Thanks to WaPO for getting its editorializing up front in this headline, Obama’s New Tack: Blaming Bush
Over the past month, Obama has reminded the public at every turn that he is facing problems “inherited” from the Bush administration, using increasingly bracing language to describe the challenges his administration is up against. The “deepening economic crisis” that the president described six days after taking office became “a big mess” in remarks this month to graduating police cadets in Columbus, Ohio.
“By any measure,” he said during a March 4 event calling for government-contracting reform, “my administration has inherited a fiscal disaster.”
Its not a matter of blaming Bush, but of pointing out where the responsibility for the nation’s economic troubles originated. One an hardly blame Obama for reiterating the obvious. Limbaugh, Hannity, Malkin, O’Reilly, The National Review and the American Enterprise Institute have suddenly emerged from their bunkers and realized that gee wiz the national debt is awfully darn high – how did that happen, who’s going to pay for the last eight ears of borrow and spend Conservatism. Republicans, who for six of the last eight years were responsible for 60% plus of the earmarks in the federal budget have suddenly declared earmarks an eight letter word. Obama’s continued high approval ratings show that the public is being remarkably patient. This may explain the shrill heights of Conservative hypocrisy when they have the gall to complain about the debt left for their children. They didn’t care about that debt when they were writing the checks on the backs of working class Americans.
While not a big Lawrence Summers fan he does a good job of fielding some Q&A over at McClatchy
“On a global basis, $50 trillion in wealth has been erased over the last 18 months. This includes $7 trillion in the U.S. stock market and $6 trillion in housing wealth,” Summers said, adding that greed has given way to fear.
“This is the paradox at the heart of the financial crisis,” he continued, noting that it “was this transition from an excess of greed to an excess of fear that President (Franklin) Roosevelt had in mind when he famously observed that the only thing we had to fear was fear itself. It is this transition that has happened in the United States today.”
Summers also said that after plummeting during the holiday season, consumer spending appears to have stabilized, which he said was “modestly encouraging.”
That wealth was disappearing from the economy for over two years before Obama took office, yet haven’t seen a single winger with a sign that says they apologize for voting for the people that made the monetary and regulatory decisions that lead to that loss of wealth. One should not be surprised or disappointed to find that Republicans have and will continue to lie and shirk their responsibility. They lied for fifty years to get power, lied to keep it and if they stop lying about their record they will remain a marginal, if irritating force in American politics. Blame shifting is their only viable option. Besides the irony of the crony socialists calling the president who is trying to save American free market capitalism, a socialist. Summers also defends Treasury Secretary Timothy Geithner,
A: I think that Secretary Geithner has handled this in a difficult and courageous way. The easy thing to do would be . . . to lay out a nine-point plan with illusion of specificity and the sense of certainty about what the future would bring. It’s so easy that we saw half a dozen of them from the previous administration; it’s just that they were different each month. The right approach, the approach that Secretary Geithner has taken, is an approach that lays out a framework, that, unlike so much of the commentary, actually recognizes the enormous complexities of the problem and the balances that need to be stuck.
I can understand the Wall Street Journal – who share some responsibility in being dishonest to the point of negligence in their financial news coverage during the Bush years, but I do not understand why some liberals of all people would deride Geithner’s honesty. Bush promised economic growth, job growth, declared victory when their was none, said the air was getting cleaner as it got dirtier, said he would punish those that had anything to do with outing a CIA agent. In other words if Bush was making a promise, he was lying. Now Geithner comes along and refuses to be backed into a corner where he makes Bush-like crystal ball predictions and refuses to do that. He cannot know the exact twist or turn the economy might make, he can only do what he is doing, planning for multiple contingencies. Where is the Republican plan. They have all the answers – well you can read what answers they have on a tea party protest sign. Where are the numbers, the steps, the grand plan of the grand old party – not to be found. Ankle biting is not a plan, Republicans Split on Need to Offer Rival for Budget
Congressional Republicans are engaged in a highly coordinated political assault on President Obama’s budget, but they are not so united when it comes to offering an alternative to the spending plan they have been shredding as irresponsible.
Breaking with the House, Senate Republicans say they do not intend to offer a full counterproposal to Mr. Obama’s sweeping $3.6 trillion spending blueprint, a decision that will spare them from outlining potentially painful decisions required to bring federal books more in line with their call to hold down spending, cut taxes and reduce the deficit.
Courage is not a hallmark of the new remodeled Republican party.