2012 Tuesday: This week, it’s all about Obama
There’s not much percolating in the GOP presidential race right now besides the same old, same old: Texas Gov. Rick Perry all but saying he’s running, just not yet; Michele Bachmann and Tim Pawlenty sniping at one another in what may turn out to be an elimination contest between them in Iowa; Herman Cain still trying to explain his various comments about Muslims as he fades from real contention.
If they’re smart, Republican candidates are letting this week in 2012 politics be about Barack Obama and the nation’s debt.
The president spent weeks insisting it was up to Congress to solve the debt-ceiling problem — which is technically true, although the reality that he has to sign any legislation Congress passes suggests it’s not crazy of the leaders on Capitol Hill to think they should have buy-in from the White House beforehand. Then Obama did get involved, repeatedly describing himself as the only responsible person in Washington and talking about the leaders of a co-equal branch of government as if they were his children.
The primary result, to date, has been to drive said leaders away from his negotiating table to work on a deal — a deal that, as of right now, looks like it will ignore Obama’s central demand of including new tax revenues. That, and to leave Obama giving a primetime address to the nation in an attempt to keep himself relevant in the very negotiations he once wanted no part of.
The president’s speech Monday night also had the ostensible goal of making sure the public blames Republicans in the event of a technical default or a credit-rating downgrade. Which was curious, given that Democrats keep citing public opinion polls indicating the public’s already doing that. Are Obama and his fellow Democrats worried that they’ll actually get too much of the blame?
And what if a deal is struck? By making it clear that his talks with Speaker John Boehner were fruitless, Obama has essentially cut himself out of any credit for a deal. If a deal is struck, it most likely will not be because Obama was able to pull various congressional factions together but, rather, because Congress called his bluff by putting together a deal that wasn’t on his terms.
Some Republican voters might blame GOP lawmakers for a deal that they view as too much of a compromise, but read my lips: That’s not going to make those people vote for Obama next year. Or stay home from the polls rather than voting for his GOP opponent. Who, in all likelihood, will be someone who wasn’t in Congress during this debate. (Sorry, Michele.)
I doubt Obama will get a primary opponent, despite Sen. Bernie Sanders’ laments. But I think it’s reasonable to ask whether liberals will be as enthusiastic about keeping Obama as conservatives are about voting him out, especially when I see poll numbers like these reported by the Washington Post:
The Post-ABC poll found that the number of liberal Democrats who strongly support Obama’s record on jobs plunged 22 points from 53 percent last year to 31 percent. The number of African Americans who believe the president’s actions have helped the economy has dropped from 77 percent in October to just over half of those surveyed.
The last three national elections — 2006, 2008 and 2010 — have been repudiations of the ruling party (in Congress, the White House and Congress again, respectively). The next one is shaping up likewise, and more weeks like this one will make it hard for Obama to buck the trend.
– By Kyle Wingfield
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119 comments Add your comment
Tundra Dude
July 26th, 2011
7:11 pm
Linda@6:29
The Dodd-Frank bill did absolutely nothing to prevent another economic crisis. It addressed nothing that was broken.
The (Wall Street indentured) Red party will see to it that there’s no meaningful reforms.
from: Bloomberg 07-11-11
Dodd-Frank Act Forcing Banks to Slim Down,Reshape Swaps: One Year Later
(snipped)
House Republicans, swept into power in the November elections, are pushing bills to revise, delay or repeal parts of the law including the consumer bureau, derivatives rules and the registration requirements for private equity advisors.
“Many people think that not much has happened because so much of it is delayed and behind schedule,” said Roy C. Smith, a finance professor at New York University’s Stern School of Business. “That is not the case. In fact, the statute has pretty powerful provisions in it with respect to regulating systemic risks.”
Linda
July 26th, 2011
7:19 pm
Why is it that people on these blogs who have the grammar/writing skills of third graders, the manners of federal prison guards & the cognitive ability of pets still support Obama?
Lil' Barry Bailout
July 26th, 2011
7:33 pm
Doesn’t that question sort of answer itself, Linda?
Linda
July 26th, 2011
7:34 pm
MarkV@6:30, I’m not embarrassed. I’m proud.
I’m not a sophomore. I graduated with a Bachelor of Science Degree in Economics from one of the largest universities in the Southeastern US.
I’m hardly stupid, but can recognize same.
