Wednesday, January 27, 2010

Obama's Credibility Gap

Bob Herbert's column on this subject is excellent in capturing what's wrong with Obama's presidency. Read it here.

Readers' comments following the article show how much Obama has alienated his base. Readers of the NY Times are overwhelmingly Democrats.

In the following link you see how much Obama has even alienated the high profile public intellectuals who have been supporting him before he became president. Read that here and follow the links in it to get the full picture of those writings.

Miracles do happen in politics in that unpredictable events occur, such as the political earthquake in Massachusetts no one foresaw until just a few days before it happened.

Obama needs a miracle to save his presidency. His latest spending freeze proposal is an act of panic as many in the States correctly see. And dismissed as a PR exercise.

He is trying to do a "Clintonesque" triangulation by moving towards the Republic positions: spend less, cut taxes, etc. Well, we know how that ended with the Bush Administration: ballooning deficits among others.

Obama has failed utterly to lead. He failed to convince the nation why he had to increase spending to save the country. Instead he let Geithner/Summers go to the talk shows without appreciating the fact that these two have long become "hate figures" to the nation.

He failed utterly to allocate Federal bailout money fairly by focusing on saving banks "too big to fail" allowing a few Wall Street firms which the government had saved from collapse handing out on a silver platter to the smart traders at Goldman and JPMorganChase to make huge trading profits using risk free and zero cost taxpayers money.

He should have long ago asked for resignations of Wall Street tycoons BEFORE his government was handing out blank checks. He should have told them they were not victims of the bubble bursting but had been accessories to creating that firestorm. Instead, he bought the Wall Street's ridiculous argument that without them as copilots the economy would die.

He should have temporarily taken over those firms as he had done so with AIG, Freddy and Fanny with a team of good administrators to clean house. Instead he recruited the same tiresome insiders to run those firms.

Any wonder why voters in Massachusetts sent him a message telling him he was doing a lousy job by electing, for heavens sake, an unknown who has racist inclinations?

Yet Obama is still saying Geithner/Summers/Bernanke are doing a fine job.

Barring a miracle, Obama's presidency is fast becoming a lame duck and will be voted out before you know it.

Sad. So much for "change you can believe in".

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