The Observation Deck

It is great to have a president that can answer questions and to explain his programs.

I completely understand the need for Obama's priorities. I understand the importance of health care. Not doing it because it is the moral thing to do to lower the cost - but because it is the only way that we can afford Medicare and Medicaid when the baby boomers really start using it. We have to get the cost of health care down. We have the most expensive health care in the world, but we certainly don't have the best.

I complete agree that we need to get off of foreign oil. We are sending billions to the middle east for oil. These are billions that they can use against us and we certainly aren't using here at home. This has to be a priority.

Our education is slipping. We are not keeping up with foreign countries in terms of math and science. I'm not sure if pouring more money into education is the answer or if it is more of a culture shift that we need. But certainly education should be a priority.

And so should reducing the deficit.

I think we are making a huge mistake if we to make people happy in the short term ignore health care cost improvements, reducing our need for foreign oil and education for short term goals. That is one of the problems our country has - businesses are run for the short term - not long term. We haven't been making the infrastructure investments to insure our long term financial health.

I was wowed, not bored by the press conference. I even understood clearly the reduction in the charity deduction to the level that main street gets for their deduction. Most likely the most controversial provision I thought that there was.

Lynn,

If you believe all the above then do you agree we need to raise taxes in order to pay for it?

I did not watch the speech last night for two reasons. Talk is cheap and I want to see action. Also the Frontline episode on the crisis was much more interesting. Well three reasons if you listen to NPR or watch the interwebs we will almost see the speech in it's entirety in clip form. Any way back on point. The episode pretty much mad the case for or looming deficit as a function of many years of tax cutting and giving the money back to the "people". At some point we have to quit living above our means and that is going to mean higher taxes.

But I do agree Lynn that it is nice to have a president who can put together a sentence.

Obama made a great case last night for rolling the tax cuts back on the richest 5% to the level they were at under Clinton. He pointed out that the Well to do would still be well to do.

He also pointed out that interest on mortages and charitable giving would be 28% instead of 39%. He pointed out that the average person gets a 28% discount whereas the rich get a 39% discount because of their tax rate. The question was whether that would stop charitable giving and he said no. That getting the economy moving was the most important thing to help charitable giving.

He sounded like he was willing to lose cap and trade.

Jim, if he gets the health care cost under control and energy costs under control we have in effect a middle class tax cut and a permanent one that will help the country. So losing the tax cut might be okay.

The deficit would be cut in half in 4 years I believe. The problem is medicare and medicaid in the out years. This can only be solved by reducing our medical costs. So it makes no sense to cut medical innovations that reduce cost. Preventative care makes sense too.