Commentary Magazine


Topic: Neil Barofsky

Flotsam and Jetsam

Not content to lose just Massachusetts, key Democrats want to keep at ObamaCare negotiations: “There is a still sizable contingent of Democrats who continue to believe failure is not an option, even though their voices have been softer since the Senate loss in Massachusetts. Obama, Pelosi and Reid, by all accounts, still agree with this thinking and remain sincerely committed to pushing ahead. Most Democrats have already voted for the bill, making them more invested in finishing the job than their counterparts were in 1994.”

No, honest: “President Obama’s campaign to overhaul the nation’s healthcare system is officially on the back burner as Democrats turn to the task of stimulating job growth, but behind the scenes party leaders have nearly settled on a strategy to salvage the massive legislation. They are meeting almost daily to plot legislative moves while gently persuading skittish rank-and-file lawmakers to back a sweeping bill.” They would be skittish, of course, because  two-thirds of the country hates the legislation.

But you can understand that Democrats want to run on something other than failure: “The $700 billion bailout program for the financial industry has so far done little to boost bank lending, aid small businesses or reduce home foreclosures, a top government watchdog said in a report. Neil Barofsky, the special inspector general over the Troubled Asset Relief Program (TARP), said in a report that while the bailout has helped stabilize the financial system, many of the program’s original goals have not been met.”

And they probably don’t want to run on their fiscal management because: “the White House expects the annual gap between spending and revenue to approach a record $1.6 trillion this year as the government continues to dig out from the worst recession in more than a generation, according to congressional sources. The red ink would recede to $1.3 trillion in 2011, but remain persistently high for years to come under Obama’s policies.” Yes, the spending “freeze” is really just for show.

And their good-government pledges are nothing to brag about: “The recent awarding of a lucrative federal contract to a company owned by a financial contributor to the Obama presidential campaign — without competitive bidding — ‘violated’ President Obama’s many campaign pledges to crack down on the practice, a top State Department official told Fox News.”

Seems the voters don’t think Obama gets a B+: “Just 19% of voters nationwide believe that President Obama achieved most of his goals during his first year in office. A new Rasmussen Reports national telephone survey finds that 70% hold the opposite view and say he did not accomplish those goals.”

Former CIA director Michael Hayden has convinced Diane Ravitch of Brookings: “I realized that Eric Holder has misplaced priorities. He Mirandizes suspected terrorists (alleged terrorists, that is), and vigorously pursues CIA agents. Holder should go.”

Conservatives should give the president some credit: “It took a year, but one bright spot in President Obama’s State of the Union was that he bothered to say nice things about trade. ‘We have to seek new markets aggressively, just as our competitors are,’ he said. ‘If America sits on the sidelines while other nations sign trade deals, we will lose the chance to create jobs on our shores.'” Now let’s see if Obama’s party will move trade deals through Congress.

Not content to lose just Massachusetts, key Democrats want to keep at ObamaCare negotiations: “There is a still sizable contingent of Democrats who continue to believe failure is not an option, even though their voices have been softer since the Senate loss in Massachusetts. Obama, Pelosi and Reid, by all accounts, still agree with this thinking and remain sincerely committed to pushing ahead. Most Democrats have already voted for the bill, making them more invested in finishing the job than their counterparts were in 1994.”

No, honest: “President Obama’s campaign to overhaul the nation’s healthcare system is officially on the back burner as Democrats turn to the task of stimulating job growth, but behind the scenes party leaders have nearly settled on a strategy to salvage the massive legislation. They are meeting almost daily to plot legislative moves while gently persuading skittish rank-and-file lawmakers to back a sweeping bill.” They would be skittish, of course, because  two-thirds of the country hates the legislation.

But you can understand that Democrats want to run on something other than failure: “The $700 billion bailout program for the financial industry has so far done little to boost bank lending, aid small businesses or reduce home foreclosures, a top government watchdog said in a report. Neil Barofsky, the special inspector general over the Troubled Asset Relief Program (TARP), said in a report that while the bailout has helped stabilize the financial system, many of the program’s original goals have not been met.”

And they probably don’t want to run on their fiscal management because: “the White House expects the annual gap between spending and revenue to approach a record $1.6 trillion this year as the government continues to dig out from the worst recession in more than a generation, according to congressional sources. The red ink would recede to $1.3 trillion in 2011, but remain persistently high for years to come under Obama’s policies.” Yes, the spending “freeze” is really just for show.

And their good-government pledges are nothing to brag about: “The recent awarding of a lucrative federal contract to a company owned by a financial contributor to the Obama presidential campaign — without competitive bidding — ‘violated’ President Obama’s many campaign pledges to crack down on the practice, a top State Department official told Fox News.”

Seems the voters don’t think Obama gets a B+: “Just 19% of voters nationwide believe that President Obama achieved most of his goals during his first year in office. A new Rasmussen Reports national telephone survey finds that 70% hold the opposite view and say he did not accomplish those goals.”

Former CIA director Michael Hayden has convinced Diane Ravitch of Brookings: “I realized that Eric Holder has misplaced priorities. He Mirandizes suspected terrorists (alleged terrorists, that is), and vigorously pursues CIA agents. Holder should go.”

Conservatives should give the president some credit: “It took a year, but one bright spot in President Obama’s State of the Union was that he bothered to say nice things about trade. ‘We have to seek new markets aggressively, just as our competitors are,’ he said. ‘If America sits on the sidelines while other nations sign trade deals, we will lose the chance to create jobs on our shores.'” Now let’s see if Obama’s party will move trade deals through Congress.

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