Nov 3, 2008

Logging onto facebook it is crazy/amazing to see how everyone has "donated" there status to remind people to vote Obama tomorrow. I am very hopeful that for the first time, the youth will put its money where its mouth is and actually vote. That would make me proud. Really proud. I mean the older generations who voted for Bush completely screwed the youth, so it's about time we did something. This passage is from Thomas Friedman's NYT column from November 1:

We are all going to have to pay [for the economic crisis], because this meltdown comes in the context of what has been “perhaps the greatest wealth transfer since the Bolshevik Revolution in Russia in 1917,” says Michael Mandelbaum, author of “Democracy’s Good Name.” “It is not a wealth transfer from rich to poor that the Bush administration will be remembered for. It is a wealth transfer from the future to the present.”

Never has one generation spent so much of its children’s wealth in such a short period of time with so little to show for it as in the Bush years. Under George W. Bush, America has foisted onto future generations a huge financial burden to finance our current tax cuts, wars and now bailouts. Just paying off those debts will require significant sacrifices. But when you add the destruction of wealth that has taken place in the last two months in the markets, and the need for more bailouts, you understand why this is not going to be a painless recovery. 

I'm nervous. Please, please, please gobama! 
 

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