- Home
- News Grid
- Local News
- Green Hawk
- Business
- Politics
- School Zone
- Nonprofits
- Missing Pets
- Multimedia
- Arts
- Movies
- Outdoors
- Sports
- News Releases
- Columnists
- Blogs
- Opinions
- Classifieds
- Advertise
- Donate
- Partners
The Daily Capitalist: It’s Still Not My Fault, and I Feel Your Pain
I will say that President Barack Obama is pretty good at this speech stuff. Remember last year when professor Obama said the adults are now in charge and we’re going to clean up the mess the kids made? This year had a much different tone. At times he almost sounded humble. Thank you, Massachusetts.
This time, he hit right to the heart of what his pollsters and advisers were saying: “It’s the economy, stupid.” He didn’t even get to health care until he was about half way through his speech. But he says he understands what we’re going through and the government is going to save us. Again. He said “we” (I guess that means his administration) prevented another depression. Thanks a lot. I think.
He launched right into the banks and said we’re not going to put up with that s*** anymore. Not really, but it sure felt like he was mad at them.
All the rest were the usual ornaments that politicians love to decorate the legislative Christmas tree with. This program for small businesses, a tax credit for that, green jobs, “China’s not waiting to revamp its economy … Well I do not accept second-place for the United States of America,” free college stuff, a jobs bill, energy independence, more stimulus, yadda, yadda, yadda.
Actually he did say something good about nuclear power and offshore drilling. “Tough choices,” he said. Fair enough.
Much of what he said was the usual thing that presidents say:
“I have never been more hopeful about America’s future than I am tonight. Despite our hardships, our union is strong. We do not give up. We do not quit. We do not allow fear or division to break our spirit. In this new decade, it’s time the American people get a government that matches their decency; that embodies their strength.”
He called it Bush’s recession over and over and over. I’ll give him that. But both parties were equally culpable. It just happened to crash on Bush’s watch. But it gets old when he has to keep reminding us that it wasn’t his fault. He has no clue.
So here we are in Year 2 of Obama and we need another jobs bill because the first one didn’t work. Please! These guys never examine their premises.
The almost funny part when he said, dead serious, “[E]ven as health-care reform would reduce our deficit, it’s not enough to dig us out of a massive fiscal hole in which we find ourselves.” This is why we’re in trouble. He and the Democrats actually believe this.
He noted that we are headed for massive deficits:
“So let me start the discussion of government spending by setting the record straight. At the beginning of the last decade, America had a budget surplus of over $200 billion. By the time I took office, we had a one-year deficit of over $1 trillion and projected deficits of $8 trillion over the next decade. Most of this was the result of not paying for two wars, two tax cuts and an expensive prescription drug program. On top of that, the effects of the recession put a $3 trillion hole in our budget. That was before I walked in the door.”
His solution to runaway spending and the financial collapse of Medicare and Social Security? A bipartisan commission. This is not good. Until they understand that they are the problem the result will be massive tax increases because politicians can’t cut spending. Besides, it’s not his fault.
He did get to the point that he will pull out of Iraq by August. I have my doubts that it will happen, but it’s fine with me: Let’s go home. Most foreign policy issues were an afterthought.
The ending of the speech was pretty good. It was meaningless, but he says meaningless things so well. You will recall that several minutes went by and no one clapped or hooted as he basked in the glow of America’s greatness and how we’re not afraid of hard work. Reminds of me Bush (“It’s tough. It’s hard work”).
And then there was the usual ending all presidents leave us with: hope.
“We have finished a difficult year. We have come through a difficult decade. But a new year has come. A new decade stretches before us. We don’t quit. I don’t quit. Let’s seize this moment — to start anew, to carry the dream forward and to strengthen our union once more.”
Wow.
What I really dislike about him is how he always frames the argument in terms of what he even referred to in his speech as “false choices.” He keeps setting up the opposition as straw men and then knocks them down. How can that be bipartisan? He took a dig at the Republicans saying that he’s waiting for some good ideas about health care from them. That should tell you something about his agenda.
