While the progressives and the media would rather distract and silence the message of the Tea Parties, the truth of their message is still evident. The left can’t understand the protests. In their minds, Obama’s going to lower taxes and Obama’s going to remake the country better. In their minds, they are off the hook. Well you’d need to have your head in the sand to believe that reckless government spending is going to bring all this about.
March 20th seems like ages ago, but let’s turn back the time and highlight some of the key quotes of the AP article “Obama budget could bring $9.3 trillion in deficits.” Keep in mind that this budget does not include the stimulus, the omnibus, TARP and proposed TARP2 bill.
“In his White House run, Obama assailed the economic policies of his predecessor, but the eye-popping deficit numbers threaten to swamp his ambitious agenda of overhauling health care, exploring new energy sources and enacting scores of domestic programs.”
I made the mistake once of saying, “Obama is doing what he said he would do.” I quickly amended that statement. Obama promised us fiscal responsibility. He promised to go line by line and remove wasteful spending. He said he would not sign legislation with earmarks. He blasted Bush’s spending only to more than triple down on that spending. Spending which all Americans (right and left) agree were irresponsible.
“The dismal deficit figures, if they prove to be accurate, inevitably raise the prospect that Obama and his Democratic allies controlling Congress would have to consider raising taxes after the recession ends or else pare back his agenda.”
What? Did Susan Roesgen not hear any of this at CNN before her meltdown in front of yesterday’s Chicago Tea Party? This was reported nearly a month ago. AP points out the biggest reason why the coveted Obama Tax cut (thanks for the $13 a week, Obama) is going to end in 2 years. Interesting how $13 bucks matters to Obama now, but it didn’t over the summer when gas tax relief was proposed.
"Deficits in the, let's say, 5 percent of GDP range would lead to rising debt-to-GDP ratios that would ultimately not be sustainable," Orszag told reporters.
Deficits so big put upward pressure on interest rates as the government offers more attractive interest rates to attract borrowers.”
What do I have to say? Obama’s own budget chief said it all, the numbers aren’t sustainable. I love the investment in the future argument, but how are we to get there if spending is not sustainable?
“Obama's $3.6 trillion budget for the 2010 fiscal year beginning Oct. 1 contains ambitious programs to overhaul the U.S. health care system and initiate new "cap-and-trade" rules to combat global warming.
Both initiatives involve raising federal revenues sharply higher, but those dollars wouldn't be used to defray the burgeoning deficit and would instead help pay for Obama's health plan and implement Obama's $400 tax credit for most workers and $800 for couples.”
So the tax on the 5% has nothing to do with paying off Obama’s deficits? So who’s going to pay for it all? I know it’s hard to believe, but you cannot confiscate $9.3 trillion dollars from the rich, they don’t have it. Perhaps, trillion sounds like too small of a word, so here is what $9.3 trillion looks like, $9,300,000,000,000. Yes, I am getting $400 a year from Obama and in return he is giving me a bill for $67,971 (that’s $9.3 trillion divided by 138 million tax payers) and the progressives can’t understand why people are protesting. Who’s going to pay the bill? We all are and that means you too. Progressives! It will either be in the form of higher taxes or in the form of an economic calamity.
I’ve only covered Obama so far! I didn’t even get into Bush. I’ll leave the progressives to level the spending charges there. Even before Obama the US had the 2nd highest corporate tax rates, which are not too expensive to cut as some would say. Obama has proposed the 2nd highest capital gains taxes. The government has squandered our social security funds. I live in NY, which means I pay the highest state income taxes, the highest state sales taxes, the highest gas taxes, Patterson’s proposed the highest state energy taxes, and I live in an area that has the highest property tax rate in the country (mostly thanks to unfunded state and government programs).
I’m surprised the left’s surprised that this right wing crazy is upset. When Obama said he was going to bring back “spend as you go” and cut wasteful spending, he didn’t count on people holding him to it. I see he was right about the left giving him a pass, but there were some paying attention and those some got together in huge masses yesterday to remind him of his promises.
