“No Real Recovery”
Obama Isn't Keeping Up His Bi-Partisan Pledge
Obama ran his presidential campaign with a pledge of bringing bi-partisanship back to Capitol Hill. Unfortunately when it has come to his stimulus package, President Obama seems to have entirely ditched his party-bridging policy. Earlier this week the President headed out on a campaign stump to drum up support for this stimulus bill. By doing this, he went right over the heads of the law makers who are appointed to represent their districts. There is a reason we keep Legislative and Executive branches separate in this country - it's so if one branch is making poor decisions, the other one can keep it in check.
Obama's stimulus bill has received terrible support from both House and Senate Republicans. In the House not a single Republican voted for the $800+ billion package and only 3 Senate Republicans broke rank to vote for their version of the bill. Now the bill has come down to a $789 billion compromise bill that will go to the President for signing.
If this stimulus package is any indication of how Obama will handle Republicans who don't bow to his will, I think we're going to be in for a very rough 4 years. Let's hope Obama can keep some of his campaign promises in the future.
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“No Real Recovery” |
“No Real Recovery” |
I hate to say this, but I
I hate to say this, but I think Obama's IDEA was good... the execution so far has been pitiful. This $789 billion stimulus package will not have the effect they think it will (did you notice how he changed his language from "this will create 3-4 millions jobs" to "this will save or create 3-4 million jobs").
When it comes to Detroit, they're just throwing good money after bad. Heck, they aren't even doing that. They're throwing BORROWED money after bad! I'm glad Bush didn't give GM and Chrysler all of the money they originally asked for. Now they're back asking for an even BIGGER hand out. I'm tired of hearing about how if they go bankrupt it will have an even bigger impact on the economy. It's a big sh** sandwich and we all need to take a bite. Detroit's problem lies with branding. As American's looker for smaller, more affordable, fuel efficient vehicles, a Ford, GM or Chrysler doesn't pop into their head. Instead, they think Honda, Nissan, Toyota. Now these companies aren't immune to the downturn either, but Honda is weathering this recession much better than either other car company. Why? Because they have an excellent reputation and image for building efficient, reliable vehicles. It's that simple. Let Detroit fail. I'm not interested in throwing away my childrens' tax dollars on a failed business plan.
What is really interesting
What is really interesting about this stimulus package is how the Republicans are distancing themselves from it. As a collective, they are essentially standing up to Obama and saying "no." While pundits are filling the airwaves as to the possible negative consequences this may have, I pose a slightly different view point. I liken it to investment terms and strategies.
To me it seems like the Republicans are short-selling the Administration. They've bought some long puts and now are going to wait out this bill and see what happens. If the economy rebounds, the Democrats will get all of the credit, and the Republican party will really suffer. But if the stimulus package doesn't have the intended effects, the Republicans will be able to say "I told you so."
To put it another way, Republicans are betting against the house. While they don't want to see the economy struggle any further, they don't believe pork belly spending is the answer. I don't either. I would love it if everything Obama promises will come true and the package will work and GM and Chrysler cars will rain from the heavens. Jobs will become plentiful and everyone will be able to afford a home and keep it. Unfortunately, I don't see that happening.
When things fail to go Obama's way, I think we'll see patience wearing thin very quickly for the American people. Clinton said the other day that Obama has about a year before his popularity will run out of steam unless he is able to deliver. The problem is that these problems can't be solved in just a year. There isn't a panacea for our current economic turmoil.
I suppose the theory behind the Republican stance is simply that they'll be there to provide a shoulder to cry on when things remain sour.
That's a pretty good point
That's a pretty good point AmericatheBrave - thanks for sharing. While it's unfortunate that we ended up with Obama, now that we're stuck, may as well cross your fingers and hope for the best. If this stimulus package does end up failing, at least the GOP will come out with clean hands and ready to lead again!