Relevant and even prescient commentary on news, politics and the economy.

A reminder from Obama’s February 2009 speech

By: Daniel Becker

In answer to the generic question regarding President Obama’s actions regarding the debt ceiling, I am re-posting this from 2/25/09.  In comments of the original I stated that cutting the deficit by 1/2 seemed to “optimistic” for me.
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Ok, here are my basic issues with the substance of President Obama’s speech. First, may I remind everyone
that as of 11/08 I declared my divorce successful. Has it become my mission accomplish moment?

I heard this:

“And we will expand our commitment to charter schools. but as a father when I say that responsibility for our children’s education must begin at home.”

And thought: 2 tier education system/vouchers, no thank you. Education begins at home when home means one parent has the time to spend at home oppose to both working.

I heard this:

“And we must also begin a conversation on how to do the same for Social Security, while creating tax-free universal savings accounts for all Americans.”

And thought: Are you freak’n kidding me! In this time of financial collapse we’re still going to talk about turning an insurance for the masses against the follies of finance into some form to include finance? The entire reason we want to create jobs is because we have suddenly realized that the vast, vast majority do not earn their money from money. Tax free? Has he not heard of 401K, IRA and all it’s versions, HSA, higher education accounts? Italy?

I heard this:

“Yesterday, I held a fiscal summit where I pledged to cut the deficit in half by the end of my first term in office.”

And thought: Yeah, how’d that work for the last administration who made such a declaration? Did he have to say “in half”? Has his advisors not taught him about the blip during the FDR recovery? Only one way I can think of doing this: Raise taxes where the money is and whack the defense budget in half and I mean take a swipe at all moneys related to security. Are we really $1 trillion dollars worth of paranoid?

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Barack Obama = Lot

I won’t post it here—the full text would be so NSFW that Lee Papa might hesitate—but here’s the outline:

UPDATE: I was correct about Mr. Papa’s likely reaction being more moderate, but he’s more lucid that Ezra (or Greg Sargent) has been so far today. Of course, “more lucid than people employed by the Washington Post who are not Michael Dirda” is not something that attracts readers, so I’ll just say: go read. And then program “Bachmann-Perry Overdrive” into your Word Macros, since it will be Very Useful.

Barack Obama has a private talk with his daughters, in which he explains that Mitch McConnell made some demands, but he Nobly and Gloriously Reached a Compromise. He explains the deal to his daughters and how he Really Worked in Their Best Interests.

Those who have read their Bibles are referred to the first half of Genesis 19. Those who don’t want to think about it are referred to Buce, who is (as with Mark Thoma and Brad DeLong) nicer than I am.

Side note: Anyone who thinks Ezra Klein is anything but a tool of Fred Hiatt is referred to his multiple cheerings of a deal that cuts growth (h/t lauren in comments at Mark Thoma’s place, who is apparently an Internet Explorer user).

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