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Storm clouds loom over Obamaland

By
July 14, 2009

President Barack Obama’s rosy facade is cracking under the harsh light of reality as the young, inexperienced President’s optimism faces an increasing storm of record deficits, economic morass and failed promises.

Obama’s hope for a quick resolution on health care remains on life support while the sins of past President George W. Bush take center stage amid new revelations of expanding spy programs and CIA lies to Congress.

New polls show more erosion in Obama’s once sky-high approval ratings as more and more Americans question his ability to deal with the many daunting problems that face the nation.

Reports Politico:

President Barack Obama’s economic forecasts for long-term growth are too optimistic, many economists warn, a miscalculation that would mean budget deficits will be much higher than the administration is now acknowledging.

The White House will be forced to confront the disconnect between its original, upbeat predictions and the mainstream consensus about how the economy is likely to perform in a new budget forecast to be unveiled next month.

Christina Romer, chairwoman of the White House’s Council of Economic Advisers, said in a POLITICO interview that the administration — like many independent economists — did not fully anticipate the severity and pace of this recession. She said the White House will be updating its official forecasts.

The new numbers will come as part of a semiannual review that, under ordinary circumstances, is the kind of earnest-but-dull document that causes many Washington eyes to glaze over.

This time, however, the new forecasts — if they are anything like what many outside economists expect — could send a jolt through Capitol Hill, where even the administration’s current debt projections already are prompting deep concerns on political and substantive grounds.

 On the health care front, polls show Americans want the system overhauled but they are skeptical of Obama’s plans because of the high cost.

Reports USA Today:

Most Americans say it’s important to overhaul health care this year, a USA TODAY/Gallup Poll finds, but they are less enthusiastic about some of the proposals to pay for it.

And while a majority say controlling costs should be the legislation’s top goal, more than nine in 10 oppose limits on getting whatever tests or treatments they and their doctors think are necessary.

The findings underscore the difficult path ahead for the White House and Congress as the health care debate enters crunch time. President Obama, who has called for the House and Senate to pass bills before their August recess, met Monday with two key congressional chairmen to try to hammer out financing for the $1 trillion-plus legislation.

Some are way of Obama’s lack of specifics in his health care proposals. Reports The Los Angeles Times:

The president’s decision not to spell out what he wants can be frustrating for rank-and-file members of Congress, said Chris Jennings, a senior healthcare advisor in the Clinton administration who also worked on Capitol Hill for 10 years. "There is always pressure to get more involved." But Jennings and other veterans of past healthcare battles said choosing sides too early can be risky.

"The president can only be used so many times," said Harold M. Ickes, who was a senior aide to Clinton. "And they [the White House] have to be careful so that when he really lays down the law, or tries to break a deadlock on any particular issue, that it’s done at the right time. Otherwise, he runs the risk of looking impotent."

In addition to divisions among Democrats — and near-solid opposition among Republicans — many leading interest groups that have supported the overhaul have begun voicing concerns.

"We know this is the first inning of a nine-inning game," said Michelle Dimarob, a lobbyist for the National Federation of Independent Business, which helped derail the Clinton administration’s push for a healthcare overhaul. "But we have not seen the things that small businesses need to see."

The bottom line: Americans, Republicans and even members of Obama’s own party are tired of the rhetoric. They want specifics, not rosy scenarios. They want action, not grandiose promises. The honeymoon is over. Reality has set in.

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10 Responses to Storm clouds loom over Obamaland

  1. remoran

    July 14, 2009 at 5:33 pm

    “Never stop questioning.” Einstein

    The time to tell the truth is nigh. Obama lacks the courage to tell America happy driving days are over. Consider the electric car. Even if a 100 million of these were built in the next month, the electric grid could never supply enough energy to keep these vehicles on the road unless they were so efficient as to defy state-of-the art technology as it exists today. Obama had his chance in the first month of his administration to really make change happen. What he did instead was to hire the bozos who created the economic disaster we are now facing. We are in desparate trouble that requires the kind of change that can get one killed.

    Things Obama should have done:

    1. Abolish the Fed. It is a private cartel protected by government run by bankers (GS) for bankers. (An act of Congress can do the deed without a problem.)

    2. No TARP money. Sweden let their banks die when they had a crisis and their economy rebounded in quick fashion. Why should we the taxpayer pick up the tab for criminal investments.

