Thoughts on Last Night's Speech by the President

1) "The USA will emerge stronger than before." That's a tall order. I'd settle for "we will recover". Given the demographics of the changing world we live in (read Zakaria's Post-American World), I wonder if that's a promise the President should be making.

2) I read the speech in its entirety twice and did not find one mention of immigration. The President says we owe our prosperity to our ingenuity and tenacity. I think that's true but a lot of that ingenuity and tenacity came from first and second generation immigrants. If we are not prepared to open up our borders more broadly to the best and brightest and toughest in this world, all the rest is just words.

3) His economic plan has three initiatives, a revised TARP, HASP, and stimulus. That's it. I did not get the sense that there is more after that. I don't know if that's good or bad, but that's the hand he's playing.

4) Hardest working people on earth? C'mon Barack. Don't bullshit us. Go back and read number two.

5) He's also got three domestic priorities; energy, health care, and education. He's right that our economy is highly impacted by them. I'm impressed that he's picked some stuff to focus on and I think these are three great areas to focus on for long-term sustainability.

6) 95 percent of the jobs created with stimulus will be private sector jobs. That's a great factoid. Let's put a big pie chart on the front page of recovery.gov and chart that in real time please.

7) A new accountability for money spent saving banks. Barack said "I intend to hold these banks fully accountable for the assistance they receive". Good luck with that. Money is fungible. It doesn't have RFID tags on it. Trust me on this one. I know a bit about handing over money to companies. There's only one way to know it will be spent well, and that is smart, honest, and capable management. An army of accountants is going to get unleashed on the banking sector and god help them and us.

8) "It's not about helping banks - it's about helping people." I'm with the President on this. I also appreciate his statement that his job is to solve the problem. He's got that right. I'll be measuring him on how he does on that measure. It's a hard problem made harder by the people whose house he was in last night. I'm rooting for him. We should all be rooting for him.

9) Energy - the best part of his speech was the bit about energy. He gets it. But the auto sector has the potential to be the "Vietnam" of his energy plan. Act swiftly and courageously there, Mr. President, or it could be a noose around your neck. Just look at GM. In two short months they are back on your doorstep with their hands out. When a portfolio company acts like that in our business, they are dead on arrival.

10) Education - I think the President missed an opportunity last night to call on the private sector to invest in education. There are literally thousands of amazing entrepreneurs working in this industry and I think they'll collectively do more to reform and reinvent education than anything that comes out of Washington.

11) Fiscal discipline. It's a bit surreal to be talking about balancing the budget in light of stimulus, HASP and TARP. The only way it's going to happen is huge cuts in defense spending and a wholesale re-evaluation of our domestic spending priorities.

Watching Pelosi and Biden behind the President was distracting and a reminder that as well intentioned as Obama is, he's got an impossible job. That's all I've got. Please let me know what you thought of it in the comments.

Comments

[agneaux:]

When Obama said "We will recover", I'm pretty sure he was referring to the White House furniture.

Feb 25 03:47 PM

[bricki:]

There are many reason to not use that terminology. To begin with I have had dealings with the INS, and immigration law as administered in this country. I know from personal experience that people who are legal immigrants are not necessarily the educated elite that you want to encourage, and vis-a-versa; the illegal immigrants are not always the people that you want to keep out. It is far better to be accurate - it is the educated that contribute immediately, regardless of their legal status.

As far as population decline - I think it is an excellent idea to keep the population of the US from declining unless you understand the consequences and have in place a way to manage it. This will be especially true over the next couple of decades as the boomers die off. The predictions of labor shortage are out there. While the recent bad economy may delay a lot of retirements, it won't delay people dieing off.

Who knows 30 years from now we may be like the Japanese - they have programs now where they send their workers home early hoping that they will engage in 'quality time' with their spouses and thereby increase their birth rate. We may even be recruiting Mexicans and encouraging them to settle in the US - and issuing them free Viagra.

On Feb 25 02:11 PM Jason C. Rines wrote:

> Can we just call a spade a spade and say legal immigrants seem to
> outperform and illegal aliens drain our society?
>
> As to population decline. Why do you think the U.S. government allowed
> 20 million Mexicans to enter our country illegally in the last decade?
> I leave the creative thought process to you on the demographics of
> Mexican child-birth or usage of contraceptives.
>
> What should have happened is to have forced illegal aliens to register
> for citizenship in 2007 or lose ALL benefits. Government should have
> heavily fined businesses hiring illegal aliens. Those willing to
> stay with no more benefits could apply for citizenship and receive
> reduced benefits but have a three strike your out rule on criminal
> activities (I am talking misdameanors, one strike your out on felony).
>
>
> But the government felt it could not sell the idea of competion of
> jobs to the American people, of 'breeders' to fix a population decline
> problem or analysis of cost-benefit. Winning elections is far more
> important then public service for our current government. Harsh economies
> do have a way of changing things for the better and governments are
> the last to be forced to change.

Feb 25 03:52 PM

[@TexasER:]

His bit about energy was completely depressing. His rhetoric was great…we need to break our dependence on foreign oil, seek renewable sources, etc. I got excited and leaned closer. And then he continued “that’s why I’m proposing $15B…….”

Are you kidding me? $15B is about what we’re throwing into the banking system on a daily basis.

We need to act boldly? And this is bold? Bold would be saying that in 10 years the US would not import a single drop of oil. Even if we fudged it a little and said we would only consume oil from North America. That the government was initially allocating $1T in private sector incentives and rebates to this effort.

That would be bold. All we got was a punch line.

Feb 25 03:57 PM

[bosun.j:]

Didn't know he's German, not sure it matters. Been to Germany many times. Some were like that many weren't. Austrians are still that way though.

I see the editors removed his racist rant post. Too bad. Free speech means knowing who you can trust. Not pretty, but safer than not knowing. Oh well, its their site.


On Feb 25 04:01 PM bricki wrote:

> He's a German. That's what they do.
>
> On Feb 25 03:43 PM bosun.j wrote:

Feb 25 04:45 PM

[Tony Petroski:]

I'm from Minneapolis and we've been spending gobs of money on education. We have new schools that are empty (in part because most people can't live with the level of crime and have moved out). Thanks Mr. President for the 57 cops (please send more) and what we really need are more prisons, not more "education" and empty schools.

Feb 25 05:17 PM

[X-15:]

Barak plan is no plan-lookin like Jimmy Carter redux... and the Republicans have nothing, Bush proved em brain dead.--with that plastic faced rebuttal --barf

we are so screwed !

Average American male -is a toy hugger ..and will
not pay a dime more than needed for Gas. So what if 70% of everydollar that goes into a gastank transfers your wealth (nations wealth) to your buddies in S.A. Iran, Ven...... ohh thats right, our biggest supply comes from Canada...well 10 years ago it was Mexico ,until we used that field up.

Send 1/2 Trillion dollars yearly overseas for the a'FIX'

As some other junkies, the Sex Pistols sang...

nooooo future nooooo future nooooo future....

Feb 25 07:55 PM

[PainfullyAware:]

On Feb 25 09:25 AM bosun.j wrote:

> Why would anyone strive so hard to elected to a job only to get handed
> a huge platter of shit and a few slices of stale moldy bread?


Front Man For The Order? Groomed From Youth? Loves The Attention? Wanted To Decorate The White House? Who Knows?

Anyone That Wants The Job Is Almost Certainly Unfit For It.

He does have the Master Orator Skills Though.

I wish him well; what a crazy event to inherit.

Feb 25 09:27 PM

[Teutonic Kn...:]

It was a pretty good sales job. I don't think I could doubt his sincerity. It just crossed my mind though, he probably would have made a very successful pastor, an evangelical one.

Look - he spoke over a hour without looking over any speech scripts...That I would have to give him a A -.

Feb 25 09:36 PM

[sether:]

Cheers to that.

On Feb 25 01:20 PM Lightway wrote:

> Glad to see a balanced review of an Obama administration communication
> for once. Getting tired of the "Obama please say whatever makes my
> stocks go back up while everyone else gets screwed" attitude around
> here.
> Wall Street needs to take its medicine and let the economy go though
> the pain of purging all this leverage before we can really recover.

Feb 25 09:49 PM

[atlasman:]

I could not stop thinking of Richard Gere's performance of "Razzle Dazzle" in Chicago as Obama was speaking. Perfect analogy.

Give 'em the old razzle dazzle
Razzle Dazzle 'em
Give 'em an act with lots of flash in it
And the reaction will be passionate
Give 'em the old hocus pocus
Bead and feather 'em
How can they see with sequins in their eyes?
What if your hinges all are rusting?
What if, in fact, you're just disgusting?
Razzle dazzle 'em
And they;ll never catch wise!

Feb 25 09:52 PM

[Lin:]

X-15 ,Philais ,Duck Soup ,

Sadly , you are soo correct . Bosen J, To your question re why would he want that job ? He was chosen , by " the illuminati " Electorate decision , not really an election . Surely , you realize this .

Feb 25 11:27 PM

[Jim Hawthorne:]

Holy cow, man! In case you missed it, we're ALL immigrants here! (Some just have a little seniority!)


On Feb 25 08:39 AM markg wrote:

> This article is an Editor's pick? Must be very slim pickings. Most
> of this was a bunch of disjointed ramblings with nothing to substantiate
> any opinions offered.
>
> And why are the immigrants the best, brightest, and hardest working?
> This is another over-simplified generalization.

Feb 25 11:56 PM

[expat in China:]

1. We are strong now and will remain part of the top, but we are a stupid country.

2. I agree with controlled immigration the world is a dangerous and scary place, theres no free land grabs and we have enough risk in the country at this time. Look at the EU immigration issues

3. 3 initiatives is 2 to many, let evolution take its course if we smarten up we will not repeat the blunders

4. Accountability loooooooooollllloooo ya sure who, when and what accounting firm will get this plumb.

5. Energy sure we can buy all the products from the emerging markets because if you buy from high cost countries the payback is never.

6. Health care -

7 Education great, start with the stupid bankers and spend the rest on Graffiti proof paint. Will the repairmen and painters have Phd's.

8. Fiscal discipline like the TARP allready wasted half, Auto bailouts money gone more requried, "house or chicken in every pot"

8. If Polosi doesn't dissapear quick there will be no country buying US bonds! Our lenders don't like her and dont trust her, So Hiliary had better take her out to the wood shed and have a talk.


What "The Obama" should do is:

A -Put the navey around the country close enough so American business can make billions serving them.

B -Bring the military home, give them the remaining tarp money (raises) and let them afford homes while there cheap.

C- Nationalise AIG under a National health care program and take over the auto companies boat anchor of health and pension debt.

Feb 26 05:04 AM

[Ferdinand E...:]

Fred, I was going to tell you that you don't know what you are talking about, however some other contributors beat me to it. One point however deserves some comment. I don't know of a single country in the world that cannot use a few - or perhaps more than a few - of the right kind of immigrant. The problem is however that the dumb politicians haven't figured out how to avoid taking in the other kind. If President Obama can solve this dilemma, he'll deserve to be elected to a half-dozen terms.

Feb 26 09:01 AM

[jimzee:]

Green Eyes,

You hit the nail on the head. This guy is a work in progress. His resume consists of community activism with that revered, leftist organization Acorn. It is downright scary to think how easy it was to sucker the suckers (ass-zombies) that voted for this obomination. I'm really disappointed in the main stream media propaganda machine. They have to be wondering why their advertising revenues are declining. Could it be that the self-reliant people have them figured out?


On Feb 25 12:02 PM Green Eyes wrote:

> I must say.... I didn't vote for the man. So watching his speeches,
> it takes great effort to actually listen to what he says and smirk
> as his approval rating goes down from 84% post election to around
> 66% and so on... what happened people? The sky didn't open up and
> everyone wasn't given a free pass to Utopia? OF COURSE NOT PEOPLE
> -- he's a politician. He's a very charismatic and charming one at
> that. But I guess when you have a biased media pumping misinformation
> into the ass-zombie masses they know no better than to hop on the
> Obama Express. Well the train has pulled in and now we're up to our
> eyeballs in debt and I'm honestly scared.
>
> I don't know about you, but socialism isn't my cup of tea. All I
> can do is sit by and wait for the day when (not if) his scandal comes
> to light. Because I was always taught that when it walks like a crook
> and talks like a crook.....