It’s Obama who isn’t listening.
— Jeff Harding is a principal of Montecito Realty Investors LLC. A student of economics, he has a strong affinity for free-market economics. This commentary originally appeared on his blog, The Daily Capitalist.
» wrote on 01.28.10 @ 09:25 AM
Even Obama doesn’t have the power to overcome the vicious environmentalists and populist politicians of Santa Barbara and drill offshore. This is a fight I can’t wait to watch! Where’s my Orville Redenbachers? Oh wait, I forgot, Obama is just all good speech and broken promises.
» wrote on 01.28.10 @ 10:08 AM
If you are in the middle class, or wish to be, in order to survive in this economy you are apparently going to have to retrain yourself for a “green job” whatever that means, because that is the only type of valid job approved by Obama. That means, if you have any kind of specialized career, like say, rocket scientist or software programmer, and you need a break from the government, you have to ditch your entire career and start over because Obama wants to take all of your money to feed the green machine.
The entire country of the future will be employed by an imaginary green industry. “We should put more Americans to work building clean energy facilities” while promoting “clean nuclear energy plants”? When did nuclear energy become “clean”? “opening new offshore areas for oil and gas development.” When did oil and gas become “clean”? “It means continued investment in advanced biofuels and clean coal technologies” When did coal become “clean” and when did raping the rainforests for biofuel and starving people by losing food crop land for energy become “clean” and green? This guy will say anything and expect people to believe it!
“we will step up refinancing so that homeowners can move into more affordable mortgages” When did the government get into the business of refinancing homes@#!?
Did anyone else notice that Obama kind of tried to dangle a carrot in front of every single group of society ? Same old (obvious) appeasement and pandering - Students, gays, small businesses, women, illegal immigrants, amnesty advocates, border enforcement advocates, Muslims,[“We’re working with Muslim communities around the world to promote science and education and innovation” WHAT WAS THAT??? Why Muslims?], teachers and education, oil industry, nuclear industry, nuclear free advocates, seniors, anti-war activists, war advocates, Bush haters, corporation and bank haters, health insurance company haters, wealth envy-ers, conservatives, liberals, progressives, Republicans, democrats, taxers and spenders, fiscal conservators, socialists, capitalists, homeowners, wanna be homeowners, parents, kids, civil rights advocates, hate crime advocates…
Just hang with me boys and girls, I have presents for everybody! Did Obama-Claus leave anyone out? Does everyone feel “included”? This guy is an insane populist megalomaniac narcissist, more supreme than the Supreme court, more supreme than the people, more supreme than Congress.
» wrote on 01.28.10 @ 10:28 AM
The magic words.
One year and still hoping for CHANGE:
“For these Americans and so many others, CHANGE has not come fast enough.”
“I campaigned on the promise of CHANGE –- CHANGE we can believe in, the slogan went. And right now, I know there are many Americans who aren’t sure if they still believe we can change –- or that I can deliver it.”
“You’ve trimmed some of this spending, you’ve embraced some meaningful CHANGE.”
“Now, the House has already passed financial reform with many of these CHANGEs.”
“I know that there are those who disagree with the overwhelming scientific evidence on climate CHANGE.”
“We have gone from a bystander to a leader in the fight against climate CHANGE.”
“I know there have been questions about whether we can afford such CHANGEs in a tough economy.”
“So, no, I will not give up on trying to CHANGE the tone of our politics.”
“But remember this –- I never suggested that CHANGE would be easy, or that I could do it alone.”
“And when you try to do big things and make big CHANGEs, it stirs passions and controversy.”
[excuses excuses]
But there is still HOPE:
And what the American people HOPE -– what they deserve -– is for all of us, Democrats and Republicans, to work through our differences; to overcome the numbing weight of our politics.
“One woman wrote to me and said, “We are strained but HOPEful, struggling but encouraged.”
