Obama's Washington Post Editorial: Reading Between the Lines

Below is the complete text of Barack Obama's editorial in the Washington Post (Rebuilding Something Better) yesterday. My comments are in italics.

Nearly six months ago, my administration took office amid the most severe economic downturn since the Great Depression (really, since 1980, but we're approaching depression status quickly under your leadership). At the time, we were losing, on average, 700,000 jobs a month (really, about 650,000). And many feared that our financial system was on the verge of collapse (it was, except for Goldman Sachs).

The swift and aggressive action we took in those first few months has helped pull our financial system (yes) and our economy (no, the rate of deterioration has merely slowed modestly) back from the brink. We took steps to restart lending to families and businesses (hasn't worked), stabilize our major financial institutions (if by stabilize you mean nationalize), and help homeowners stay in their homes and pay their mortgages (that really hasn't worked! Forclosures have skyrocked since you took office!). We also passed the most sweeping economic recovery plan in our nation's history (you passed a "stimulus" plan that consisted of 800 billion dollars in spending over 4 years, that no one read before voting into law, that has had minimal economic impact to date).

The American Recovery and Reinvestment Act was not expected to restore the economy to full health on its own but to provide the boost necessary to stop the free fall (still free falling). So far, it has done that (no, it hasn't, the trajectory of unemployment increases is unchanged, foreclosures and defaults are skyrocketing, and California is bankrupt). It was, from the start, a two-year program, and it will steadily save and create jobs as it ramps up over this summer and fall (we hope). We must let it work the way it's supposed to, with the understanding that in any recession, unemployment tends to recover more slowly than other measures of economic activity (what measure of economic activity is recovering?).

I am confident that the United States of America will weather this economic storm (laden with trillions of new debt). But once we clear away the wreckage, the real question is what we will build in its place (France? Cuba?). Even as we rescue this economy from a full-blown crisis, I have insisted that we must rebuild it better than before (and your qualifications to rebuild America better than before are what? and your definition of better than before is what?). For if we do not seize this moment to confront the weaknesses that have plagued our economy for decades, we will consign ourselves and our children to future crises, sluggish growth, or both (el Presidente, economies have cycles, chill out.).

There are some who say we must wait to meet our greatest challenges. They favor an incremental approach or believe that doing nothing is somehow an answer (it almost always is, especially when your idea of change is to destroy the greatest engine of economic growth in the world in the past 100 years). But that is exactly the thinking that led us to this predicament (no, this predicament is a credit crisis and an economic bust. They happen every so often. They end too, of their own accord). Ignoring big challenges and deferring tough decisions is what Washington has done for decades (this is just plain over-reach el Presidente, are you saying no tough decisions have been made in Washington for decades until you were installed in office? that's malignant narcissism if not lunacy), and it's exactly what I sought to change by running for president (actually, you ran as a centrist and won merely 52.7% of the vote, not a mandate to ignore the Constitutional limitations on Federal power).

Now is the time to build a firmer, stronger foundation for growth that not only will withstand future economic storms but that helps us thrive and compete in a global economy (ok). To build that foundation, we must lower the health-care costs (ok) that are driving us into debt (your spending is driving us into debt at the fastest rate in our history), create the jobs (the private sector is the primary creator of jobs and wealth, Federal jobs as construction workers and paper shufflers does not create wealth, it creates dependents on the state) of the future within our borders, give our workers the skills and training they need to compete for those jobs (that's called school, which too many people choose to drop out of), and make the tough choices necessary to bring down our deficit in the long run (it would help if you didn't spend a trillion dollars a quarter on wasteful government programs).

Already, we're making progress on health-care reform that controls costs while ensuring choice and quality (by screwing the doctors, which will lower access to care when they quit), as well as energy legislation that will make clean energy the profitable kind of energy, leading to whole new industries and jobs that cannot be outsourced (by not drilling for oil, not building nuclear plants, and discouraging the use of clean coal. Clean energy is what? battery powered cars that don't exist and solar energy which is prohibitively expensive and unworkable in many cloudy places? el Presidente any job can be outsourced)

And this week, I'll be talking about how we give our workers the skills they need to compete for these jobs of the future. In an economy where jobs requiring at least an associate's degree are projected to grow twice as fast as jobs requiring no college experience, it's never been more essential to continue education and training after high school (ok). That's why we've set a goal of leading the world in college degrees by 2020. Part of this goal will be met by helping Americans better afford a college education (good, those greedy universities, where you, el Presidente, were educated and worked, have been jacking up tuition and fees at many times the rate of inflation for decades. Are you going to mandate tuition reductions like you are mandating reimbursement reduction for doctors and hospitals? that would be terrific.) . But part of it will also be strengthening our network of community colleges.