Showing posts with label TARP. Show all posts
Showing posts with label TARP. Show all posts
Obama Facing a Mounting Rebellion That His Presidency May Never Recover
Thursday, April 9, 2009
I, like others in this country, had high hopes for Obama. I didn’t vote for him and there was much I agreed with in his policies, but at least there was hope that he would get it right in the end. After all, he recognized a lot of the country’s main problems like energy independence, health care reform, and the economy. I simply did not agree with his solutions to these problems. Obama proclaimed himself to be bipartisan and open to differing and creative ways to deal with these problems. However, and I need to amend some statements I’ve made regarding Obama being a consistent politician, Obama has not followed through in regards to how he intended to achieve his goals. Although the far left has enjoyed watching Obama’s dismissing and patronizing attitude in dealing with this country’s institutions (one’s they’ve hated for decades), they have sacrificed their plans for a few months of feeling vindicated. Even now they are in denial that there is a massive revolt reaching critical mass and Obama is standing in its wake. This post would take far too long to detail and connect all the dots, so instead I’m going to cover the biggest movements.
The TARP Rebellion – I know the minute I write this first point I’m going to get responses about AIG and how every bank is cheating and stealing from the people and how Obama needs to shake these guys up and keep them in their place. Though this may certainly be true of some financial institutions, it is a very broad brush. Instead of speaking out for the majority of banks that really were and are doing the right thing during the AIG fiasco (which was bad, but severely blown out of proportion), Obama passed the buck off on many of the innocent as well. Today there are a growing number of banks starting to speak out against TARP and some of the executive abuses associated with the program.
“When we took the money, it was because only the good banks were going to get the money, the strong banks,” Korstange told CNSNews.com. “We believe that we are and we know that we are a strong bank and that’s why they came to us and asked that we take it (TARP money).
“Then public perception, quite frankly, led by some of the politicians, changed--it became bailout money and it completely changed the perception of what (the TARP program) is.”
“Once that happened, the politicians decided they could run the banks (and) that they could tell us all the things we can and cannot do,” Korstange said. “So we just said, ‘Hey, we don’t need this, we didn’t need it at the beginning, and we’ll give it back to you.’"
Sbj.net reported this in regards to Richard Davis, CEO US Bankcorp:
Last month, Davis publicly called TARP "lousy" and "just trouble" during a speech to the Thrivent Financial for Lutherans Business Leaders Forum, according to a report in the St. Paul Pioneer Press. After introducing the program as a way for banks to sustain lending and acquire troubled institutions, the rules have changed, Davis told the group.
"Now they're punishing you for having the capital," Davis reportedly said, adding that he wouldn't let U.S. Bancorp become "collateral damage in an attempt to nationalize the banks."
Today Reuters pointed to the growing voices in the banking industry:
Banks such as Goldman Sachs Group Inc, Morgan Stanley and Bank of America Corp have signaled their eagerness to pay back the money as soon as possible.
Reuters went on to describe that the Treasury is reluctant to allow these funds to be returned. Wasn’t Obama supposed to be reaching out to everyone and heal divisions? Where does Obama fit in? He wants TARP 2 if you can remember, but I’m starting to doubt whether it will come to fruition as banks are turning TARP 1 into a battlefield.
State Sovereignty – Remember how Obama was going to put strings on States receiving TARP money? The media has been ignoring the growing number of states passing resolutions affirming their state sovereignty. Media coverage is so small that I cannot say for certainty how many states have passed resolutions (there were 4 that had passed and more than 30 states with proposals on 3/27).
Ford Capitalizing on the Obama Motor Take Over – Borrowers worried about government take over have settled Ford Bond debts for 38 cents on the dollar. Theglobeandmail.com had this to say:
And Ford, unlike its Detroit rivals, has an army of senior executives, designers, engineers and marketers here, all available to talk the Ford line. Ford is trying desperately to shape its message and that message boils down to this: “I'm not with stupid.”
Obama’s power grab has investors, suppliers and even buyers nervous over continuing their stakeholder status with GM and Chrysler. If Ford capitalizes, this could mean disaster for the companies that Obama is going to infuse with tax payer dollars and will need to show a turn around lest he lose political capital on his failed power grab.
Tea Parties – Another big development is the tea party movement. There are protests occurring in over 1,800 cities planned for 4/15. What’s most important about this movement is that those joining these movements are not people who have been political activists in the past. The PEW poll showing Obama the most polarizing President in the modern age seems to be ringing true.
These are just a few of the many growing developments. I’ve left out Obama’s waning support for his budget and an increasingly aggressive foreign policy landscape, even as he looks to “heal” America’s world image. The truth is I believe much of this could have been avoided had he proven himself the negotiator and centrist he tried to portray himself, but you don’t stiffen your neck in an aggressive posture unless your willing for a fight. There truly is something to working across the isle. It’s what the people voted for, but what we got was someone focused solely on his own progressive agenda, no matter what the political cost.