“It’s because of this spirit -– this great decency and great strength -– that I have never been more HOPEful about America’s future than I am tonight.”
“Let’s leave behind the fear and division, and do what it takes to defend our nation and forge a more HOPEful future—for America and for the world.”
Oh by the way - it isn’t that you don’t like the healthcare bill because you know it is a bad deal all around for everyone, the reason you don’t like it is because condescending Obama didn’t EXPLAIN IT good enough!
Good Lord I HOPE this will CHANGE soon. I am hoping for President change.
» wrote on 01.28.10 @ 03:14 PM
The Daily Capitalist: More of the same BS blame-game. You are just as much a part of the problem if you spend your time pointing fingers and regurgitating party lines.
» wrote on 01.28.10 @ 03:53 PM
It seems like conservatives talk about personal responsibility…but refuse to take any when many of the problems of today are due to their actions.
Bush practiced this during Katrina. Whenever called upon to take responsibility, he called it “the blame game.”
Similarly, you don’t see conservatives taking responsibility for policies that they backed and got us in today’s mess: tax cuts for the rich, a war in Iraq, deregulation, no energy conservation policies, flat wages for the middle class, borrowing from the future.
Most of Harding’s column and commenters rail at Obama for calling it like it is. Most of the problems of today are inherited from 8 years of failed conservative policies. Where do Harding and his supporters take ANY responsibility - yes, accept the blame?
By the way, it is a matter of record that Reagan spent the first 3 years of his presidency blaming his problems on Carter and no one called it the blame game then.
Let’s learn from the past and not repeat the same policies that got us in the mess. Obama is NOT perfect, but at least he is offering us a change in course from the one that conservatives used to drag us into this mire.
» wrote on 01.28.10 @ 04:00 PM
Looking back to 2008, I wish I had supported Hillary instead of Obama. We were all caught up in the hype of Hope and Change. Looking back we should have supported the tried and true Democrat.
» wrote on 01.28.10 @ 05:27 PM
It seems like conservatives talk about personal responsibility…but refuse to take any when many of the problems of today are due to their actions.
Bush practiced this during Katrina. Whenever called upon to take responsibility, he called it “the blame game.”
Similarly, you don’t see conservatives taking responsibility for policies that they backed and got us in today’s mess: tax cuts for the rich, a war in Iraq, deregulation, no energy conservation policies, flat wages for the middle class, borrowing from the future.
Most of Harding’s column and commenters rail at Obama for calling it like it is. Most of the problems of today are inherited from 8 years of failed conservative policies. Where do Harding and his supporters take ANY responsibility - yes, accept the blame?
By the way, it is a matter of record that Reagan spent the first 3 years of his presidency blaming his problems on Carter and no one called it the blame game then.
Let’s learn from the past and not repeat the same policies that got us in the mess. Obama is NOT perfect, but at least he is offering us a change in course from the one that conservatives used to drag us into this mire.
» wrote on 01.28.10 @ 05:30 PM
Once again , a challenge to Realist, An50 , Petry and all other party of no-ers and status quo-ers . Name one piece of legislation originating from the GOP/ right wing that specifically benefits middle and lower class Americans .
» wrote on 01.28.10 @ 09:36 PM
The Republicans put forth many good ideas on Healthcare Reform that were equashed on the House or Senate floors, or under-reported (aka NEVER reported) by the MSM.
That right there is the heart of the problem. Partisan, liberal-loving government controlled media is depriving the American people of true democracy.
HEY - I know Bush had his faults. But HEY this Obamanation of an administration is making Bush seem like a brain surgeon. I wish you people HAD voted for Hillary. Obama is dangerously inept. And our economy is the virtual proof.
The Dems had control of Congress for Bush’s last two years. So before you go all “it’s Bush’s fault” on me again, please tell me how they are NOT INVOLVED in the financial meltdown. Frank, Raines, Dodge, Schumer, Pelosi, Geitner, Paulson (god help us) PLEASE TELL ME how they are not to blame too!?!