We believe it's time to reform our community colleges so that they provide Americans of all ages a chance to learn the skills and knowledge necessary to compete for the jobs of the future (you're going to reform the most cost effective colleges around that actually work well at a reasonable price? Crap. you know, el Presidente, it seems that you are so out of synch with reality that you want to break what is working and leave untouched what is broken). Our community colleges can serve as 21st-century job training centers, working with local businesses to help workers learn the skills they need to fill the jobs of the future (el Presidente that is what they already do). We can reallocate funding (you mean spend lots more money that we don't have?) to help them modernize their facilities, increase the quality of online courses and ultimately meet the goal of graduating 5 million more Americans from community colleges by 2020.

Providing all Americans with the skills they need to compete is a pillar of a stronger economic foundation, and, like health care or energy, we cannot wait to make the necessary changes (we've waited 233 years, a few more won't matter). We must continue to clean up the wreckage of this recession (but it's still getting worse, you're writing as if its over), but it is time to rebuild something better in its place (like Cuba?). It won't be easy, and there will continue to be those who argue that we have to put off hard decisions that we have already deferred for far too long (count me in that group). But earlier generations of Americans didn't build this great country by fearing the future and shrinking our dreams (true enough, America was founded and thrived on the notion of individual and States rights, and limited Federal Power. Our Founding was inspired by a hatred of an oppressive English Government, "Give me Liberty or give me death" and "Don't tread on me," were rallying cries. What you are doing, el Presidente, is the opposite of the spirit of our Founding and our history). This generation has to show that same courage and determination. I believe we will (only if we vote you and your co-conspirators out of office as quickly as possible).

The writer is president of the United States. The commentator is a citizen of the United States.

Comments

[hoolio:]

That's not 'reading between the lines'. It's 'behaving like a silly 13 yr-old'.

Jul 13 05:20 AM

[Tim Miles:]

I agree. Another Wall Street rant. These folks should try to be part of the solution, not continue to be the problem.

Tim

Jul 13 08:04 AM

[User 446371:]

If providing an Associate's degree is the answer to unemployment, then why are there so many college graduates and people without Asoociate's degrees presently unemployed? Unemployment is eliminated by creating jobs, and small businesses provide 70% of the jobs in this country. We cannot have a robust economy if we tax those small businesses out of existence with the premise that we will replace those lost jobs with government created jobs. This is the classic case of diminishing returns.

Jul 13 09:23 AM

[TeresaE:]

I love your comments, except the education.

What Sir, and Mr. President, do you Utopian Idealists plan to do with the 50% (or more--look around you) of our population that is NOT CAPABLE of higher learning. Or locked out because of money or lack of financing?

The Higher Education/High Tech jobs mantra has been going on since Clinton decided that half our population should be forced to shop at WalMart because he was gifting their jobs to China, so that WalMart could become the monster they are now.

Currently NASA is getting ready to stop the shuttles and off shore those jobs to Russia.

NASA has already laid off 1000s of scientists, programmers and other "high tech" jobs.

Want to fix this mess?

Stop regulating/taxing small business to death and find jobs for the AVERAGE American.

Or enjoy what you create.

Jul 13 10:34 AM

[yellowhoard:]

Teresa,

What makes you think that the elites aren't actively pushing jobs offshore on purpose?

Remember Al Gore walking out of the Bhuddist temple with a bag of cash?

How about Hillary's maximum contributions from minimum wage Chinese dishwashers?

Everything our leaders, of both parties, have done over the last 20 years has been designed to "balance" the world at our expense.

Cap and Trade will be the final nail in our coffin.

Those manufacturers who have been able to cling to a competitive advantage over the last 20 years will be forced to move factories to China and India when their energy costs double over the next few years.

Jul 13 10:47 AM

[Vuke:]

Your comments are somewhat unfair to Obama. He came into office after decades of a blizzard-like growth of phony paper that effectively concealed an underlying decay. That is now unwinding. Expecting a sudden turn around is unrealistic.

It takes just as long to get out of a mess as it took to get into it. Your idea of promotion of small business is the best and most efficient method to lead the way. Without that, to whom will GM sell its cars?

Jul 13 11:13 AM

[nova:]

Obama is a fraud.

I came from Soviet Union (it has gone for good). Back in Soviet Union, people like Obama were all over the place promising "the bright future" under the guidance of "beloved" communist party leadership. These people were either the commie-party paid propagandists or the party elite.

Eventually, the communist lawlessness and corruption, like a malignant cancer, have spread all over the country and killed it. (Ronald Reagan took a credit for the fall of the Soviet Union even his real contribution was minimal.)

