At today’s press conference, President-elect Barack Obama announced his team and confirmed his essential approach: a big, big stimulus package is coming. The description of an “economic crisis of historic proportions” sets the predicate for what is certain to be a huge government effort to “jolt” the economy.
We learned several noteworthy things. First, the emphasis on Tim Geithner’s international experience and vision confirms this is not a protectionist, inward-looking team. Second, Obama is clearly struggling to lower expectations, warning that things “are likely to get worse before they get better.” Third, in the question section, he gave a perfectly awful, rambling answer on taxes (during which the market dropped 40 points). He seemed reluctant to give up the notion of a tax increase, but allowed that he would rely on his advisors as to whether he would simply wait for the Bush tax cuts to expire. Fourth, he politely declined to criticize Hank Paulson, but did promsie that his administration would offer more clarity so that taxpayers and businesses understood their efforts to revive the economy. Fifth, he plainly wants to do an auto bailout, but was “surprised”–as he delicately put it–that the auto companies didn’t come with a plan to explain how the money would be spent. And finally, he clearly wants to have a final stimulus plan ready to sign in January.
My overall impression: He is emphasizing bipartisanship. Which makes sense. He will need all the support he can get for what will plainly be the most extensive government intervention into the economy in a generation.
I’d like to hear more about the earmarks he said aren’t going to be in the budget, unless he’s been giving a blind briefing…Congress will make sure earmarks they are in the budget no matter what!
David Brooks said on PBS that “as an explanation, as telling people what is he going to do the speech was outstanding”
Uh?? Come again? Has someone performed a lobotomy on Brooks??
I wouldn’t have said bravery, rather self-delusion or maybe breathtaking cynicism as if words are only words after all.
Remember the last time a president said, “Your taxes are not going up. Not one dime?” Well, he said, “Read my lips, no new taxes…”, but you guys know the end of that tale.
My father in law feels the same way you do Noah. I still think, it doesn’t matter if his policies work or not, we’re not going to hear the whole story from the MSM. Just as we didn’t during the campaign. President Obama will be working with a cushion. And problems will be laid at the foot of George W. Bush.
“If the economy doesn’t get better — or if his administration does not rise to foreign challenges — he will face a difficult re-election campaign.”
»Back to Contentions
You pundits are in your own little vacuum world of “it’s all about the power.” Maybe his first priority isn’t getting reelected in four years. Maybe his first priority is the welfare of this nation. Maybe, just maybe, this guy really does see himself as a public servant. Wouldn’t that be breath of fresh air?
Rod,
Brooks is actually a somewhat rational figure on the right. He at least puts together coherent arguments when he disagrees, and he admits when the other side is right.
Bill,
are you projecting, or just plain stupid?