The TARP Rebellion – I know the minute I write this first point I’m going to get responses about AIG and how every bank is cheating and stealing from the people and how Obama needs to shake these guys up and keep them in their place. Though this may certainly be true of some financial institutions, it is a very broad brush. Instead of speaking out for the majority of banks that really were and are doing the right thing during the AIG fiasco (which was bad, but severely blown out of proportion), Obama passed the buck off on many of the innocent as well. Today there are a growing number of banks starting to speak out against TARP and some of the executive abuses associated with the program.
“When we took the money, it was because only the good banks were going to get the money, the strong banks,” Korstange told CNSNews.com. “We believe that we are and we know that we are a strong bank and that’s why they came to us and asked that we take it (TARP money).
“Then public perception, quite frankly, led by some of the politicians, changed--it became bailout money and it completely changed the perception of what (the TARP program) is.”
“Once that happened, the politicians decided they could run the banks (and) that they could tell us all the things we can and cannot do,” Korstange said. “So we just said, ‘Hey, we don’t need this, we didn’t need it at the beginning, and we’ll give it back to you.’"
Sbj.net reported this in regards to Richard Davis, CEO US Bankcorp:
Last month, Davis publicly called TARP "lousy" and "just trouble" during a speech to the Thrivent Financial for Lutherans Business Leaders Forum, according to a report in the St. Paul Pioneer Press. After introducing the program as a way for banks to sustain lending and acquire troubled institutions, the rules have changed, Davis told the group.
"Now they're punishing you for having the capital," Davis reportedly said, adding that he wouldn't let U.S. Bancorp become "collateral damage in an attempt to nationalize the banks."
Today Reuters pointed to the growing voices in the banking industry:
Banks such as Goldman Sachs Group Inc, Morgan Stanley and Bank of America Corp have signaled their eagerness to pay back the money as soon as possible.
Reuters went on to describe that the Treasury is reluctant to allow these funds to be returned. Wasn’t Obama supposed to be reaching out to everyone and heal divisions? Where does Obama fit in? He wants TARP 2 if you can remember, but I’m starting to doubt whether it will come to fruition as banks are turning TARP 1 into a battlefield.
State Sovereignty – Remember how Obama was going to put strings on States receiving TARP money? The media has been ignoring the growing number of states passing resolutions affirming their state sovereignty. Media coverage is so small that I cannot say for certainty how many states have passed resolutions (there were 4 that had passed and more than 30 states with proposals on 3/27).
Ford Capitalizing on the Obama Motor Take Over – Borrowers worried about government take over have settled Ford Bond debts for 38 cents on the dollar. Theglobeandmail.com had this to say:
And Ford, unlike its Detroit rivals, has an army of senior executives, designers, engineers and marketers here, all available to talk the Ford line. Ford is trying desperately to shape its message and that message boils down to this: “I'm not with stupid.”
Obama’s power grab has investors, suppliers and even buyers nervous over continuing their stakeholder status with GM and Chrysler. If Ford capitalizes, this could mean disaster for the companies that Obama is going to infuse with tax payer dollars and will need to show a turn around lest he lose political capital on his failed power grab.
Tea Parties – Another big development is the tea party movement. There are protests occurring in over 1,800 cities planned for 4/15. What’s most important about this movement is that those joining these movements are not people who have been political activists in the past. The PEW poll showing Obama the most polarizing President in the modern age seems to be ringing true.
These are just a few of the many growing developments. I’ve left out Obama’s waning support for his budget and an increasingly aggressive foreign policy landscape, even as he looks to “heal” America’s world image. The truth is I believe much of this could have been avoided had he proven himself the negotiator and centrist he tried to portray himself, but you don’t stiffen your neck in an aggressive posture unless your willing for a fight. There truly is something to working across the isle. It’s what the people voted for, but what we got was someone focused solely on his own progressive agenda, no matter what the political cost.
