Quote:
Originally Posted by wwmiv
I won't disagree about the USGP having an impact on hotel demand, but I will disagree with your conclusion about that impact. If anything, it will have a positive impact.
I also disagree with your assertion that the Presidential election will have any impact whatsoever on the economy. One of the biggest misconceptions the average American citizen has about our political and/or economic system is that the President has the ability to alter the course of our economy.
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Only time will prove you wrong my friend. Every sitting president and their admin during my lifetime has influenced the economy in one way or another. GW Bush is blamed for the last recession by many including Obama and Obama will get blamed for the next one or continuation of this one, so clearly they can and do alter the course. Granted, the war and Katrina didn't help the economy or GW. Need more?
Nixon imposed wage and price controls to try to prevent inflation which would mess with his chance for re election, result...higher inflation.
Carter adopted credit control, which led to a recession. But he also was a champion for deregulation which helped keep the recession short.
Reagon had a huge tax cut package right after he took office and continued with Carter's deregulation policies and the result was years of economic growth.
Skip to Obama, his $800 billion stimulas package did a lot for banks and the auto industry but not much for we the people. There is not much investor, business or consumer confidence in his policies now, result, slow to recover economy and if re elected possible new recession, and a negative impact to the economy.
A president's impact on the economy depends on his ability to get Congress to support his agendas. When support is high, consumer and investor confidence is also high and the impact to the economy is positive. When support is low as I believe it is now, consumer and investor confidence is low, and the economic impact is generally negative. This can lead to recession and some of our planned projects downtown from being built. As bazaar as this sounds, I believe Obama getting re elected could cost our skyline some of the bigger planned projects including the Farmount.