Feb 26 12:39 PM

[ed martinez:]

2 and 10 together would have a multiplier effect on our future standard of living and domestic tranquility. Accepting the inevitable demographic changes could help us realize that the sooner we bring immigrants into our national fabric the greater will be their contribution. Simply put: They're here, let's educate them.


On Feb 25 08:32 AM tginomorebush wrote:

> who the hell is fred wilson?

Feb 26 03:19 PM

[Green Eyes:]

That's uncalled for, especially when you're sitting pretty, retired in Thailand sir. You aren't amidst all of this.

On Feb 25 01:26 PM bosun.j wrote:

> Is that you Charlie? Uniform? November.......

Feb 26 05:13 PM

[Green Eyes:]

Have you seen howobamagotelected.com ? You might check that out.

It's nice to find there are a few stout hearted patriots left :)


On Feb 26 12:39 PM jimzee wrote:

> Green Eyes,
>
> You hit the nail on the head. This guy is a work in progress. His
> resume consists of community activism with that revered, leftist
> organization Acorn. It is downright scary to think how easy it was
> to sucker the suckers (ass-zombies) that voted for this obomination.
> I'm really disappointed in the main stream media propaganda machine.
> They have to be wondering why their advertising revenues are declining.
> Could it be that the self-reliant people have them figured out?
>

Feb 26 05:20 PM

[Hmm?!:]

I am all speeched out.

Our problem is not the politicians but the media. I still have yet to hear from a non government Economist on the whole thing!

The Cato institute puts out a full page advertisement in the Wall Street Journal signed and supported by economics professors from just about every relevant University in the country (hundreds).

Think about this for a minute....Hundreds of economic experts who stand to gain millions to Billions for their institutions..... and they say "no thanks it is better for America not to give us money"? There bosses know what they did....(department Deans, university Presidents) ....not good for career advancement or any salary increases.

Days later, I cannot find any evidence in the mainstream media that it ever happened. Can I here from the economic experts who said no to the government money now?

Feb 26 11:29 PM

[Hmm?!:]

Bricki,

It took me a looooonnng time to legally immigrate to America (nine years). And your whole immigration argument below is totally baseless.

To LEGALLY immigrate to America, there is a list of exactly what AMERICA needs......Doctors, Nurses, Engineers etc.. If you are not currently on the list.....no work visa.

If you are not on the list America will get no net gain from your illegal entry. NO tax revenue, no needed intellectual capital. Just unpaid social services and medical bills. There is absolutely NO evidence that shows the children of an illegal immigrant are more likely to attend college. I would guess less likely!

Meanwhile blue collar America has to suffer through lower wage pressures and on average double the unemployment rate of college graduates.

And because of more Liberal nonsense the LA police department has been blocked from recording the number of crimes committed by illegals (estimated at well over 80% of murders in LA).


On Feb 25 09:50 AM bricki wrote:

> I agree about the bit regarding immigration. The population of the
> US isn't having enough children to replace themselves, which can
> be a serious economic problem. Japan and Germany are in this boat,
> and as a result can't generate much internal demand making their
> economies way too dependent on exports. This is why their economies
> are crashing harder than ours.
>
> First generation well educated immigrants are a gold mine; they add
> to our economy immediately. My wife is in this group - and you will
> have to look long and hard in the US to find someone to match her.
> Multiple advanced degrees, speaks 7 languages, got her first college
> degree at age 17.
>
> First generation uneducated immigrants are more problematical - they
> are a drain on the country, and are so until their children get out
> of school. After that though they do pretty well. Those children
> know what their parents went through are are quite productive. It
> is important to manage this population.

Feb 27 12:33 AM