Obama Administration Losing Credibility
I’m not the only one who’s noticed that the Obama administration isn’t running a tight ship these days. Karl Rove’s WSJ column highlights that fact, too:
Team Obama was winging it when it declared the stimulus would “save or create” 2.5 million, then three million, then 3.7 million, and then four million new jobs. These were arbitrary and erratic numbers, and they knew there’s no way to count “saved” jobs. Americans, being commonsensical, will focus on Mr. Obama’s promise to “create” jobs. It’s highly unlikely that more than 180,000 jobs will be created each month by the end of next year. The precise, state-by-state job numbers the administration used to sell the stimulus are likely to come back to haunt them as well.
Here’s proof that the Obama administration isn’t being taken seriously:
TRADERS REVOLT: CNBC HOST CALLS FOR NEW ‘TEA PARTY’; CHICAGO FLOOR MOCKS OBAMA PLAN
This is a top-of-the-page headline on Drudge. This isn’t unexpected. Last night, while talking with my brother, I said that my IRA would be better off if President Obama and Tim Geithner stopped giving high profile speeches. When President Obama signed the spending bill, the stock market dropped 297 points. When Geithner introduced his TARP II plan, stocks dropped 382 points.
Mr. Rove is right. When people walk into a polling station, they aren’t going to remember the number of jobs that Obama’s policies saved. They’ll want to know if jobs were created. They’ll want to know if the Obama administration has led them to prosperity or has put them on a path to prosperity.
UPDATE: Drudge just linked to the video of the Tea Party comments. Unfortunately, they don’t have an embed code. Instead, follow this link to view the CNBC video. It’s stunning in that the traders are totally opposed to much of President Obama’s plan, especially the mortgage bailout.
If the Obama administration doesn’t change directions, voters will reject their policies and stop listening. That’s the worst place for an administration to be.
A few things are certainties: I’m not the first person who hinted that the Obama administration’s credibility was flagging. Karl Rove and CNBC won’t be the last ones to ridicule the administration’s policies.
Last but certainly not least, the Obama administration is putting itself in the precarious position of trying to sell radical, anti-capitalist policies to a capitalist nation. That isn’t a place where they want to be, especially this early in the session.
UPDATE: RCP has posted the embed code for the CNBC video. The more I listen to it, the more I think it’s the type of thing that will rock President Obama’s world.
Technorati Tags: Economy, Capitalism, Free Markets, Mortgage Bailout, Tea Party, Job Growth, Prosperity, Karl Rove, CNBC, President Obama, Competence
Cross-posted at LetFreedomRingBlog
February 19th, 2009 at 2:14 pm
At the risk of sounding callous, belay that, at the risk of sounding cold hearted, the real loosers in all of this isnt the poor bedraggled UAW that part of this first trillion is subsidizing in proping up the companies they helped drive to ruination. It isnt the “homeless”, they are loosers to begin with.
The loosers are those who bought homes they could afford, are paying or have paid off the mortgages on them, who put money aside in an IRA or 401, paid their taxes on top of taxes, on top of taxes, on top of taxes, and know are being strong armed to reward the irresponsible, corrupt and imcompetent who got us in this mess and should be allowed to fail.
Im not a union worker, never was, but I have friends that are; railroad men, and electrical workers that are appalled and sickened by the stuff the UAW has gotten away with, and now have the Democratic party in their pocket over.
So its not just traders that are waking up to what the DOLTS who voted this bunch in have unleashed on the country.
February 20th, 2009 at 7:06 am
Look on the bright side: we’ve only 47 more months of this garbage. Given, of course, that we’re still around then.