Welcome too "Election Day" 2010. Now, get ready to rot, for the next 2-years. I
can hardly wait. Political gridlock is supposed to be good for business. If
bickering lawmakers can't agree on anything, the thinking goes, they can't pass
laws and regulations that make the economy worse. So will the midterm elections,
which are expected to leave Congress at least partially controlled by
Republicans and squaring off against a Democratic White House, be a help to the
economy?. Don't count on it. A standoff between the Obama administration and
emboldened Republicans will probably block any new help for an economy squeezed
by slow growth and high unemployment. Congress might also create paralyzing
uncertainty for investors and businesses by fighting over taxes, deficits,
health care and financial regulation. One more thing. Where will Glenn Beck and
Rush Limbaugh be on Election Night?. What will be tomorrow's "BIG" Fed
announcement?. The midterm elections are a prime-time test for that loosely
knit and largely leaderless coalition, a force unheard of just two years ago,
called The Tea party. Should we blame them then when the planet crashes again,
like it did in 2008?. MY VIEW.
We'll see by the end of the day that Americans do not want "fundamental change."
We already have a great foundation. What we really want is for our elected
leaders to return to it.