    3. Let the banks die. Protect depositors, screw investors. They bet on bad investments and lost.

    4. Restore Glass-Stegall.

    5. Criminal indictments on the Banksters

    6. Criminal indictments on the BA

    7. Cut defense spending

    8. Single payer healthcare, period. Insurance companies, like CC companies are tied into central banking. Any questions?

    9. Get out of Iraq and Afghanistan. Why are we there?

    Also, I am sick and tired of hearing the words young and inexperienced as a way to explain why Obama has done nothing but cave in to the banksters that run this country. That’s crap! Common sense and intelligence combined with a little bit of research will tell anyone what’s wrong with this country’s finances. I learned how money is created in this nation and it’s not rocket science.

    Factoid: We are past peak oil. It will never drive the economy again. Why? The world consumes 84 million barrels of oil per day. Iraq has 116 billion proven reservers. In 12 days, the world consumes 1 billion barrels of oil. Ergo. Iraq can supply the entire world’s thirst for oil for approximately 3.16 years if consumption does not increase. (12 X 96.7 = 1160 days (3.18 years) or 116 billion barrels of oil. Because oil reserves are in decline, the economy must depend on new resources to survive. Obama’s current course is nonsensical because cheap energy in the quise of oil will never return to the “good old days”.

    If Obama’s to save his administration, he has to take charge and kick ass, qualities I don’t see at this point in time. We are on the brink of failure and violence as we slide into depression and despair, not a good place to be in when Global Warming is factored into the equation.

    Great presidents lead. Right now, I put Obama in with Woodrow Wilson, the ineffective intellectual who abdicated this country’s right to manage it’s money (the Fed, 1913, The IRS, 1912), an act he considered to be the worst thing he ever did as president.

    Great article BTW.

  2. AustinRanter

    July 14, 2009 at 3:58 pm

    REMORAN…bravo!

    I really dig your post. It addresses all of the issues that should have been on the front burner for Obama. These issues are so obviously serious to those Americans who have the intellect and concern for our nation’s welfare.

    Unfortunately, Washington has a much more profound allegiance to interest outside of the American welfare.

    Obama’s compaign promises were no more relevant than any other politician’s promises…since the raising of the first flag of our orignial 13 United States.

    He sold America with a promise about making bad political promises good.

    Now…well, those of us who understand the complexities and the overwhelming severity of our broken system of government and the election process see the “greater population” fall back into the fetal position, sucking their thumbs, hoping for a new savior to come along who will make a more spectacular and grandiose promises to cling to. Those who are more acutely aware stand by in small numbers…feeling an enormous sense of awe and powerlessness.

    Meanwhile, back in Washington the resounding mantra that repeats itself in the back of the minds of every politician, “We can do anything we want, and the American people won’t do a damn thing about it”…this quote is compliments of SlippedMickey in RR. Thanks Mick.

    We all know that Mick isn’t the only one to make that comment, many have…but not enough across our nation to rise up and say, “enough is enough”.

    When it hurts bad enough and long enough, will it be to late for American voters to make a stand and dissent to the behaviors of our Corp/Government. Will we be able to collectively “go to any length” to restore We The People’s voice?

  3. Carl Nemo

    July 14, 2009 at 6:34 pm

    Thanks Remoran for one of the best, spot-on posts that I’ve read in quite some time concerning prescription medicine for this once great nation; ie., if it is to survive?

    Your comments on peak oil should be a heads up to our CHB readership. In 12 years or less years it’s going to be a dog eat dog environment as to who gets first “dibs” on the remaining oil reserves available in world markets.

    With the value of the U.S. dollar imploding due to the our counterfeiting leadership; I suspect oil will be in the $15o plus bbl range on a regular basis with gas in the U.S. sitting at $8.00 plus at the pumps.

    So don’t get lured into buying some glitzy gashog courtesy of our failing to recently reorganized auto industry. They will not be a bargain at any price…!

    I’ve been taking a self-imposed vacation from CHB, but your post piqued my interest and thought I needed to come aboard and make comment. : )

    I dropped four Douglas fir this AM, about 24-32 inches at the butt, all about 60 feet tall, limbed and bucked them to sixteen inches; followed by splitting the wood for the upcoming winter. I started at 5am. It’s now 230pm PST.

    It’s labor like this that makes one realize the value of “sweat” equity in a buck or an ounce of gold against the resultant superciliousnes of Obama & Co and those before him in recent memory concerning national monetary policies among many other issues… /:|

    Carl Nemo **==

    p.s. Thanks Doug Thompson for hopefully the first of many “storm cloud” articles concerning Obama & Co.

