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Wednesday, November 8, 2006Other Dates

Web sites/phone numbers mentioned:

annualcreditreport.com - get your free report
myfico.com - help with credit score
cuna.org - find a credit union
bluenile.com - find your diamond
mtgprofessor.com - help with mortgages
hud.gov - get your FHA money

Democrats need to fight corruption

Corruption in Washington was one of the main factors cited in the results and the large turnout at the polls yesterday. Independents, who are swayed to one side or the other each election, voted overwhelmingly for the Democrats this election because they are sick of corruption in politics. Our federal government is one of the most corrupt in history. How do we know? Well, there is actually an annual “corruption index,” which measures how tough it is to do business in a country because of corruption. According to the most recent survey, the U.S. is now a rival with some third-world countries where corruption has always been an epidemic. Now, it’s part of the picture in Washington. Members of Congress have been taking money – your money – and sending it to large corporations to help secure votes and contracts. It’s one of the reasons Clark believes the country is headed in a dangerous direction. Hopefully, with their newfound power, Democrats will now do something about the corruption instead of just talking about its existence.

Do politics really affect the economy?

Consumers often place way too much stock in politicians when it comes to the economy. The reality is that election results make almost no difference in something as large and unwieldy as the national economy. You’ll probably see the stock market move up and down over the next few days, but it won’t mean anything. In terms of inflation, the job market and the growth of the country, the new Washington picture won’t change much in the short-term. Now long term is a different story. There will probably be an increase in the minimum wage down the road, for example. But that won’t mean that unemployment will rise. What about government growth? Clark is in favor of restricting state government growth. He thinks that states that tax the least grow the most. But most other consumers don’t want to restrict the government when it comes down to it. As long as government does its job of allowing free and open competition and keeping taxes reasonable, not much will change.
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