A Call to Sanity: 3 of 3 on the new TARP bill
Thursday, April 2, 2009
It was February 13th, 2008 that George Bush signed his stimulus check bill into law and thereby began the most irresponsible, inefficient, and ineffective fiscal stimulus policies that government has ever enacted. It started with the rebate checks, then TARP, then auto company loans, then the Obama’s stimulus, then the omnibus bill, now proposed new regulations, the take over of the auto industry, a proposed new TARP plan, and the Obama budget. Bush spent almost 1 trillion and Obama has spent 1.2 trillion with plans to spend another 2.8 trillion with new TARP and his budget (please note, his budget is far more, but I’m only counting his deficit spending in his budget). These plans have already weakened the position of the nation, limited our options in a time of recession and are or will be utter failures. All the while, congress has barely lifted a finger in opposition, nor have they been open to opposing views and bipartisan ideas.
I’ve been blogging on all of these over the last two months, but wanted to tie it all together with my opposition to the new TARP Proposals and Obama’s budget. I feel it is important to pause for a moment and look at what has been done and what we are doing, before we continue this wanton bleeding of the American economy. I urge you to please consider these failures and ask yourself if we should continue allowing our elected officials to cram the same ideas into law over and over again, without debate and without consideration of alternatives.
So here is a brief history on the policies and failures. See my February post for a discussion on Keynesian Economics. The general rule is that stimulus most change the rate of consumption which also increases investment or change the rate of investment which increases consumption:
Bush’s Stimulus - This was a step in the right direction, but had no staying power. Although the large payments were likely to increase spending, it did not have any long term change in consumption. It was a one time spending spree. Also, the high cost of gas over the summer ate up most of the funds.
TARP - Although it helped to stabilize banks in the short term, it created a large veil of secrecy that has caused instability in the markets to this date. Investors in stocks and companies investing in new capital will not take risks where there is a large degree of uncertainty regarding the risk they are taking. The TARP bill laid out no frame work aside from the dollar amount of the bill and that the Treasury Department was in charge. As a result, you have companies sitting on their funds waiting to see what happens to these banks and investors shuffling their money around trying to guess at what the government is going to do. What do we expect? The bill was rushed into law and set no specifics as far as how the bill was to be carried out. Who was to get what, how much, and what were they supposed to do with the money once they got it? The idea was that institutions were supposed to use the money to back their troubled assets or rid themselves of it. Little of this occurred. Instead, institutions sent the money into their regular operations treating the cash like it was some buried treasure recently found in their basement. In the wake we’ve found miss appropriation to the tune of 40 billion from the Treasury and AIG preferences in paying out billions to foreign companies. Let’s not forget how Geithner dropped the ball with the AIG bonuses. All of this caused the persistence of the credit crunch while a billion dollars sifted through the system like clutching a fist full of sand. The more sand the banks grabbed, the more the sand slipped through their fingers.
Auto Industry Bailout - You can look at my previous post. In taking over the auto industry we have both set a dangerous precedent where government can seize control on a whim, while at the same time causing more uncertainty. The structure of a corporation has always been to allow the shareholders a say in how the company is run. What investor would buy into a company and relinquish their ownership rights to the government. I know many think the rich run companies, but CEOs run the company, they do not own it.
Obama’s Stimulus - I have previously tackled this waste of a bill in my February posts. However, only a month later and we can see how immeasurably useless this bill is. The $400 a month per person, though the general economic theory is an excellent idea, fails in the same way Bush’s stimulus fails and that is that $13 dollars a pay check does not change one’s rate of consumption. Infrastructure spending has become an utter joke as many Republican and Democrat controled legislatures move to use the money to fill in budget gaps. Green energy may create jobs one day, but we’ll be waiting years to see the impact. The reason I’m going back through all of this is because we had an opportunity to get it right. I’ll be the first to admit that Bush did not leave Obama a lot of room to work, but I strongly disagree that this let’s Obama off the hook. A true leader works with what they’ve got. I can only imagine Obama leading the revolution instead of Washington and the endless complaints at each battle lost. How he was hindered by the fact he only had farmers for soldiers where the British were carrier professionals. Obama has missed the important step of American ingenuity, which has almost always been leaders finding solutions to problems using the resources available even if those resources are limited. Obama failed this test of leadership and used his first legislation as President to pass a wish list of “down the road” agendas that will have no impact on the economy in the short run. Since then the world has ceased to finance American debt, leading us to print our way out of the problem. Though I am speculating, I have no doubt that a serious and well thought out stimulus would have been supported by international investors. Instead we are dooming ourselves to devastating amounts of inflation in the future and it only gets worse with every deficit trillion that continues to be spent every month. The promise of inflation is not speculation, it is economics.
Omnibus Bill - A continuation of the irresponsible spending that started with the stimulus. This bill was more about earmarks than keeping the government running. Obama should have stood up for the people of this country and sent it back for revision.
