Obama's Economic Speech: The Bully Pulpit
Barack Obama just finished his big speech on the economy, laying out what he saw as the urgency of passing his stimulus package. It was very much a bully-pulpit sort of affair, laying out general ideas and asking for Americans to come together to support it -- that is, putting pressure on Congress -- rather than laying out hard policy points.
The key point was this section, discussing how the plan will cost a lot of money -- but without specifying any amount -- and saying that large-scale government intervention has become necessary: "It will certainly add to the budget deficit in the short-term. But equally certain are the consequences of doing too little or nothing at all, for that will lead to an even greater deficit of jobs, incomes, and confidence in our economy."
Obama put the blame for the current crisis on "profound irresponsibility that stretched from corporate boardrooms to the halls of power in Washington, DC," citing the lack of a proper regulatory structure that allowed easy credit to circulate with no attention to what would happen when all those loans came due. Obama's message, in short: I'm inheriting this mess, and now we have to fix it.
As for his own plan, Obama reiterated much of what we've heard before: modernizing government buildings, more computers for schools, and the revamping of the country's energy grid, etc. There was no mention of the large business tax cuts that had been reported in the last few days -- probably not the best thing to get on a soapbox about while also lambasting corporate irresponsibility -- with a $1,000 middle-class tax cut for families being the only tax break mentioned.
So again, this was not so much a policy speech as much as it was a political speech, focused on convincing people that his big plan -- whatever it might look like by the time we're done -- has to be passed.
I liked how he stated that the American people should hold government accountable for everything it does.
I interpreted that to mean "If Congress starts dragging its feet on this, you contact your Congress critters, ok?"
January 8, 2009 12:12 PM | Reply | Permalink
That's how I interpreted it as well. It's a smart move, given the general fecklessness of the Dems in Congress.
January 8, 2009 12:15 PM | Reply | Permalink
They're afraid of their own shadows.
January 8, 2009 12:18 PM | Reply | Permalink
Did you hear that Congress? This is not about what's good for you, but what's good for the country. Don't even go there with your pet projects and partisan bullshit - that goes for all of you - Dems, Repubs, Liberals, Conservatives, etc. We are going with what works!
January 8, 2009 12:18 PM | Reply | Permalink
They sure can't blame Obama if the economy sinks further --- he started pushing for stimulus weeks before even being sworn in.
January 8, 2009 12:33 PM | Reply | Permalink
I know our local Alexandria group from the campaign is grouping up shortly to see how we can get involved. I'm assuming frequent dialog with our Congressmen to help get agendas passed would be one approach we'll discuss.
OT but are people here planning to be around DC for the Inauguration? Which balls are people planning to attend etc? Any idea on if the Netroots Nation Ball in Clarendon Ballroom in Arlington the night before will be a hoot? Anyone want to go streaking down the mall the day of the Inauguration and see if we can make the news?
January 8, 2009 12:34 PM | Reply | Permalink
Streaking down the mall may be tough given the million or so other folks in the way.
But if you were thinking of naked crowd surfing.....
January 8, 2009 12:43 PM | Reply | Permalink
And not to worry. It'll be cold. We'll be wearing gloves.
January 8, 2009 12:44 PM | Reply | Permalink
Naked crowd surfing in the cold? I'd beware of shrinkage. Could be embarrassing.
-- ARG
January 8, 2009 3:28 PM | Reply | Permalink
Seems to me that in most of the discussion and reporting around here, the commentators have pretty much missed the forest for the trees, overly fixated as they seem to me to be over policy specifics
Let me try to explain. None will doubt that the policy window is wide open right now (Klassic Kingdon http://eric.ed.gov/ERICWebPortal/custom/portlets/recordDetails/detailmini.jsp?_nfpb=true&_&ERICExtSearch_SearchValue_0=EJ744379&ERICExtSearch_SearchType_0=no&accno=EJ744379)
There are any number of specific policy options that are floating about in the "policy stream". The same ideas have been around for year, the policy menu is rich and the proposals ripe
It seems to me that the real question, the proper focus isn't policy it is politics - ie how to keep the window open for as long as possible for surely it will close
And this is where I think most have missed the boat, and the genius of Obama's approach for surely he appreciates that what is passed isn't nearly as important as having something passed that marshalls the broadest support possible among the various stakeholders and keeps that window open as long as possible
I hope that is clear..not sure it is
January 8, 2009 12:35 PM | Reply | Permalink
Especially if Obama intends to follow the Economic Recovery Act with Health Care reform
http://www.politico.com/news/stories/0109/17206.html
January 8, 2009 1:13 PM | Reply | Permalink
So, let's see here. The U.S. Government is now visibly on the road to a default and the plan is to include a significant regressive tax cut (handout) to corporations who may not spend it or will distribute it to the striking capitalist fat cats, who also won't spend it. Which takes away from real stimulus given to those would spend our increasingly precarious national wealth. Where have I seen this mentality before? Oh yeah, almost every minute of every hour since January 20, 1981. Let's just say I am concerned, although I understand that strategic tax cuts can be a way to get some economic action. But taxes will eventually have to be increased again. If Obama goes wobbly at that point, then we are going to have a problem. I'll wait and see, but would not be surprised by a sellout.
January 8, 2009 1:30 PM | Reply | Permalink
Sooner or later we're going to have to face the fact that economically, Obama is a Republican.
#1 He's already signed onto the discredited Republican theory that tax cuts are what stimulate the economy - half of the Obama package is more of the same tax cut gospel that got us into this mess in the first place.
#2 He's now talking about cutting social security and medicare to make up for the deficit created by more tax cuts. This is the exact same thing that Reagan did: transferring wealth from the poorest and most vulnerable to the more affluent.
Obama's stimulus plan is destined to fail because it is based upon the same supply-side garbage that got us into this mess in the first place.
January 8, 2009 1:54 PM | Reply | Permalink
Interesting, you posted the exact same drivel on another thread.
Try original thought, then get back to us.
January 8, 2009 2:58 PM | Reply | Permalink
When you have a better rebuttal than that, I will get back to you.
January 8, 2009 3:48 PM | Reply | Permalink
Here's an excellent mythbusting of Republican attacks/disinformation about the economic recovery plan, and the economy in general:
http://www.ourfuture.org/blog-entry/2009010208/firing-back-mythbusting-obama-recovery-package
January 8, 2009 2:39 PM | Reply | Permalink
I think a decent bill with out tax cuts to corporations should be attempted first. If that won't pass then the bill can be modified. I think such a strategy is a win for Obama as first of all in all likelihood a decent bill would be passed and second of all if tax breaks to corporations are needed to get the bill passed the tax breaks to corporations are then clearly on the head of the Republicans. I am sure there are Republicans among the rank and file who have legitimate beefs but the Republican leadership doesn't and shoudn't be placated. Speed is of the essence but a bill could be put forward quickly and voted on and then Plan B could rapidly be implemented if necessary.
January 8, 2009 3:25 PM | Reply | Permalink