Tuesday, November 6, 2012

My Financials Concerning the Election

I cast my vote today which included a vote for the president.  Judging from my earlier post, you can accurately guess that I voted for Romney.

However, I have realized that it would be to my own financial best interest if Obama was elected.  Let me explain.  I work in banking and I'm commission based.  The lower interest rates have greatly increased my income.  I think that if Obama is elected, the economy will remain in trouble and thus, the interest rates will remain low.  If Romney is elected, I'm confident that the economy will have a faster turn around and interest rates will increase which will lead to a lower income for myself.

I realized this prior to voting but I still couldn't vote for Obama because this out of control spending needs to stop.  My Lil Punk's generation will be stuck paying it back.

I talked to my best friend about this today.  She is a devout Christian and Republican.  She told me that her job may be in jeopardy if Romney is elected.  She is an addiction counselor.  Much of the funding for her program and many programs like it rely on federal funding.  She voted for Romney knowing that it may jeopardize her job if he was elected because he is likely to cut much of the federal funding for diffferent programs. 

Have you ever had to deal with making a decision between what you feel is the right thing to do and what may benefit you financially in the long term? 

4 comments:

  1. That's quite the moral dilemma for anyone to go through. Now that it's all over, do you feel like you've made the right choice with your vote? I didn't vote, but I would've been happy with either candidate as president. I will have to give Mr. Obama props for giving a very captivating victory speech though \(^_^)/

    As far as the next generation of Americans to pay back all that debt, I wouldn't worry too much about it because by the time they're old enough to start paying taxes, inflation will have slowly eaten away a sizable amount of the federal debt in real terms :D

    There's not a whole lot we can do to affect national policies, but we do have control over our own micro economic situations, and as long as we teach our own children about the importance of personal finances I'm sure they'll be just fine when they grow up (^_~)

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  2. I do very often feel conflicted between what's best for me and what's best or better for the group/larger masses. I can't justify doing what's better for myself often times, and I've even voted myself out for something that would benefit me, to favor the group. In the long run, we're all in this together, is my opinion.

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  3. Sure, I voted for Obama knowing that I'll likely face a tax increase at our income level. And, I'm totally okay with that, because helping others/providing a safety net (measured in a limited & appropriate fashion) is something that I passionately believe in.

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  4. I voted for Romney because I desperately wanted to stop what Obama is doing. In January, our health insurance premiums are going up by $100/check, taxes will go up if Congress doesn't act (which they won't). I am so glad we have been focusing on paying down debt but last night I was hit hard with the realization that we will be in this crappy neighborhood for a LONG time. Its depressing.

    Selfishly I hope that Mr. Obama is able to persuade Ed DeMarco to allow principle reductions for Freddie/Fannie loans because we have one that started as a Fannie loan (its now not, but we apparently were screwed out of the earlier settlement because of it). A principle reduction would help us to get out of here...but I fear that we won't really have a good place to go.

    Its not looking pretty for the next four years.

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