Minting Coins and Americans – Obama’s Second Term

by cw on January 24, 2013

Though Obama may be known in the second term for giving gay Americans equal rights, his ‘legacy’, if proper legislatures are passed, and healthcare, when Americans start agreeing to its benefits, his dealings on fiscal policy may be faulty and lackluster again.

Firstly, the trillion dollar coin is not going to solve the fundamental fiscal crisis of the American government, it only reduces credibility and makes borrowing harder and more costly for the Americans in the future.

Secondly, he had not learned the lesson from California, a blanket statement implying that all immigrants are successful at top schools like Harvard, etc, is simply not the case. More likely than not, less than 0.01% of the immigrant population are that. By examplifying these as the quality of all immigrants is letting the other 99.99% drain a system where they do not pay taxes or contribute to it. Legal immigrants cry foul for all the procedures, tapes, and fees they have to pay to legally going through the process, only to find out if they were illegal in the first place, they could’ve gotten their citizenship much sooner and less costly. The incentives here is skewed, and dangerous for a nation where the finance is already in crisis.

I am not opposed to immigration, per se, but the methodology of which is the question. It would be infinitely more valuable for the President if he had said that he was willing to evaluate the illegal’s contributions, look at current government’s financial states, and consider policies to allow those with contributions to continue their lives in the States, rather than crying out to ones who obviously disregarded the law to be under his wings, promising them the world for breaking the law, not liking their own countries, and had already embodied the records of draining a system that is not theirs, reaping its benefits so that legal Americans are deprived of their spots in these opportunities.

Moreover, money is not created by printing money (that would result in hyperinflation, serious error already happened in the past), and good Americans are not created by a diploma. In the process of getting to these issues, Obama turns into trampling on the rules that make the system work. This was, again, perhaps due to his inexperience in both government and especially in business fundamentals.

Would we be better off in 4 years? Let’s say it was the lesser evil perhaps, but don’t expect any revivals. Minting Coins and Americans – get ready to bail out the government in four years.

{ 1 comment… read it below or add one }

Erik the Red January 28, 2013 at 9:31 pm

But they at the FED do create money out of nothing, which is why we are headed straight toward hper inflation. They also charge us interest on the fiat money. The irony is that it will be this value-less money that will be used to bail themselves out, in all likeliness, thus creating debt and inflation this nation has never seen.

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