First the question;
In california we have the highest cost of living. Household income that is middle/upper class in other states isn't much here. But the recent stimulus addresses household income on a national level, and makes no accomidations for high cost of living areas. California also leads the nation in foreclosures. What can be done to address California's unique situation? Keeping in mind, household incomes, and we're not really apples-to-apples with other states, but we're taxed as if we are.
[paraphrased] California is in a different economic place than the rest of the country, and is having a particularly tough time, but we're being given a one-size-fits-all solution from the government. What can be done?
Obama's 3 minute, 48 second answer is a tale which bobs and weaves into and out of many cul-de-sacs and alleyways, eventually coming to what could only be his answer; "You'll bounce back."
But what were the topics he brought up on his way to his three word answer? Just a few...
- Cost of living is different in Ca.
- Salaries are different in Ca.
- Deductions (california killed child deductions, and Obama wants to cut charitable contribution deductions),
- Millionaires pay less taxes than secretaries
- Rich people do well when the economy does well
- Bubble and bust
- Bottom up economic growth
- The traffic is bad
- LA transportation needs are different from rural transportation needs
- More people live in metropolitan areas
- California gets hit harder when things are bad, but comes back faster.
I must say, I was so impressed by the length, and breadth of his answer, I just forgot what the fuck he was talking about! Maybe he's more brilliant than I thought...
This is the brilliant orator we keep hearing about? This rambling, stuttering, circumlocutious answer is what the girls are screaming beatlemania over?
Pretend you have a modicum of objectivity, and watch the video yourself...
Skip to 7:08 for the question, Obama's answer goes to the end of this clip.
Obama's answer continues from the beginning of the clip to 2:02.
Pull back the curtain on the wizard. All that's back there is a teleprompter.
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