I heard O’s speech as did millions of Americans & here it is in its entirety. It gets worse during the question & answer session.
http://www.shallownation.com/2011/07/22/president-obama-debt-ceiling-speech-video-july-22-2011-press-conference-on-budget-deficit-talks/
Inanities? O is the winner.
HDB
July 26th, 2011
7:34 pm
Linda
July 26th, 2011
7:19 pm
Why is it that people on these blogs who have the logical capabilities of neanderthals, the cognitive ability of pets, the economic losses of millions still support Republicans???
Note how many people have LOST economic capability under Republican Administrations?? 401(k)s mean anything to you??
Lil' Barry Bailout
July 26th, 2011
7:40 pm
George W. Bush never allowed unemployment to rise to 8%, much less 9% or 10%.
Under the Obozo regime, it’s the new normal.
Lost economic capability, anyone?
HDB
July 26th, 2011
7:46 pm
Lil’ Barry Bailout
July 26th, 2011
7:40 pm
Recheck things, LBB…..many LOST economic capability under GWB….particularly those who were affected by 9/.11!!! I PERSONALLY lost an upper 5-figure job two weeks after 9/11 and was unemployed for over two years! Many did not recover until Obama’s election! Personally, I made it back to mid-5-figures under Obama…..but couldn’t get there under GWB!!
Lost economic capability….YES!!
Before you conjure up the “parasitical” thought….I am college educated, married, AND a minority!! Remember: it’s a recession when someone else loses a job….it’s a DEPRESSION when you lose yours!!
Lil' Barry Bailout
July 26th, 2011
8:00 pm
Wishful thinking, HDB. We have a smaller percentage of people employed under Obozo than at any time since the Great Depression, and that happened on Obozo’s watch due to Obozo’s failed policies. More one food stamps. More on welfare.
Obozo’s the worst since FDR on unemployment and folks taking handouts.
Lil' Barry Bailout
July 26th, 2011
8:01 pm
Oh, and your Idiot Messiah’s failures only cost us $800 billion in his non-stimulus plan.
John Konop
July 26th, 2011
8:01 pm
It is Time
Both deals proposed by the GOP HOUSE and Reid avoids the tough choices we as country need to make ASAP. Both plans avoid the real spending cut issues with entitlements and military that is the key to balancing the budget.
As far as taxes we can not afford to tax at a federal 14% rate when we know 18% of GDP has been proven to be the ideal rate. And for anyone not to support fixing loopholes and subsides to fix this problem is irrational. I remember when conservatives use to be against picking winners and losers with the tax code.
I realize bending cost curve on healthcare will be tough on many. Yet we cannot keep taking 1 dollar and keep spending 3 dollars on Medicare. We cannot avoid dealing with tough issues like end of life cost, higher co-pays, less elective coverage if at all, negotiated drug prices……….
I realize many will be hurt by rising the age on social security eligibility based on life expectancy. But this tough call must be made. And I do think a national sales tax to replace FICA would soften the blow and create more jobs.
While I know this deal is not perfect, I do think the gang of 6 compromises is a great first step and all of you no matter what side, should reach out to your congressman. This is the only plan that attempts to deal with the above key issues. And if we do not get a real plan and only band aides proposed by the GOP HOUSE and Reid we will all pay for this mistake. Interest rate increases will have major affects on the economy from consumer spending, jobs, housing………
It is time to act like adults and stop playing politics. Please call and do not be fooled by the politics.
I Report (-: You Whine )-: Thee Magnificent!!! mmm, mmmm, mmmmm! Just sayin...
July 26th, 2011
8:14 pm
Inordinate self-regard is an occupational hazard of politics and part of the job description of the rhetorical presidency, this incessant tutor. Still, upon what meat doth this our current Caesar feed that he has grown so great that he presumes to command leaders of a coequal branch of government? He once boasted (June 3, 2008) that he could influence the oceans’ rise; he must be disabused of comparable delusions about controlling Congress.
Our little Nero, the tard.
HDB
July 26th, 2011
8:34 pm
Lil’ Barry Bailout
July 26th, 2011
8:00 pm
Not wishful, LBB….experienced!! Many people that I know are beginning to financially recover from the Bush Decade (finally, I’m one of them!). Granted, it’s not as it should be….but for many, the recession HAS been arrested!!
