President Obama did a very good job. As cheerleader in chief, one of his greatest tools is the Bully Pulpit of the White House and one of the best intangible weapons to overcome a recession is faith in the country and the economy.
People want to believe we can come out of this mess and they would like to believe it can happen sooner rather than later. As long as the government doesn’t screw the pooch more than it has been doing, the people can shrug off these problems.
We need to believe there is a plan and that the plan has a good chance of working. If that can turn around the doom and gloom the media spits out every minute of every day, we can be back on the positive track.
What is needed is revitalization of regulation and oversight. This should take the form of some high profile head’s rolling, but I’m afraid our system is way too corrupt to actually provide just desserts for the idiots in the Congress and those in the regulatory bodies who failed so miserably in protecting our system.
There is nothing wrong with the system we have. The problems came about due to the failure of the people in charge of and responsible for seeing that it is employed properly.
A real danger lurks in the next few months if we overreact and impose stifling new regulations instead of evenhanded, functioning regulations.
If taxing the “rich” a few more points makes the lower rungs feel better, so be it. It’s not the answer to our problems, but it may have a positive effect on attitudes and that’s something we need. But, if we just shift from Iraq to Afghanistan, where's the savings there?
Structurally we need to get banks back to banking, and watch the investment systems like a hawk. Bad loans have to be worked out, one at a time but the lenders, not the government. Working out a deal with borrowers is preferable to foreclosing for everyone. The Government needs to impose pressure on the lenders to do what they're not inclined to do - work with people. Of course there is a segment who never should have been given loans and they should fail. Others who were dimwitted enough to go into loans that reset to rates they couldn't afford - and for whom the lenders knew, would not be able to service those loans might be entitled to a lower rate for 3-5 years.
Of course the health care system and education are key elements to be addressed. Auto makers will be a long way toward recovery if they can get out of the health care business and some of the other ridiculous union imposed burdens that other foreign car builders don’t have to suffer.
As for Governor Jindal, he was us against a lot. Listening on radio vs. TV was probably a good idea Degs, but still President Obama had the pomp and circumstance, the big loving audience, round after round of applause, (I think The Speaker stood one time and applauded with her plastic smile when the President cleared his throat.) The whole thing was (always is) so artificial it’s sickening. I’d rather the President speak from the Oval Office. He could say more in a lot less time. After all that, one guy, by himself, is going to suffer by comparison. No question the President is as good or better a speaker than Reagan or Roosevelt. No one would have looked good after him.
You can poo-poo the fact that the GOP used their ethnic guy to counter the other guy’s ethnic guy but don’t forget, Jindal was elected governor of LA. He’s a lot more than just a spokesperson for the GOP on a one-night affair.
Any reference to him being an “anchor” baby is fallacious. His parents were here legally as opposed to the illegal aliens who sneak into the country to drop a baby on U.S. soil and claim the right to stay here. In fact illegal immigration is one of the primary causes CA is sinking into oblivion right now. But they're too damn dumb to know it.
With what Bernanke said yesterday (set up?) and the President’s sober, upbeat speech last night, I think they are on the right tract. I don’t agree with a lot of their programs and policies and I think the coming budget bill will hold a lot of hidden stinkers in it, but if the President is serious about working cross-isle and having open, transparent governing, he’ll force Pelosi and Reid to strip out the porkers that will inevitably be slipped into the budget bill..
Good start. Full speed ahead!