New Regulations and TARP 2 - Like the original TARP, these new regulations are too vague, do not define any limits on the Treasury’s power and lead to instability. Geithner has proposed to hedge systemic risk, by promising bailouts and government take over, instead of creating rules that would minimize systemic risk so as to avoid the need for bailouts altogether. In addition, we are going to waste money on regulation that has never stopped institutions from exploiting the loop holes. We need legislation that will not hedge but minimize systemic risk and end the too big to fail scenario. This will limit the damage of the inevitable loop holes in regulation. All the while, keeping the tax payer dollars away from the danger of constant bailout and keeping the power hungry bureaucrats from nationalizing our banking system.
Obama’s Budget - Simply, this is a continuation of Obama’s denial to deal with the crisis we are in. I understand that a recession is not fun to manage, but most be managed none the less. I understand that Obama would rather work on health care and global warming, but was handed a recession to fix first. However, his denial to act only continues to compound the problems. Obama truly is the exact opposite of Bush in this regard. Where Bush was focused only on the situation at hand, like the war in Iraq, he failed to plan what to do once America gained control of Iraq. Obama on the other hand is so focused on what he wants to do once the recession has ended that he’s failing to make any realistic plan to bring the recession to an end. This of course prolongs the recession, weakens the recovery, and burdens those suffering. Is it any wonder his budget mimics his shortsightedness?
Now the fault of our two Presidents is evident from my remarks, those to blame are continuing to get a pass. I hold the democrat controlled congress most responsible. These are the officials directly elected by the people. Congress has done nothing in the way of creating new ideas, participating in sincere debate regarding the President’s plans, nor offered alternatives. I am tired of seeing the same failed policies being tried time and time again without a second thought from congress.
I apologize for the long post, but someone needs to call a spade a spade. Obama has not been secretive in his grab for power and narrow focus on policy for future years. He’s stated this time and time again. However, anyone can see the folly of counting the chickens before they hatch. Bush gravely mismanaged the war and like such, Obama is gravely mismanaging the economy. We have learned nothing from the last President. As conservatives failed to hold Bush’s feet to the fire, the liberals fail to hold Obama to account. Let’s change the paradigm and hold the President accountable on new TARP legislation and his budget. Let’s force some honest debate and public bipartisan discussion. Just as the President is running out of options with the economy, we are running out of time to force the issues and direct our representatives in a meaningful way.
I’ve been blogging on all of these over the last two months, but wanted to tie it all together with my opposition to the new TARP Proposals and Obama’s budget. I feel it is important to pause for a moment and look at what has been done and what we are doing, before we continue this wanton bleeding of the American economy. I urge you to please consider these failures and ask yourself if we should continue allowing our elected officials to cram the same ideas into law over and over again, without debate and without consideration of alternatives.
So here is a brief history on the policies and failures. See my February post for a discussion on Keynesian Economics. The general rule is that stimulus most change the rate of consumption which also increases investment or change the rate of investment which increases consumption:
Bush’s Stimulus - This was a step in the right direction, but had no staying power. Although the large payments were likely to increase spending, it did not have any long term change in consumption. It was a one time spending spree. Also, the high cost of gas over the summer ate up most of the funds.
TARP - Although it helped to stabilize banks in the short term, it created a large veil of secrecy that has caused instability in the markets to this date. Investors in stocks and companies investing in new capital will not take risks where there is a large degree of uncertainty regarding the risk they are taking. The TARP bill laid out no frame work aside from the dollar amount of the bill and that the Treasury Department was in charge. As a result, you have companies sitting on their funds waiting to see what happens to these banks and investors shuffling their money around trying to guess at what the government is going to do. What do we expect? The bill was rushed into law and set no specifics as far as how the bill was to be carried out. Who was to get what, how much, and what were they supposed to do with the money once they got it? The idea was that institutions were supposed to use the money to back their troubled assets or rid themselves of it. Little of this occurred. Instead, institutions sent the money into their regular operations treating the cash like it was some buried treasure recently found in their basement. In the wake we’ve found miss appropriation to the tune of 40 billion from the Treasury and AIG preferences in paying out billions to foreign companies. Let’s not forget how Geithner dropped the ball with the AIG bonuses. All of this caused the persistence of the credit crunch while a billion dollars sifted through the system like clutching a fist full of sand. The more sand the banks grabbed, the more the sand slipped through their fingers.
