CNN's Suzanne Malveaux talks with Suze Orman on the cost of retirement, long-term care insurance, and the economy.
ETR you are right you are not a financial expert and you rationale as to why we are not doing better is way off. 4 years ago your 401k was losing money as most americans lost 40% during the finacial collapse. Now my 401k admin by ING is yeilding 11.5% way more than any bond or bank with iterest can do. SEcond the wages are not controlled by Obama that is your greedy employer not willing to increas your wages beyonf the paltry 2% which used to be 3%. The American business model is broken. Companies no longer have pride in amemerican workers and plainly seek cheap labor oveseas. Big Business has been roaring in regards to profits for the past 2 years. My employer stock was 22.00 in 8/2010 it is now pushing 40.00 and it is a Healthcare company so there goesthe Obamcare care is gong to ruin America argument. The only people that can complain is the 8.3% and correct me if I a wrong the argument from the right is businesses create jobs not government. That being the case businesses are not in the need to hire as they have masteredthe art of getting more from less so there is no want to hire Americans.Your hatred towards the President is crazy as CNN showed us via Mrs. Roamn beuatifully graph the MAJORITY of the deficit still looms from the policies of Bush is is not a hook line but a pure FACTUAL SINKER!!!!! I was maikg 12.31 at Optum health in 2010 quite my job for a better paying job in Detal insurance paying 16.13 so I can honestly say IAM DOING BETTER!!!!!!
I am doing better!
I do not understand why people keep saying we're not doing better now than 4 years ago. First of all that is not the case, but even if it was how is it that everyone has forgotten when President Obama won our economy WAS A DISASTER! IT WAS COMPLETELY IN RUINS due to Bush and the Republican policies. Did you really think President Obama would be able to wipe everything clean and start with a fresh slate? Not hardly. First he had to try and clean up the mess Bush created, and since things were in such disarray he is still cleaning up Bush's crap but he gets blamed?
Under his presidency Osama Bin Laden was killed, many troops were brough home, GM & Chrysler was saved, healthcare for all was made available (what did the Repubs make available?), and so many other good things that I just do not have time to get into right now. Can a Republican make those claims? You have Slick Mitt over here who has not paid all of his taxes and will not come clean about it and he wants tax breaks for the wealthy while we, the working class suffers. You have Paul Ryan who has already told soooooooooo many lies that it doesn't make sense, yet President Obama is the bad guy? No, he is not perfect and I do not agree with all of his policies or stand on things. However, I would rather have someone in office who has kept many of their promises than someone who lies to our face or someone who won't even pay their taxes and then flip us off (because if voted into office that is pretty much what they have done, flipped off those of us who do care about those things).
Orman's a liberal Democrat and she's not telling the truth. Obama and the Dems Lost 4.2 million jobs and created 4.5 million for a net gain of 300,000 jobs in 4 years. The jobs report just released last week shows much lower hiring well below projections. Obama did not balance the budget (or even submit a budget ) or cut the deficit but added over $4 trillion to nation debt. 23% Unemployement\Underemployment with nearly 15% of the U.S. population or 45,800,000 million people relying on food stamps in May. This is an all-time high according to the United States Department of Agriculture. Bowed to the Saudi King and snubbed Israel (left on vacation when Israeli PM addressed our Congress) and Britian our 2 stongest allies. Wearing $600 sneakers to the food bank (who is the real 1%) and spending $20 million US tax dollars on vacations. Played more golf than Tiger Woods because all those vacations were not enough down time. Also added much more Expensive HealthCare instead of cheaper healthcare for all like he originally promised.
Tyrone, your post makes me say the feeling is mutual about your financial expertise. Secondly, you need to write better to get your points across. I've seen better writing skills from elementary school children. one word for you: PROOFREAD. The links I posted are factual numbers that are hard to dispute. You and MS continue the Bush bashing as if it's still his fault that unemployment and the deficit keep rising. No one expected Obama to eradicate everything that happened during Bush's time in office, but it was supposed to get better, he did promise to cut the deficit in half and get unemployment down to the 5 to 6% range, we all know that did not happen.
Bringing Osama Bin Laden into the conversation is the proverbial apples and oranges argument but i will say that if people continue to blame Bush for the economy, you have to give him credit for setting up the operation that was in place for Obama to take credit for killing Bin Laden.
Good for you Tyrone and MS that you seem to be doing better now than 4 years ago, unfortunately, I can tell you that I and many people I know are not doing as well as 2008. I choose not to disclose my finances as you Tyrone but, i am making 20-25% less than in 2008. My benefits package is not as robust as it was as I lost my benefits as i was out of work for close to 2 years and almost lost my house. I can't even contribute to a 401K right now as Bills are the same amount even if my wages/salary are not. i am doing contract work now and am always fearful i will not find work again when my contracts expire. I am in a different field than you in IT. Contract work seem to be the norm now instead of the exception. If you think my life is better than 4 years ago, you are sadly mistaken.
I am better off, am now debt free. But it came thru a lot of hard work and keeping within a budget.
I'm going to miss Kristen Wiig's impersonation of Suze Orman on SNL.
I'm doing much better than I was a couple of years ago, PLUS now I don't have to worry about losing everything if I get sick. Thanks Obama!!