» wrote on 01.28.10 @ 10:24 PM
This liberal is a union puppet?? The hell with you and I?
» wrote on 01.29.10 @ 06:57 AM
Notice how the conservatives commenting here have still not answered the question regarding any positive legislation for lower to middle class people coming from the Republications. The explanation by SBNative is to blame it on the liberal media. The most popular media station is Fox News, clearly a right wing media outlet.What about the Wall Street Journal or the Financial Times or The Noozhawk? They have never mentioned anything because there is nothing. It is easy to be the party of NO. The GOP would rather have the country fail now in hopes that it will improve their chances to win the next election.
» wrote on 01.29.10 @ 08:29 AM
Naturally, Jeff Harding never tells us how much of the taxpayer’s $23.7 trillion that bailed out AIG, all the big banks, etc, ended up lining his pocket. Why not Jeff? That you are a socialist who benefits from people who actually do hard work paying taxes to pay for your expensive Montecity life is not something you care to discuss?
Why not publish every single financial transaction of yours for the past 20 years so we can judge how much all of the bond insurance etc of AIG and the big banks helped you?
» wrote on 01.29.10 @ 08:58 AM
Positive legislation? What does it matter? Democrats have been in control since the last two years of the Bush administration (coincidentally, right when things began to crash because Barny Frank and Chris Dodd required that banks make mortgage loans to people who were not able to pay them back).
If the Democrats wanted to actually listen to the ideas put forth by Republicans, instead of going full steam ahead with their own legislation, they would be implementing small steps like tort reform and allowing insurance companies complete across state lines. What else do you want to know, local and “info” other than it’s all Bushes fault? What is the statute of limitations on THAT excuse I wonder?
» wrote on 01.29.10 @ 09:39 AM
“tax cuts for the rich, a war in Iraq, deregulation, no energy conservation policies, flat wages for the middle class, borrowing from the future.”
So Obama does all the same, but multiplies it by three and you call it a change in course info?
What is “flat wages for the middle class by the way”, was there a wage freeze I was unaware of?
» wrote on 01.29.10 @ 09:59 AM
I think I’m as tired of the term “Green Job” as I am the “Shovel-Ready” job. The term diminishes the advancements of industry of past generations. Nobody is going to have to retool for a green job: the jobs become green when the conditions create it. If fuel remains too expensive, then the desire to extract and retain energy more efficiently shall remain; it’s that simple. The federal government should stop pushing such intangible notions, and stick to simple, perceptible solutions. If they can’t come up with a SUSTAINABLE/practical solution, then they should give us our money (and our future) back. If anything, start by giving it back to the State of California.
» wrote on 01.29.10 @ 11:08 AM
The President’s State of the Union continues to deny 9-11. He and his fellow Dems are 9-10 politicians especially when it comes to the economy. Doesn’t anyone remember what happened to the stock market post 9-11: the big board sank to 7K, only gradually coming back? Today the stock market is about the level that Bush II inherited and we are coming out of our worst recession on record. No one on the Left wants to remember that Bush and his administration guided us back economically from the precipice of the 9-11 event.
The so-called failed policies of the Bush Cheney years are looking more like the excuse for the failures of Obama Biden policies.
» wrote on 01.29.10 @ 01:57 PM
To GWWally…the main thing Republicans do is to avoid having business owners (and the “wealthy”)pay even more than the roughly 60% of our income that already goes to Federal, State, Local, Sales, Excise, Fees, etc. taxes. Who do you think hires the middle and lower classes….the homeless people? NO. It’s those of us working 80 hour weeks who worry about payroll and helping staff feed their families. Do you think there will be anyone other than the poor if you pull the incentive from those of us willing to take risk, occasionally fail and work our fingers to the bone? When taxes are cut, guess what…. we give my employees a raise and hire more of them as do the majority of business owners in this country. You must be on “funemployment”...another reason not to go find a job or better yet, take the intiative to start your own company and find out what it’s like to have the govt. steal most of your earnings as if they, instead, earned it.