Auto Industry Bailout - You can look at my previous post. In taking over the auto industry we have both set a dangerous precedent where government can seize control on a whim, while at the same time causing more uncertainty. The structure of a corporation has always been to allow the shareholders a say in how the company is run. What investor would buy into a company and relinquish their ownership rights to the government. I know many think the rich run companies, but CEOs run the company, they do not own it.
Obama’s Stimulus - I have previously tackled this waste of a bill in my February posts. However, only a month later and we can see how immeasurably useless this bill is. The $400 a month per person, though the general economic theory is an excellent idea, fails in the same way Bush’s stimulus fails and that is that $13 dollars a pay check does not change one’s rate of consumption. Infrastructure spending has become an utter joke as many Republican and Democrat controled legislatures move to use the money to fill in budget gaps. Green energy may create jobs one day, but we’ll be waiting years to see the impact. The reason I’m going back through all of this is because we had an opportunity to get it right. I’ll be the first to admit that Bush did not leave Obama a lot of room to work, but I strongly disagree that this let’s Obama off the hook. A true leader works with what they’ve got. I can only imagine Obama leading the revolution instead of Washington and the endless complaints at each battle lost. How he was hindered by the fact he only had farmers for soldiers where the British were carrier professionals. Obama has missed the important step of American ingenuity, which has almost always been leaders finding solutions to problems using the resources available even if those resources are limited. Obama failed this test of leadership and used his first legislation as President to pass a wish list of “down the road” agendas that will have no impact on the economy in the short run. Since then the world has ceased to finance American debt, leading us to print our way out of the problem. Though I am speculating, I have no doubt that a serious and well thought out stimulus would have been supported by international investors. Instead we are dooming ourselves to devastating amounts of inflation in the future and it only gets worse with every deficit trillion that continues to be spent every month. The promise of inflation is not speculation, it is economics.
Omnibus Bill - A continuation of the irresponsible spending that started with the stimulus. This bill was more about earmarks than keeping the government running. Obama should have stood up for the people of this country and sent it back for revision.
New Regulations and TARP 2 - Like the original TARP, these new regulations are too vague, do not define any limits on the Treasury’s power and lead to instability. Geithner has proposed to hedge systemic risk, by promising bailouts and government take over, instead of creating rules that would minimize systemic risk so as to avoid the need for bailouts altogether. In addition, we are going to waste money on regulation that has never stopped institutions from exploiting the loop holes. We need legislation that will not hedge but minimize systemic risk and end the too big to fail scenario. This will limit the damage of the inevitable loop holes in regulation. All the while, keeping the tax payer dollars away from the danger of constant bailout and keeping the power hungry bureaucrats from nationalizing our banking system.
Obama’s Budget - Simply, this is a continuation of Obama’s denial to deal with the crisis we are in. I understand that a recession is not fun to manage, but most be managed none the less. I understand that Obama would rather work on health care and global warming, but was handed a recession to fix first. However, his denial to act only continues to compound the problems. Obama truly is the exact opposite of Bush in this regard. Where Bush was focused only on the situation at hand, like the war in Iraq, he failed to plan what to do once America gained control of Iraq. Obama on the other hand is so focused on what he wants to do once the recession has ended that he’s failing to make any realistic plan to bring the recession to an end. This of course prolongs the recession, weakens the recovery, and burdens those suffering. Is it any wonder his budget mimics his shortsightedness?
Now the fault of our two Presidents is evident from my remarks, those to blame are continuing to get a pass. I hold the democrat controlled congress most responsible. These are the officials directly elected by the people. Congress has done nothing in the way of creating new ideas, participating in sincere debate regarding the President’s plans, nor offered alternatives. I am tired of seeing the same failed policies being tried time and time again without a second thought from congress.
I apologize for the long post, but someone needs to call a spade a spade. Obama has not been secretive in his grab for power and narrow focus on policy for future years. He’s stated this time and time again. However, anyone can see the folly of counting the chickens before they hatch. Bush gravely mismanaged the war and like such, Obama is gravely mismanaging the economy. We have learned nothing from the last President. As conservatives failed to hold Bush’s feet to the fire, the liberals fail to hold Obama to account. Let’s change the paradigm and hold the President accountable on new TARP legislation and his budget. Let’s force some honest debate and public bipartisan discussion. Just as the President is running out of options with the economy, we are running out of time to force the issues and direct our representatives in a meaningful way.
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