I am doing better. I was layed off during Bush admin, called back during Obama admin. Now have purchased a simple home, have health care, live simply (by choice). My experience is that people who say they are not better off now are the ones who foolish spend on gas guzzlin suvs, purchase homes out of their price range, waste money on 500 channels of satellite t.v., buy ridiculous plastic trinkets at the check out that are made in China. P.S., why are there so many job openings on Monster, Craigslist, Jobsearch, etc.?
@ whateva– Gas will eventually hit $9 gallon and go beyond that. At one time it was $.25 gallon and nobody ever dreamed it would hit $1, but it did, and everyone got used to it and survived. Prices of everything went up along with it too. The price of oil and gas drives everything else in the economy because EVERYTHING is built around the use of oil, everything. I also think at some point in the future only wealthy people will be able to buy oil related products because of their expense.
ETR, I am sorry your not better off than 4 years ago. Not everyone is going to have the same results unfortunately. I am not tremendously better myself (but certainly more secure than 2008) but I know a better leader when I see one. And Obama has weathered a very rough storm that we are coming out of. With no help from parts of our own government that spent excessive time and money trying to just make Obama look bad while not helping us get more jobs. I say to those so called representatives, "you wasted our precious time obstructing progress for the majority." Now its time for those obsructionists to get out of the way! We could have had more economic progress if Congress had worked harder to to do what is right and not just tow their party lines.
The thing we have to remember is whose fault it is why things are bad. That always helps me feel better when I can't think of a solution to the problem.
We're headed in the right direction – could be faster, but the rest of the world (markets for our products) has to recover for real growth to happen. At least we've got health care if something happens regardless if we lose our job or not.
Given what he started with, Obama's doing OK. Romney's shown himself to be surprisingly naive, two faced and untrustworthy (more so than the average politician) and Ryan is down right frightening. Those two could very well get us involved in multi-trillion dollar wars and plunge the economy into recession or even outright depression.
Its funny that everyone who opposes Obama wants to focus on the economy. Are these people just concerned about our other American brothers out of work? or are they paid writers? If the dow and s&p is any indication of our economy, they sank about 50% after the 2008 crisis. which means about 50% to a min of 30% of our economy evaporated (mind you its not GDP (14T) its the entire economy (200 to 400 T approximate estimate). How does anyone think we can generate about 60T to 120T in a span of 4 years. The GDP has to grow at the rate of 50% for that to happen. The max growth we ever witnessed is about 4%.
Orman is a liberal and democrat, but she is also a financial expert and backs up everything she says with solid figures and double checks everything. She has a reputation for being honest and trustworthy. A lot of conservatives would benefit from having someone on their side like her who is as good at double checking the facts.
I am definitely better off now than 3.5 years ago. I am one of those people with multiple engineering graduate degree holders that took the axe. Thanks to Mr. Obama:
– I have had multiple job offers and gainfully employed
– my 401K has more than doubled.
– house payment went down from almost $2000 per month to $1350 per month.
– paid a huge chuck of credit card debt.
I am willing to bet anything that the entire middle class including those who are unemployed are better off today than at their lowest points due to the Bush economic disaster. As the President says we still have ways to go to make sure everyone who is willing to work has work to do. But there is no question as a nation we are much better off today than where President Bush left us off.
Everyone is saying the economy is worse but the company I work has seen growth each year. Also If you look at Romney taxes his investments are doing well. So if the economy was doing so poorly why didn't he lose more money in his investments? He had one lost and the other three were gains really good gains.
America is a nation in decline – a sad fact no single president alone caused. Over the last 12+ years the average productivity of the American worker has significantly INCREASED while wages have significantly DECREASED, all while the costs of education, energy, healthcare, food, housing, transportation, and other living expenses have all doubled or tripled, if not quadrupled. That my friends is a formula for misery and the American People are sick of it. But what I am really sick of are those like the people on this board who all line up behind their respective candidate and tow the party line while pointing the finger at the other guy.."It's Bush's fault".."It's Obama's fault".....or "It's Republican policies" "It's Liberal policies". Guess what people? It's Obama's fault, Bush's fault, AND Clinton's fault! The reason all of our jobs and wealth got shipped over to China and India is because Clinton, the DEMOCRAT president, signed NAFTA, a piece of REPUBLICAN legislation allowing Big Business to go find cheap labor. Yeah, it gave us a little boost in the 1990s but we are paying dearly for it today having no jobs and in debt up to our eyeballs in debt to China. When are you people going to realize that neither Republicans NOR Democrats give a frog's fat you-know-what about you or me? Do you honestly believe either Romney or Obama "cares" about the middle class? They don't care about you or your family. Like any other human being, these two men care about those who can help them, or who have helped them, advance their own political careers and respective agendas – and THAT AIN'T US. That's Big Business. Banks, Oil Companies, and Wall Street for Republicans....Green Energy companies, Trial Lawyers, and Unions for Democrats. These are the special interests that truly run our country and who these guys truly care about – not you. The sooner ordinary Americans wake up and accept this, the sooner we can begin replacing this permanently damaged and non-functioning two party system.
Boy it will be great to get read of a vacant chair that has given us 40+ weeks of 8.1% unemployment, a 49% rise in food stamp recipients, $16,000,000,000 in debt and one in six Americans in poverty. Jobs not big government
Why do people think the past all belongs to a particular president. Doesn't anyone realize there was 9/11, the enron crisis, the media frenzy that created the fear of the economic crisis. why does the president always get the blame or credit for the economy during their presidency. Don't people realize the details of the congress make up and other outside factors that came to play from many prior years of policy. why do people simplify so much?????
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