Mon 9 Dec, 2002 11:24 am
The White House has tapped CSX (they're a freight operator) CEO John Snow to replace resigning Treasury Secretary Paul O'Neill. See: http://www.fool.com/News/Take/2002/mft/mft02120902.htm
Do you believe that it really matters to your pocketbook, one way or another, who holds the post of Treasury Secretary? What about other governmental positions, whether specifically related to finance? Do they affect your personal bottom line?
I voted for Chairman of the Federal Reserve because the interest rates effect me the most. I think the Director of the Office of Management and Budget (OMB) has the second most effect and the most influence on the executive.
IMHO, although the Chairman of the Federal Reserve has the most influence on our economy, he's not the person that influences our personal finances. Our personal finances is determined by ourselves: Our educational level, our profession, our health, and how much we save - especially as it pertains to US citizens. For somebody like JD and many retirees on fixed incomes who depends on interest rates for how they manage their personal finance, it will be a long term struggle. Many retirees are now working part time to supplement their social security, because they didn't save enough during their most productive years. I fear many young people in the work force today will be in the same predicament when they retire, because the average debt of Americans have increased significantly during the past decade. My wife and I saved 15 to 20 percent of our income from very early in our marriage for our retirement. I retired at 63, and after four years, we do not have any money worries. My wife works three days a week as a wound nurse, and although she started collecting social security, plans to continue working for several more years, because she enjoys her job. I enjoy my 'job' as a world traveler. c.i.
Jeez, I just brought this thread up and reading the opening question just makes my head spin with possibilities. There are a ton of different ways of looking at this so I wanna take a cop out and say "I dunno!" lol
Off hand I'd say my state legislature (the House here in MA in particluar..) but that's just thrown out there for now.
For me (although I voted for the Chmn of the Federal Reserve), it's definitely a mix (and I realize now I should've made "More than one of the above" the last option. Oh, well).
Fed Chmn - because of interest rates. If they go down again, we may refinance again (this would be our 4th time since getting our mortgage in 1995).
Governor - because of local tax rates and city/state planning. E. g. the Big Dig
Senator and Congressman - because of federal tax rates and cuts, plus federal appropriations (e. g. pork!)