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7 Questions That Will Determine the Success or Failure Of Barack Obama's Second Term

pagaymon Wrote: Nov 20, 2012 11:53 PM
In 1946 the debt was 120% of the GDP, It went straight down to about 32% in 1973. During this period 1946 - 1973 taxes on the Rich were much higher. Marginal rates were at least 70%; they were 93% under Eisenhower. The economy was better than what we now have. For example, median wages went up 3 times as fast as since 1973. CEO's earned 50 times what their workers earned; it is 500 times today. Staring in 1973, the percent of wealth and income taken by the richest 10%, 1%, and 0.1% has gone up at an ever increasing rate.

When British Prime Minister Harold Macmillan was asked what might knock his administration off course, he famously responded, "Events, dear boy, events." There's a lot of truth to that. At any point in time, an unexpected event can throw the political world into turmoil. However, more often than not, it's not the blindside hit that gets you so much as the freight train you've seen coming for miles.

When Barack Obama came into office, he had a number of serious challenges to deal with and not only has he effectively addressed very few of them, many of them have worsened...