  4. griff

    July 14, 2009 at 6:29 pm

    Excellent summation. But I can’t agree with your peak oil “factoid”. It is not fact. There are untapped reserves all over the planet, including billions of barrels in this country alone.

    That’s not to say that we need to seek out alternative energy sources, but we don’t have the technology right now. Conservation is important, of course, but the urgency of “peak oil” is another scare tactic they use so we run to them for any and every wild-ass scheme they come up with. At our expense, of course.

  5. ekaton

    July 16, 2009 at 2:04 pm

    Concise and accurate. I have nothing to add, except, DOUG — please return this thread to the main page, as these issues are crucial and must be out front for all to ponder.

    Thanks again to R.E.Moran!!

    Kent Shaw

  6. hologram5

    July 14, 2009 at 4:52 pm

    @REMORAN:
    You hit it right on the nose, only there isn’t one man in the sentate, house or anywhere else with the cojones to actually do that. They will constantly cave to lobbyists because humans are weak and greedy. It is nature even though it loathes me to say it. Everybody has a price. Everybody. No exceptions. Unfortunately we need to get beyond the money thing to make it work and I don’t think we can do it. I have faith in humanity, don’t get me wrong, but I do think we are far too immature to handle this correctly.

    To Boldly Go…
    Anywhere there is sanity…

  7. oceanika

    July 14, 2009 at 8:56 pm

    Yes, great post Remoran.

    The time to strike was in the first month after the inauguration, when hope was up and anger at the criminal financial institutions was high. Too much time is being squandered by trying to build consensus. Too much was given away trying to be bi-partisan. Now dissention among the Ds is mounting – I believe the saying is “Snatching Defeat from the jaws of Victory.”

    Too much “religion” pervades the political discourse; the religion of mythological “free enterprise capitalism.” Capitalism, corporatism, globalization are amoral concepts and there is nothing “free or fair” about them. We cage lions and tigers for our safety and the same should be the case for other amoral predators (i.e., banks, insurance companies and other corporate entities that would do us harm).

    If only half your recommendations were adopted we’d be a long way to restoring the national health, wealth and good sense that has been thrown away since the days of “Saint Ronnny” the PR master (and mediocre president).

    I am glad to see you opt for single payer healthcare. See the following:

    Former CIGNA exec says Michael Moore’s “Sicko” was right, health care is better in other countries and the health insurance industry is actively trying to use scare tactics to deceive the public.

    http://themoderatevoice.com/38938/former-cigna-exec-on-secret-plan-to-discredit-sicko-universal-healthcare/

  8. Carl Nemo

    July 14, 2009 at 7:19 pm

    Hi Griff,

    Peak, easy oil is a soon to be reality…! Rest assured that the multi-billionaire mattoids that control this planet could care less about providing continual cheap energy by developing known technology for stripping the billions of barrels that remain in the earth’s crust.

    Just visualize for yourself. You are a corrupt, mega billionaire with both “hot” and cold running maids on your estate along with other minions, living possibly somewhere in Switzerland or some other sybaritic enclave nation that the unwashed masses never frequent.

    You read the headlines of the gas lines and the accompanied violence due to shortages. You’ve long since cashed in your soul for the pleasures of the here and now. You haven’t been at the wheel of a vehicle in years; if ever, since you have chauffeurs to transport you about etc.

    You have absolutely no incentive, kinship or need to provide cheaper oil and its derivatives for an over supply of planetary consumers… /:|

    Carl Nemo **==

  9. woody188

    July 14, 2009 at 11:54 pm

    I’m with griff on this one. Peak oil isn’t here and won’t be for some time yet. Just another scam to justify the bank inflated price per barrel.

    *~*~*~*~*~*~*~*~*~*~*~*~*~*
    R U Main Core?

  10. remoran

    July 14, 2009 at 8:15 pm

    “Never stop questioning.” Einstein

    Thank you guys. I really appreciate your comments. It’s good for the soul. :) All of your posts really reinforce the fact we are in trouble and no one is taking the tough stand necessary to save our once great nation. As to the oil equation, go to http://www.theoildrum.com to get a heads up from folks who follow the market. It’s a very dire picture to say the least.

    Take care.

    Bob Moran

    PS. If you want to see more craziness, go to http://www.beyondrealtime.com to see, as Doug would say, rants on how tech impacts our society.