Also…..it takes anywhere from 18-24 months for major political changes to take effect….and in adverse economic times, it can take longer!! If real, democratic policies HAD taken effect rather than pseudo-capitulation to GOP politics, then the nation could be back on a path towards prosperity! Return to the Clinton tax rates, close the corporate loopholes that allow businesses to offshore employment……that’d be a start!!
Linda
July 26th, 2011
9:09 pm
HDB@ 7:34, Before I address your comment, let me tell you that my father never walked a step in his life. He was deformed. He never expected nor received a dime from the govt., until he retired & received SS. He could not afford a wheelchair until he was 40. He was a hero in our hometown. He never met anyone who was not deserving. My former family & my current family help people.
What you do not understand is that the Dem. Party is using blacks & poor people to advance their agenda. How long will it be before you wise up to the fact that the Dems. are using blacks & poor people to gain power? God would not have created black people in this skin just to see them suffer & fail.
Your ancestors did not sacrifice their lives in pursuit of freedom only to become enslaved in 2011. Now, in 2011, O, a black man is propagating govt. as our new “master.” He’s polished & refined, but he is no less deliberate & agenda-driven. Just because O is a black man does not mean that blacks & whites are not slowly & unwittingly being enslaved. Blacks & poor people need to stop looking to the GOV for whatever they do not get from GOD. Only then can they realize the power they have to make a difference in this nation & the world & put an end to the slippery slope of socialism which is what O is furthering.
There is absolutely NO indication that anyone lost any economic capability under Rep. adms. vs. Dem. adms.
Lil' Barry Bailout
July 26th, 2011
9:23 pm
Obama’s ‘jobs czar’ moving X-ray business to China
Bloomberg News / July 26, 2011
General Electric Co.’s health care unit, the world’s biggest maker of medical imaging machines, is moving its 115-year-old X-ray business to Beijing.
“A handful’’ of top managers will move to the Chinese capital, said Anne LeGrand, general manager of X-ray for GE Healthcare. The headquarters will move from Wisconsin amid a broader plan to invest about $2 billion across China, including opening six “customer innovation’’ and development centers.
—————————–
Fail.
Linda
July 26th, 2011
9:48 pm
Lil’ Barry, Go to Kyle’s blog last night & see how I defended you & get back with me.
HDB
July 27th, 2011
4:23 am
Linda
July 26th, 2011
9:09 pm
You must have missed the report from Pew showing that wealth declined in this nation over the past decade…and the wealth gap between whites and minority is the GREATEST in history at 20:1! Economic capability HAS declined under Republican Administrations….particularly the Bush Administration! Lest you forget history; look what it took for ethnic minorities to be CONSIDERED a part of the American fabric! Last HIRED — FIRST FIRED!
What YOU do not understand is that the Republican Party is using blacks & poor people to advance their agenda: the destruction of the social contract and safety net. How long will it be before you wise up to the fact that the Republicans are using blacks & poor people to maintain wealth and power?
Lil' Barry Bailout
July 27th, 2011
8:00 am
HDB: If real, democratic policies HAD taken effect rather than pseudo-capitulation to GOP politics, then the nation could be back on a path towards prosperity! Return to the Clinton tax rates, close the corporate loopholes that allow businesses to offshore employment……that’d be a start!!
——–
I’d love to hear you explain how higher taxes lead to prosperity. Taking from the more creative, more productive private sector slows growth and lowers wages.
Lil' Barry Bailout
July 27th, 2011
8:03 am
Linda, I’m sorry if you thought I was criticizing. I merely suggested that the answer to your question was self evident (i.e. Ignorant voters)!
HDB
July 27th, 2011
10:31 am
Lil’ Barry Bailout
July 27th, 2011
8:00 am
Seems as if you’ve forgotten your history!
1) Greatest periods of economic growth in the nation:
a) Period after WW2 – nation was paying for the war, the GI Bill, American industry was growing…tax rate under Eisenhower: 91%
b) Clinton Years: Nation was at full employment, dot-com and real estate booms: tax rate: 39%
2) Least periods of economic growth:
a) Reagan/Bush Years: Taxes cut….three recessions; Reagan raised taxes three times…nation began economic rebound.
b) Bush43: Taxes cut – two wars financed with borrowed money; 9/11, recessions (2), massive job losses…tax rate: 35%
GDP increases when the government collects the necessary revenue to meet its obligations…and puts money into the economic system! Look at the vendors to the government…from defense to operations…….so the government spends money IN the private sector, thereby allowing the private sector to expand!! There IS a correlation!!