05-2008 @ 8:19PM
Marty said...
Good comments Andrew. Personally, I'm definitely preparing for worse times ahead. President-elect Obama has promised to increase taxes on corporations and the "super-rich," I believe he called them. Obviously, the majority of Americans can't connect the dots, or just weren't paying attention, or bought the outright lies of this silver-tongued serpent. But connecting the dots on this one is too easy: If they're rich enough to pay more taxes, then they're rich enough to move their company's operations to Ireland or Indonesia, and take all those jobs with them. The victim? The middle class Obama claims to care so much about. If they're rich enough to fall into Obama's tax increase bracket, then they're rich enough to hire accountants to run the numbers for them, and figure out exactly how much they will have to increase prices on the products and services they provide, in order to pass that tax on to us. Because I can guarantee you, they will not pay ONE DIME of that tax increase. I will. And more significantly, this tax increase on "the super-rich" (don't you just hate the liberals' politics of class warfare?) will hit the poor the most, because they are the ones who are disproportionately dependent on those products and services that will suddenly cost more. "How did that happen?" they will wonder. "They didn't teach us this in Economics back in 12th grade. Oh wait, no, that's not it. They didn't offer Economics in 12th grade. It got replaced with African Studies, Multicultural Appreciation class, and that Principles of Self Esteem lecture."
11-05-2008 @ 9:37PM
C said...
I am so confused as to how this information is a "a day late".
I'm assuming by that comment you mean this is Obama's fault.
Maybe you haven't been paying attention lately. Both sides of the proverbial aisle have been stating over and over-that we have in now way hit bottom. Unfortunately, our economy has got a ways to fall yet, or it has according to nearly every single financial person on the planet. Don't state blaming Obama for junk that has been in play for 8 years. Actually, longer than even Bush, it started with the stupid "free trade agreement". Guess what? Business is given kudos for going overseas-we don't have the jobs here. Don't try the Dem congress either if that's where you statement was going. Reps had complete control for 6 years. Dems have had the last two years in congress, but let us not forget, the "Magic 60". Remember, for anything to pass the senate it has to reach the magic 60, anything less and the votes have to come from across the aisle.
You wrote your statement of blame a little premature. Let's be honest-if he went in and changed the US for 100% better, people like you would still be laying blame for something, somewhere. All the above being said, Obama is your President Elect now, and I really believe he would want to help you just like he would someone that voted for him. Let's just hold off the blame for awhile, let's just have a little peace.
11-05-2008 @ 10:00PM
justpicky said...
Tidbit .....What they didn't tell you and million others , 10 million people are out of a job and thousands more monthly , this keeping going , and it will reach 11 million . I seen and heard this "live Tv " from the senators ( C - span ) .
I personally know many people are one of those out of that 10 million who's laid off work , not because they want too , because the company laid them off , they would rather be working . These are people who take pride and devote to there jobs , saved the company millions.
As far as Obama , he will be watched closely ( 24 / 7 )
If he doesnt help this economy , next election , it's going
to be someone else . he will only serve 4 yrs .
Bush he never done anything good in his 8 years
Except for 2 nonsense wars costing $10 billion dollar
a day .
11-05-2008 @ 11:33PM
Sir Thomas Payne said...
Are we not just a cut and dried little old Republican honk. You might look at the calendar skippy. Obama does NOT take office until January. The current God awful unemployment figures are due to your dictator who feels the need to dump a billion dollars a week in Iraq. Name the last business that Dubya has been a part of that actually made a profit.......... Your hero has sold us down the river! Your hero has inked the 700 Billion dollar buy out which will easily tip a Trillion before all is said and done, but I have some good news! It is people like YOU and ME who are going to have to fix the mess! All of the finger pointing has not worked! Who really cares who is to blame. Let us work TOGETHER to make OUR situation better. Drop the hate, malice and contempt for a guy who'se signature still has Senator next to it and think about what You can do to better this mess. I will drop my contempt for Dubya and meet you in the middle. I am an AMERICAN. I am not a Republican nor am I a Democrat. I am tired of shelling out copius amounts of hard earned money and having less to show for it! It is time to learn from our past in an effort to move forward. Screw race or party lines, how about holding people accountable for the spending? How about a Country wide platform of DO THE RIGHT THING! From housing, steel, banking, to health care and education. We should not live in fear of our elected leaders. That is NOT how this country was formed. Our founding Fathers rebelled against such tyrany and oppression under the clause of "taxation without representation". We have just let the reigns get away from us. I forgive you your rant, and I promise to roll up my sleeves right next to you, regardless our personal affiliations, and work diligently to bring us out of this God awful mess we are in. What say you? No mud slinging or finger pointing, just due diligence and civic pride. Two down, 343 million to go
11-05-2008 @ 11:54PM
Joyce said...
Andrew, if you're trying to make us think that something you posted was from a national newspaper, it would be good if the spelling and grammar were correct. Looks pretty phony when it's that bad.
11-06-2008 @ 1:43AM
js said...
Shontell - you are the perfect example of why we should have qualification tests before someone is allowed to vote!
Your comments reveal an astounding level of ignorance, if not pure stupidity.
11-10-2008 @ 11:13PM
neverland said...
Obama was elected less than a week ago. Bush has been president for 8 years. And you're blaming the economy on Obama?! Good grief...
11-26-2008 @ 2:19PM
Joe Henderson said...
Well, the dancing was nice while the music played. Now that the band quit because it wasn't paid, back to the old LPs. .I suppose I am back to the old Yankee adage:
Use it up, wear it out, make it do, or, do without.
Looks like this may become philosophy driven by necessity.
11-05-2008 @ 2:13PM
tom crist said...
Dont rain on my parade Mr. Doom and Gloom
Reply
11-05-2008 @ 5:02PM
Rick said...
Can`t believe that the majority of the country are dum_ as_. Just wait you will see.
11-05-2008 @ 2:15PM
Joseph S W said...
We told you so,,,,,,,,
dumb liberals,,,,,,,,,,
Reply
11-05-2008 @ 2:16PM
Dan Heino said...
You forgot Iran...
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