What is the best way to interpret how the presidential candidates really stack up when it comes to our personal financial needs? The 2012 elections this November will surely bring about the beginning of more change for all of us, regardless of our income. Each American must assess the major candidates for President, Republican Mitt Romney and incumbent Democrat Barack Obama, when it comes to personal financial decisions. Has President Obama done the economic job we’ve expected or would Mitt Romney be the candidate you would choose when it comes to recovery in times when our personal incomes have changed and will change more in the near future? I’m sure there will be many different thoughts and answers to these extremely important questions, but the real question we must all consider is this: Which candidate will put more money in my pocket?
In order to place more money into our economic system and for each American to have more money available to spend these changes need to occur, but how does this happen? There are many factors that go into an increase in personal income which we could talk about for pages and pages. The simplest ways to accomplish this important task is to get a raise or another job, spend less, governmental tax decreases, and lowering the prices of goods and services. The disconcerting aspect of this is that providers of goods and services, for the most part, HAVE lowered their prices and profit margins to a point where it may not be possible to go any lower. This leaves tax breaks, new or additional jobs, raises, and all of us spending less. But spending less takes cash flow OUT of our economy, and in turn calls for job cuts because things are not selling well. So we end up counting on the government to act. The problem is that they have acted with stimulus packages. Do you think these steps taken by government have worked? Or is it time for a change of governmental officials? These are the choices we face and these choices are personal.
Unfortunately, politics is and has been part of our thought process before we make these hard choices. Depending on the way individuals look at politics, this is good or bad. Governmental involvement is a double-edged sword due to the tremendous costs involved with regulation or deregulation. So we must research and read about our choices, learn about the candidates’ ideas and theories and apply them to our everyday decisions that involve finance. In the end it truly is up to us when it comes to financial decisions and politics. The vote is one of our most important rights when it comes to helping us decide which candidate will be president and, in turn, how much money we will end up with in our pockets.