From CBS News.
"...David Axelrod, the president's closest advisor, will move to Chicago next spring.
Axelrod is expected to reassume his role as campaign manager in Mr. Obama's 2012 reelection bid. A potential, if not likely, replacement for Axelrod is current White House Press Secretary Robert Gibbs.
The dominoes don't stop there. Rahm Emanuel, the president's Chief of Staff, may leave the White House as soon as next month."
It looks like Obama will be down to his B-team for the next 2 years.
Thursday, September 23, 2010
Wednesday, September 22, 2010
Obama's Top Economic Advisor Leaving
From the Washington Post. One more rat leaving a sinking ship. The damage has been done, so there's no need for ANY of the economic team to hang around.
"President Obama's top economic adviser, Lawrence H. Summers, will step down as director of the National Economic Council after the November elections and return to a teaching post at Harvard University, the White House announced Tuesday.
The departure of Summers, 55, will complete the turnover of three of Obama's four top economic advisers as the administration struggles with the political fallout of a stubbornly weak economy."
"President Obama's top economic adviser, Lawrence H. Summers, will step down as director of the National Economic Council after the November elections and return to a teaching post at Harvard University, the White House announced Tuesday.
The departure of Summers, 55, will complete the turnover of three of Obama's four top economic advisers as the administration struggles with the political fallout of a stubbornly weak economy."
Tuesday, September 14, 2010
President Boo-Hoo
From Fox News.
"Finally, we know what President Obama’s initials stand for! He’s the Boo –HooO president! OK, that’s a little cheesy, but seriously, have we ever had a whinier leader of the free world? Most recently, and quite ungrammatically (it was not scripted into the First Teleprompter), he whined that his opponents “talk about me like a dog”. This doesn’t even make much sense, but is consistent with the woe-is-me tone of this president, who has complained about attacks from the right and the left, and couched nearly every major address with an extreme whine about taking over the White House during tough times. Just for the record, he did want the presidency, right?"
...
"Most recently he has hit the stump, slipping into campaign mode with the ease of someone putting on worn slippers. He has visited cities hard-hit by the recession, and promised to turn around the economy. With the excitement of a life-long celibate discovering sex, he is focused on job creation – just in time for the elections. He’s all for infrastructure investment and lower taxes on the middle class and developing clean industries. But he is not – repeat NOT –in favor of helping out the “special interests.”
One wonders, who are those “special interests”? Obama never really identifies those blackguards, but he does give clues. In Ohio, Obama chastised those who, over the past decade, “cut regulations for special interests,” and in the same speech derides Representative John Boehner for wanting to “cut more rules for corporations”. It’s pretty clear that it is American corporations who are so undeserving of his assistance."
...
"The truth is that these are hard times. We are in a dreadful recession because public policy encouraged heavy lending to non-credit worthy borrowers in order to fulfill a wrong-headed goal of broadening home ownership. This stupidity was compounded by a reckless use of leverage by those on Wall Street who bundled and bought mortgage securities in ways that made them prone to failure. President Obama is right; there are villains aplenty in the narrative of the past few years, and victims galore. He is wrong, though, to channel his community organizer inner self and turn the country against the business community. Small or large, it is companies that will end our unemployment crisis – not the federal government."
"Finally, we know what President Obama’s initials stand for! He’s the Boo –HooO president! OK, that’s a little cheesy, but seriously, have we ever had a whinier leader of the free world? Most recently, and quite ungrammatically (it was not scripted into the First Teleprompter), he whined that his opponents “talk about me like a dog”. This doesn’t even make much sense, but is consistent with the woe-is-me tone of this president, who has complained about attacks from the right and the left, and couched nearly every major address with an extreme whine about taking over the White House during tough times. Just for the record, he did want the presidency, right?"
...
"Most recently he has hit the stump, slipping into campaign mode with the ease of someone putting on worn slippers. He has visited cities hard-hit by the recession, and promised to turn around the economy. With the excitement of a life-long celibate discovering sex, he is focused on job creation – just in time for the elections. He’s all for infrastructure investment and lower taxes on the middle class and developing clean industries. But he is not – repeat NOT –in favor of helping out the “special interests.”
One wonders, who are those “special interests”? Obama never really identifies those blackguards, but he does give clues. In Ohio, Obama chastised those who, over the past decade, “cut regulations for special interests,” and in the same speech derides Representative John Boehner for wanting to “cut more rules for corporations”. It’s pretty clear that it is American corporations who are so undeserving of his assistance."
...
"The truth is that these are hard times. We are in a dreadful recession because public policy encouraged heavy lending to non-credit worthy borrowers in order to fulfill a wrong-headed goal of broadening home ownership. This stupidity was compounded by a reckless use of leverage by those on Wall Street who bundled and bought mortgage securities in ways that made them prone to failure. President Obama is right; there are villains aplenty in the narrative of the past few years, and victims galore. He is wrong, though, to channel his community organizer inner self and turn the country against the business community. Small or large, it is companies that will end our unemployment crisis – not the federal government."
Friday, September 3, 2010
Wall St. to Obama: The Love Affair's Over
From Daily Finance.
"Corporate profits are booming again but President Obama's popularity is sinking fast. The list of financial and business titans claiming that Democratic policies are impeding the economic recovery and hurting US competitiveness, meanwhile, gets longer by the day.
Of course, much of the business sector has always harped about government interference. But now even high profile investors and executives who were once ardent supporters of President Obama are changing their tune. Investors should take note of the fast-defecting business community, since the upcoming Congressional elections could have a major impact on markets in the intermediate term."
...
"The growing discontent on Wall Street seems to echo that coming from business executives earlier in the summer. Once seen as an Obama ally and a key player in shaping things like energy policy, GE (GE) CEO Jeffrey Immelt lashed out at the President earlier this summer and accused the administration of creating a sour economic climate."
...
"Investors would be wise to put their partisan biases aside and observe the major shifts. It is telling that so much of the criticism seems to be coming from onetime supporters rather than ideologues who perpetually have an axe to grind."
"Corporate profits are booming again but President Obama's popularity is sinking fast. The list of financial and business titans claiming that Democratic policies are impeding the economic recovery and hurting US competitiveness, meanwhile, gets longer by the day.
Of course, much of the business sector has always harped about government interference. But now even high profile investors and executives who were once ardent supporters of President Obama are changing their tune. Investors should take note of the fast-defecting business community, since the upcoming Congressional elections could have a major impact on markets in the intermediate term."
...
"The growing discontent on Wall Street seems to echo that coming from business executives earlier in the summer. Once seen as an Obama ally and a key player in shaping things like energy policy, GE (GE) CEO Jeffrey Immelt lashed out at the President earlier this summer and accused the administration of creating a sour economic climate."
...
"Investors would be wise to put their partisan biases aside and observe the major shifts. It is telling that so much of the criticism seems to be coming from onetime supporters rather than ideologues who perpetually have an axe to grind."
Friday, August 27, 2010
Obama's Dream Car: Government Intervention on Four Wheels
From the Christian Science Monitor.
"If it requires government subsidies to get built, more subsidies to buy, and doesn't actually reduce pollution, what's the benefit of an electric car?"
Good question. One so-called "benefit" is that it would boost demand for a car that ordinarily people wouldn't (or couldn't) buy, feeding into the buy-me-a-cure crowd (his typical constituency) who have more dollars than sense. If everyone had one of these cars, it would theoretically allow us to get off foreign oil (as well as domestic) while lining the pockets of some well-placed portfolios (namely Al Gore's, Nancy Pelosi's, and most assuredly Obama's).
The car itself takes about 11-17 barrels of oil to produce. The batteries in these cars alone cost $3000 and up. We as yet have no infrastructure to plug these puppies in when we're parked. Some benefits!
"In one way it reminds us of the German predecessor: the Volkswagen. A car not produced according to market demand, but for dubious ideological targets. However, the new ‘Voltswagen’, on sale for $41,000, costs, when all subsidies are accounted for, about $81,000. Not only is it worlds apart from the original Volkswagen, but its creation signifies a distorted economy: taxpayers funding a vehicle which can only lead to loss and a shortage. In addition, comes the government subsidy of $7,500 for purchasers of the car, a nice addition for ‘upscale urban liberals’, some of Obama's strongest supporters."
...
"Government intervention stymies market forces. Furthermore, the creation of the ‘Voltswagen’ blatantly derives an ‘is’ from an ‘ought’: there should be electric cars, whether supply is economically feasible or demand is there."
"If it requires government subsidies to get built, more subsidies to buy, and doesn't actually reduce pollution, what's the benefit of an electric car?"
Good question. One so-called "benefit" is that it would boost demand for a car that ordinarily people wouldn't (or couldn't) buy, feeding into the buy-me-a-cure crowd (his typical constituency) who have more dollars than sense. If everyone had one of these cars, it would theoretically allow us to get off foreign oil (as well as domestic) while lining the pockets of some well-placed portfolios (namely Al Gore's, Nancy Pelosi's, and most assuredly Obama's).
The car itself takes about 11-17 barrels of oil to produce. The batteries in these cars alone cost $3000 and up. We as yet have no infrastructure to plug these puppies in when we're parked. Some benefits!
"In one way it reminds us of the German predecessor: the Volkswagen. A car not produced according to market demand, but for dubious ideological targets. However, the new ‘Voltswagen’, on sale for $41,000, costs, when all subsidies are accounted for, about $81,000. Not only is it worlds apart from the original Volkswagen, but its creation signifies a distorted economy: taxpayers funding a vehicle which can only lead to loss and a shortage. In addition, comes the government subsidy of $7,500 for purchasers of the car, a nice addition for ‘upscale urban liberals’, some of Obama's strongest supporters."
...
"Government intervention stymies market forces. Furthermore, the creation of the ‘Voltswagen’ blatantly derives an ‘is’ from an ‘ought’: there should be electric cars, whether supply is economically feasible or demand is there."
Friday, August 20, 2010
Obama's Energy Meltdown
From Politico.
"Despite the president’s endless number of appearances at new energy technology facilities, constant references to creating “green jobs,” countless hours being photographed behind the wheels of battery-powered and other “new age” vehicles and a somewhat shameless effort to argue that the Deepwater Horizon oil spill should be used to justify passage of his energy agenda, we are further from passing a comprehensive energy bill in the U.S. Senate today than at any time in the Obama presidency.
It is hard to remember an issue on which a president armed with the kind of congressional majority Obama enjoys, has been handed such a stunning defeat on what was considered a cornerstone issue of his domestic agenda. While various presidential observers opine about the president’s various leadership strengths and weaknesses, there seems to be a lack of appreciation of the significance of what this setback on energy really means."
...
"Ultimately, Senate Democrats proved themselves to be old school politicians, so when it came to a choice of self-preservation or pleasing their president, they picked themselves. That so many had swallowed their electoral concerns to pass Obamacare certainly contributed to these decisions on energy and cap and trade. However, the fact that the president was allowed to carry the ball on energy to the bitter end before his party repudiated him without providing a more graceful exit strategy, makes this one of the ugliest rejections a president has faced at the hands of his own party in recent memory."
Too many of us are non-believers when it comes to the concept of Utopia.
"Despite the president’s endless number of appearances at new energy technology facilities, constant references to creating “green jobs,” countless hours being photographed behind the wheels of battery-powered and other “new age” vehicles and a somewhat shameless effort to argue that the Deepwater Horizon oil spill should be used to justify passage of his energy agenda, we are further from passing a comprehensive energy bill in the U.S. Senate today than at any time in the Obama presidency.
It is hard to remember an issue on which a president armed with the kind of congressional majority Obama enjoys, has been handed such a stunning defeat on what was considered a cornerstone issue of his domestic agenda. While various presidential observers opine about the president’s various leadership strengths and weaknesses, there seems to be a lack of appreciation of the significance of what this setback on energy really means."
...
"Ultimately, Senate Democrats proved themselves to be old school politicians, so when it came to a choice of self-preservation or pleasing their president, they picked themselves. That so many had swallowed their electoral concerns to pass Obamacare certainly contributed to these decisions on energy and cap and trade. However, the fact that the president was allowed to carry the ball on energy to the bitter end before his party repudiated him without providing a more graceful exit strategy, makes this one of the ugliest rejections a president has faced at the hands of his own party in recent memory."
Too many of us are non-believers when it comes to the concept of Utopia.
Monday, August 16, 2010
The Stunning Decline of Barack Obama
From the UK Telegraph.
"The RealClearPolitics average of polls now has President Obama at over 50 per cent disapproval, a remarkably high figure for a president just 18 months into his first term. Strikingly, the latest USA Today/Gallup survey has the President on just 41 per cent approval, with 53 per cent disapproving."
...
"Growing disillusionment with the Obama administration’s handling of the economy as well as health care and immigration has gone hand in hand with mounting unhappiness with the President’s aloof and imperial style of leadership, and a growing perception that he is out of touch with ordinary Americans, especially at a time of significant economic pain. Barack Obama’s striking absence of natural leadership ability (and blatant lack of experience) has played a big part in undermining his credibility with the US public, with his lacklustre handling of the Gulf oil spill coming under particularly intense fire.
On the national security and foreign policy front, President Obama has not fared any better. His leadership on the war in Afghanistan has been confused and at times lacking in conviction, and seemingly dictated by domestic political priorities rather than military and strategic goals. His overall foreign policy has been an appalling mess, with his flawed strategy of engagement of hostile regimes spectacularly backfiring. And as for the War on Terror, his administration has not even acknowledged it is fighting one.
Can it get any worse for President Obama? Undoubtedly yes. Here are 10 key reasons why the Obama presidency is in serious trouble, and why its prospects are unlikely to improve between now and the November mid-terms."
1. The Obama presidency is out of touch with the American people
2. Most Americans don’t have confidence in the president’s leadership
3. Obama fails to inspire
4. The United States is drowning in debt
5. Obama’s Big Government message is falling flat
6. Obama’s support for socialized health care is a huge political mistake
7. Obama’s handling of the Gulf oil spill has been weak-kneed and indecisive
8. US foreign policy is an embarrassing mess under the Obama administration
9. President Obama is muddled and confused on national security
10. Obama doesn’t believe in American greatness
(see original article for details on each)
"There is a distinctly Titanic-like feel to the Obama presidency and it’s not hard to see why. The most left-wing president in modern American history has tried to force a highly interventionist, government-driven agenda that runs counter to the principles of free enterprise, individual freedom, and limited government that have made the United States the greatest power in the world, and the freest nation on earth."
...
"President Obama is increasingly out of step with the American people, by advancing policies that undermine the United States as a global power, while undercutting America’s deep-seated love for freedom."
"The RealClearPolitics average of polls now has President Obama at over 50 per cent disapproval, a remarkably high figure for a president just 18 months into his first term. Strikingly, the latest USA Today/Gallup survey has the President on just 41 per cent approval, with 53 per cent disapproving."
...
"Growing disillusionment with the Obama administration’s handling of the economy as well as health care and immigration has gone hand in hand with mounting unhappiness with the President’s aloof and imperial style of leadership, and a growing perception that he is out of touch with ordinary Americans, especially at a time of significant economic pain. Barack Obama’s striking absence of natural leadership ability (and blatant lack of experience) has played a big part in undermining his credibility with the US public, with his lacklustre handling of the Gulf oil spill coming under particularly intense fire.
On the national security and foreign policy front, President Obama has not fared any better. His leadership on the war in Afghanistan has been confused and at times lacking in conviction, and seemingly dictated by domestic political priorities rather than military and strategic goals. His overall foreign policy has been an appalling mess, with his flawed strategy of engagement of hostile regimes spectacularly backfiring. And as for the War on Terror, his administration has not even acknowledged it is fighting one.
Can it get any worse for President Obama? Undoubtedly yes. Here are 10 key reasons why the Obama presidency is in serious trouble, and why its prospects are unlikely to improve between now and the November mid-terms."
1. The Obama presidency is out of touch with the American people
2. Most Americans don’t have confidence in the president’s leadership
3. Obama fails to inspire
4. The United States is drowning in debt
5. Obama’s Big Government message is falling flat
6. Obama’s support for socialized health care is a huge political mistake
7. Obama’s handling of the Gulf oil spill has been weak-kneed and indecisive
8. US foreign policy is an embarrassing mess under the Obama administration
9. President Obama is muddled and confused on national security
10. Obama doesn’t believe in American greatness
(see original article for details on each)
"There is a distinctly Titanic-like feel to the Obama presidency and it’s not hard to see why. The most left-wing president in modern American history has tried to force a highly interventionist, government-driven agenda that runs counter to the principles of free enterprise, individual freedom, and limited government that have made the United States the greatest power in the world, and the freest nation on earth."
...
"President Obama is increasingly out of step with the American people, by advancing policies that undermine the United States as a global power, while undercutting America’s deep-seated love for freedom."
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