Instead of complaining about Republicans, go employ someone…that will help them out of poverty.
» wrote on 01.29.10 @ 01:58 PM
Our economic mess can be traced back to the Johnson administration. The idea that government is a big pot-o-money that libs can disperse and conservatives can go to war with is false. The government does not make wealth, we do. The government only collects the wealth of others and uses it. Since Johnson, we have done everything we can to diminish our wealth creating capacity while increasing government’s power to collect and disperse. Any wonder why we are collectively $50 trillion in the hole? Yes both sides engage in blaming and it gets us nowhere. So what to do? First, look at which party has the best ideas for bringing wealth creation out of the pit. Which party offers more obstruction to wealth creation? Which party cares more about how they look and how you feel rather than what is right? What party cares more about being like someone else than exploiting their own ability?
Obama is an empty suit and has been. We warned you before his election. I have nothing against the man personally and find him intelligent, articulate and full of promise. But his narcissism and naïveté are becoming legendary and point out the fatal strategic error the DNC made pushing him out there too early in his career. Forget your idiotic hatred of Bush and realize Obama is making a mess out of everything on his own. If he can drop this nutty belief that the presidency is anything more than a figure head he might realize that congress runs the country and it’s his own damned party responsible for his lack of progress. You local liberals need to pull yer head out of yer behind and smell fresh air for a change. Change is coming because our center right country has had quite enough of this wanna be European socialist worshipping and idol worship of Obama. You picked the wrong guy and you fence sitters went along with it. Ok, recognize the mistake, swallow your wounded narcissistic pride and let’s get back to work cleaning out congress. Want to eliminate the debt? Better get back to work extracting, manufacturing and growing your own stuff, it’s really that simple. But you can’t do that and have your safety nazi, environmental whacko and business profit hating cake and eat it too.
» wrote on 01.29.10 @ 03:38 PM
I’ll tell you Joe what I told the libs on Jeff’s thread.
Our economic mess can be traced back to the Johnson administration. The idea that government is a big pot-o-money that libs can disperse and conservatives can go to war with is false. The government does not make wealth, we do. The government only collects the wealth of others and uses it. Since Johnson, we have done everything we can to diminish our wealth creating capacity while increasing government’s power to collect and disperse. Any wonder why we are collectively $50 trillion in the hole?
What this means is deficit spending is actually borrowing. So who are we borrowing from Joe? China, Japan, Saudi Arabia? We owe these people because we consume more than we produce. Our economy is not hobbled by lack of spending like you head in the sand idiots believe. It is hobbled because we do not make the wealth to cover our expenses. Too many so called “experts” have engaged in a 60 year run at obfuscating the financial world so that no one can see the truth. Now that the real-estate bubble has collapsed we are seeing that truth now for the first time.
We will have to pay the piper, period. But do not fret my fellow Americans. We can not only pay off the entire debt, public and private but also produce surplus wealth to pay for all the nanny state goodies you loony socialist loving liberals want. There is only one thing that needs to happen, get government off the private sectors back. No more safety Nazis, environmental whackos or profit hating zealots. No it does not mean living in danger, fouling our living room or allowing unmitigated greed. But it does mean a return to our old values of hard work, purposeful work and work that produces wealth and most of all those Judeo-Christian ethics that allowed a free market that shamed rather than glorified greed and excess. You cannot legislate behavior, it must be taught by parents who actually give a damn. Once we let our families and core values go there is NO HOPE.
» wrote on 01.29.10 @ 06:32 PM
Bush created 2.866 million jobs until 2008, when we lost 2.5 million jobs. So 366,000 jobs in eight years after massive tax cuts.
A year ago the stock market was 4,000 points lower than today.
So whose 401k looks better today then when Bush left office?