Now, Obama (with his Harvard education) is trying to sell us the same shit that killed the Soviet Union. Well, the consequences of Obama administration actions will be similar to the Soviet demise.

Jul 13 11:37 AM

[tkehokie:]

"Part of this goal will be met by helping Americans better afford a college education"

What he is referring to is the college loan "reform" which just went into effect. Under this reform, college loan payments are based on income, not a straight amortization of principal. Okay, that is reasonable. If, however, a borrower has not been able to pay back the entire loan after 25 years (10 years for public servants!!!!!!), the remaining debt is forgiven. This means we taxpayers will be paying the cost of "educating" those students who choose to major in fields which provide them with few useful skills (think Cultural Anthropology, Folklore, Communications, French, Women's Studies, etc.).

Isn't this a bit backward? Shouldn't we be rewarding those who enter useful, employable fields such as science, technology, engineering, and math rather than subsidizing those who are unemployable except to expand bloated government agencies? And this will build "a pillar of a stronger economic foundation"? It's no wonder the U.S. is being left in the dust by China.

Jul 13 11:46 AM

[DuffBeer:]

Dr O How dare you speak ill of Mr Teleprompterman ! You will be attacked as all who question or oppose him. Jimmy Carter is looking better then this civil rights trained attorney. He has always been in somebody's pocket for his money and now he shall enjoy what is left
of ours. I bet many would change that vote if they could. What a great leader slick southside of Chicago politician this guy is.
We need to continue to point out and speak against him. Better yet call for his impeachment before he destroys the entire USA.
Sad Cheers,
DuffBeer

Jul 13 12:19 PM

[Socialism c...:]

Joe McCarthy was RIGHT. Just a bit early. And here we are today, with neo-Marxism completely taking over the country, and a populace that is not only allowing it, but clamoring for it -- punch drunk on the notion of something-for-nothing entitlements! The piper is coming, though, and before long the tune will wear thin. Social upheaval is certain to follow. God save the U.S.!!


On Jul 13 11:37 AM nova wrote:

> Obama is a fraud.
>
> I came from Soviet Union (it has gone for good). Back in Soviet
> Union, people like Obama were all over the place promising "the bright
> future" under the guidance of "beloved" communist party leadership.
> These people were either the commie-party paid propagandists or the
> party elite.
>
> Eventually, the communist lawlessness and corruption, like a malignant
> cancer, have spread all over the country and killed it. (Ronald
> Reagan took a credit for the fall of the Soviet Union even his real
> contribution was minimal.)
>
> Now, Obama (with his Harvard education) is trying to sell us the
> same shit that killed the Soviet Union. Well, the consequences of
> Obama administration actions will be similar to the Soviet demise.

Jul 13 12:26 PM

[Gregman2:]

Why is it that younger foreign born MBA's are preferred to all the many U.S. citizens here that have MBA's? The answer: the former work for less and drive labor costs down. Is Obama getting to the real problem in our system, which is all the excess debt consumers and businesses now carry? Or, is he still captivated by Wall Street banking interests?

Jul 13 12:32 PM

[Manifestor:]

Thanks for posting the article. Your comments on the other hand were both childish and distracting to say the least :-(

Jul 13 01:58 PM

[Hot Richard:]

Well, that was fun! And indulgent. For those of you still defending Obama, don't forget that he was part of Congress, a leader of the Democrat Party, and has an "I (heart) J.M. Keynes" tattoo on his belly. Oh yes, he's got blame coming.

"Lending" has a point of not only diminishing returns, but negative returns. All programs that extend lending past positive returns do nothing but obliterate wealth.

You can argue if we are past that point, but I point to popped bubbles, shrinking economy, and...obliterated wealth as proof.

Jul 13 03:21 PM

[Dr. O:]

>>Your comments are somewhat unfair to Obama. He came into office after decades of a blizzard-like growth of phony paper that effectively concealed an underlying decay. That is now unwinding. Expecting a sudden turn around is unrealistic.<<

I take issue with Obama's policies simply because I believe his policies are wrong and destructive to the economy.

Reagan inherited Carter's stagflation in 1980. His conservative solution? Shrink government and cut taxes. Result? An economic boom.

Obama inherited a banking crisis and world wide slowdown. His liberal solution? Grow government and increase taxes. Result? A stock market crash, capital flight into bonds, the shuttering of businesses, and soaring unemployment.

Jul 13 09:16 PM

[W.E. Heasley:]

Good article.

Surely Chapter 13, of future Economics Textbooks, will be entitled:

Barack Millhouse O’Caretnomics/Thug-o-n... a blue print for economic failure.

Jul 13 09:37 PM