On Sept. 1, we observe Labor Day — a celebration of the American worker. Of course, you work hard at your own job, but, when you think of it, every worthwhile endeavor in life requires significant effort — and that’s certainly the case with investing. The harder you work at it, the more likely you are to make progress toward your goals.
So as you think about investing, consider the following areas in which you will need to apply yourself:
The Tea Party has won the budget debate argument. The group has certainly forced politicians in Washington to focus on the fiscal health of the country.
This is a good thing for the country, but the question for a lot of Americans is ... where was the Tea Party when George Bush was doubling the national debt and presiding over America’s worst economic expansion in 50 years? Where was the Tea Party when Mr. Bush, John Boehner and Eric Cantor were passing a new entitlement prescription drug bill, implementing No Child Left Behind, presiding over two wars that were not paid for and pushing the bank bailout bill that a large majority of Americans abhor?
Some pundits appear to be learning the wrong lesson from the surprise victory of Republican Bob Turner in the special election for Anthony Weiner’s seat in New York’s 9th Congressional District: “Mediscaring” seniors won’t work after all for the Democrats, they now say.
Charles Krauthammer put it this way: “There’s a message here that what the Democrats had assumed would be the magic bullet for the next election — the Mediscare campaign which succeeded in N.Y.-29 after the Ryan plan was revealed — may not work.”