Wednesday, January 26, 2011
That awful speech
Okay, let's talk the economy. First, note these headlines:
TheStreet.com - - 13 minutes ago
Pointing to the high unemployment rate and low levels of underlying inflation, the Federal Open Market Committee ...
The Fed Decision: It's All about Unemployment! BloggingStocks (blog)
Fed Votes To Continue Bond Buys As Economy Improves Wall Street Journal
FOMC maintains ZIRP in unanimous vote Housing Wire
For those not sure, the above does not make for good headlines the day after a State of the Union address.
The State of the Union? I read it today. I couldn't take listening or watching because I don't enjoy shouting "LIAR!" at the TV. I first discovered my aversion to that when Ronald Reagan was president. I do remember Richard Nixon as president; however, I was in middle and high school for most of his presidency and didn't rush to the TV to catch his addresses.
I was so sure, in January 2008, I listened to Bully Boy Bush blather on that, come next January, I wouldn't have this problem anymore. I was such a fool. We got another term of Bush. And we're all suffering for it.
It was cute the way he ignored issues that mattered.
If you've been in a coma for the last five years and just woke up, we have a housing crisis in this country, specifically people losing their homes as a result of predatory lending practices. And where is their relief?
Supposedly, the TARP program (which Barack strong-armed the House into going along with -- don't say, "Bush's plan!" -- Barack strong-armed the House into going along with it, it is on him) and the other bailouts after Barack was sworn in were supposed to make the economy better and protect families.
But that hasn't happened.
And families continue to lose their homes.
Having worked non-stop for Wall Street during his first two years as president, I foolishly thought he might have something for Main Street. I was very, very wrong.
If you were unemployed in 2010, or feared you would be, you twice had a scary experience and Barack didn't address that either. Remember unemployment benefits running out? People had been on them and could not find jobs and the Congress was slow to act on this.
Where in Barack's speech did he address this?
Pretend you're an unemployed father of two. Maybe your wife works, maybe she doesn't. Now pretend you're an unemployed single woman with no one -- no family, no one -- to bail you out if you go under. Go through a list of people.
And now picture learning that if Congress doesn't vote to extend benefits, you may not only be jobless but you will have no money at all coming in.
You better believe that would be your highest priority.
No surprise, it didn't even make Barack's list.
It was an awful State of the Union speech.
This is C.I.'s "Iraq snapshot" for Wednesday: