Wasn't That A Lovely Speech

Yesterday (February 27) I attended a meeting with a group of men who either own or work for small businesses. As soon as we sat down the conversation turned to President Obama's address to Congress and his proposed budget. Everyone expressed their amazement as to the audacity of the President's tax and spending plans. Everyone expressed concern not only for themselves but for the country because of what they viewed as bad policies and the future debt those policies would create. After everyone had their say one man said that after the President's address to Congress his mother-in-law called his wife and said "Wasn't that a lovely speech." Apparently she like a lot of people is still more focused on Obama's rhetoric than the implications of his policies.

Later that day I talked to a lady who can best be described as being among the working poor. She is a strong Obama supporter and apparently does not have access to a lot of news outlets. She asked me "When will I get my stimulus check and how much will it be?" I told her it is supposed to come on April 1 (an appropriate day for the Obama program) and that it would amount to about $6.50 a week extra for her. She was not impressed. She was even less impressed when I told her that the plan included about $8 billion for a railroad from Disney Land to Las Vegas. She seemed upset that her hero was letting her down and that the hoped for Stimulus Plan had the wrong priorities.

After just five weeks of the Obama Administration the country is sharply divided in two parts. One one side there are those who are caught in the President's "lovely speeches" and those counting on him to provide many benefits for them. On the other side there are those who fear for themselves and the country as Obama's goals become more clear. This is going to be a struggle of epic proportions that is going to take many twists and turns. This is no time to be on the sidelines.

Rick Santelli Is Invited To The White House

Rick Santelli, the CNBC reporter who we described in yesterday's blog, has just been invited to the White House to discuss the President's mortgage bailout policies. Santelli, who attacked those policies and had a crowd of traders cheer him during his broadcast, has become an overnight rock star. People are sending in emails advocating "Santelli For President-2012" and a "Chicago Tea Party." Meanwhile, some liberal journalists are attacking him for "being against the poor." The truth is that if Obama's policies are completely carried out we will all be poor.

The White House is obviously shaken by the response to Santelli's comments and has invited him for coffee. Santelli has responded that he will be glad to go and discuss the economy with the President, but he does plan to bring a tea bag rather than have coffee. You gotta love this guy. Go to the CNBC website to see what is happening.

One person can make a difference.

The Voice of Revolution

Today (February 19) there is a lot of coverage of a CNBC reporter Rick Santelli on a trading floor in Chicago emotionally describing what a bad plan President Obama has for bailing out those who have stopped paying for their subprime mortgages. As he is talking there is a spontaneous outburst of applause and support for his comments from the traders on the floor. As Santelli continues to criticize Obama's economic policies and compare them to Cuba's his CNBC colleagues are amazed by the positive response he is getting from the people on the floor. Finally, Santelli recommends that capitalists hold a new Boston Tea Party at Lake Michigan in Chicago this July in protest over what is happening.

During the time I lived in Chicago I visited the trading floors of a number of financial exchanges. I must admit I never viewed them as hotbeds of revolution. However, Mr. Santelli has hit a nerve (I wonder how long he keeps his job at CNBC?) and apparently he is expressing the thoughts of a lot of people. When Obama signed the "Stimulus" bill in Denver there were a many protesters outside dressed as pigs to protest the pork in the bill. When he spoke the next day at a high school in Arizona a number of students voiced their disapproval of his policies.

Who knows maybe we can all go to Chicago on July 4th and dump our 1040s into Lake Michigan?

Obama is Resembling a Republican President and it's not Abraham Lincoln

President Obama has made a big point of identifying with Abraham Lincoln and has frequently cited him as his model. However, after just two weeks in office President Obama and those around him resemble the administration of another Republican President--Warren G.Harding. Elected in 1920, Harding was a little known Senator from the mid-west who had a thin resume but who looked and sounded good. Instead of running on "Change" he ran on a platform of "a return to normalcy" which was very appealing after World War II. During Harding's time in office his administration had a number of scandals caused in great part by some of his corrupt cabinet officials and close friends. While Lincoln is regarded as one of our greatest, if not the greatest President, Harding is considered one of our worst.

Obama has claimed that his administration would have the highest ethical standards and not allow lobbyists to have access, but his appointments have undercut these promises. His first choice for Secretary of Commerce had to be dropped because of an investigation into possible corrupt actions on his part, the new Secretary of Treasury Timothy Geitner failed to pay taxes for four years, the choice for the Secretary of HHS, Tom Daschle, had to withdraw for failing to pay over $100,000 in taxes and the person who was going to be in charge of streamlining the government also withdrew because of not paying all her taxes. In addition, a number of other senior officials have backgrounds as lobbyists.

Apparently more issues will soon be surfacing about the type of people Obama is appointing. His choice for Secretary of Labor has conflict of interest problems and his choice to be the second highest official at the Department of Justice has been a strong defender of the pornography industry. Somehow I think Honest Abe would not approve.