And Jeff, Tell us what date you advised your clients to completely bailout of both stocks and real estate or didn’t you? If it was before all the implosion I will be more inclined to give creedence to your economic analysis.
» wrote on 01.29.10 @ 10:03 PM
TO LOL
To answer your question, during the Bush administration, wages in the U.S. adjusted for inflation did not grow. If you don’t believe me, maybe you will believe the U.S. Bureau of Labor statistics, see http://www.njfac.org/Wage report.htm
No, Bush didn’t pass a law declaring flat wages but he did give breaks to corporations, continued deregulation and he failed to fix immigration, all leading to depressed wages for ordinary workers.
Also, it’s pretty clear that while Bush got us into Iraq and wasted about $1 trillion dollars there, Obama will have our combat troops out by this August, as promised. I think you could agree there is a difference between getting us in and getting us out.
Where is your sense of responsibility that you preach to others? And how could Obama possibly fix what it took Bush 8 years to break? Bush controlled the house and senate for 6 years and still had a 55-45 edge in the Senate his last 2 years. Why does gas cost so much???
Lucy, you got some ‘splainin to do…which I guess is why you spend all your time (and pixels) attacking Obama instead.
» wrote on 01.30.10 @ 11:00 AM
Sorry, mean my above post to go on Joe Conason’s thread. Although after reading Infomaniacs comment its worth repeating here anyway.
» wrote on 01.30.10 @ 12:22 PM
publius:
Answer: Zero, nada, nicht, rien.
How many times do I have to tell you?
» wrote on 01.30.10 @ 03:56 PM
R. Foster:
Thanks for using your name. FYI I don’t have clients, I don’t advise people, and other than my blog, I mind my own damn business. I started writing my blog in mid ‘08. Sorry. But most of the guys who got it right before the crash were free market types. But I can’t claim a track record. So far though I’ve been pretty accurate.
To the Others:
I seem to have to repeat this every time I post:
I don’t like Bush, didn’t like any Bush, am not a conservative. I don’t support bailouts, government stimulus, Fed induced business cycles, the war in Iraq, or a lot of other things I am accused of. But I do think that Obama is a typical corporate-statist type seeking a European style welfare corporatist state.
» wrote on 01.30.10 @ 08:40 PM
I will believe you Jeff, if you simply post all your financial transactions of the past 20 years. I don’t believe for a second that you haven’t benefitted from all the propping up of the real estate market.
» wrote on 01.31.10 @ 04:30 AM
There are an amazing number of obvious right wing conservatives who now denounce Bush after having voted for him twice . Independents and Tea Party members they like to call themelves . This same group now has no problem lavishing us with opinion re/ the direction of our country . They are so damn cocksure to the point of absurdity. What is that mentality?
» wrote on 02.01.10 @ 09:32 AM
Did you ever stop to think (perhaps I should end my comment right there) that maybe right wing conservatives voted for Bush because of the alternatives offered? Gore and Kerry? Get real. Actually though, the article is about Obama (blaming Bush) so get over the Bush Derangement Syndrome that you share with your leader. It’s 2010 now. Bush is back in his village in Texas. There is now a village in Kenya that is missing an idiot. And by the way, we denounce Bush because he turned out to be too liberal.
More Local News »
Jeff Harding: Is Ron Paul a Bigot?
There's a lot to like and dislike about him, but such accusations are nothing but political smear
Jeff Harding: Conventional Wisdom and Our Stagnating Economy
Perhaps it's time for a 'new' approach, with policies proven to make economies grow and people prosper
Jeff Harding: Apple’s Steve Jobs Left His Mark on Technology — and Us
He was a visionary whose efforts changed the world for the better
Jeff Harding: The Hoax That Is the Infrastructure Bank
We don't need the BUILD Act, and it won't create a single new job
Jeff Harding: Obama Goes ‘Japanese’ — $447 Billion in New Infrastructure Spending
President's proposed American Jobs bill will add debt upon debt with no economic gain
Weather: Fair 44.0º
Search Noozhawk »
