Friday, February 20, 2009

Is it a failure?

First there is:
“The cost of our debt is one of the fastest growing expenses in the federal budget. This rising debt is a hidden domestic enemy, robbing our cities and states of critical investments in infrastructure like bridges, ports, and levees; robbing our families and our children of critical investments in education and health care reform; robbing our seniors of the retirement and health security they have counted on. . . . If Washington were serious about honest tax relief in this country, we'd see an effort to reduce our national debt by returning to responsible fiscal policies." undated
http://whitehouse.gov /

Than there is:
"Today, I signed the American Recovery and Reinvestment Act into law.
This is a historic step — the first of many as we work together to climb out of this crisis — and I want to thank you for your resolve and your support." 2-17-9
http://trackobama.wordpress.com/2009/02/18/obama-signs-american-recovery-and-reinvestment-act-into-law/
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First there is:

Obama, who inherits a global financial crisis and wars in Iraq and Afghanistan, has vowed to work with Republicans to try to overcome the bitter partisan divisions that have marked Washington-style politics, including the current standoff over proposals to bail out the failing auto industry. - 11-21-8
http://www.reuters.com/article/newsOne/idUSTRE4AK6DW20081121


Then there is:
"Obama preparing to work around Republican obstructionism, aides say" 2-18-09
http://www.nwprogressive.org/weblog/2009/02/obama-preparing-to-work-around.html

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First there is:
To reduce bills rushed through Congress and to the president before the public has the opportunity to review them, Obama "will not sign any non-emergency bill without giving the American public an opportunity to review and comment on the White House website for five days." 2-4-9
http://www.politifact.com/truth-o-meter/promises/promise/234/allow-five-days-of-public-comment-before-signing-b/

Then there is:
"When President Obama signed his first bill without posting it to the Web for five days of public comment, we gave him his first Promise Broken." 2-4-9 (Emphasis added)
http://www.politifact.com/truth-o-meter/promises/promise/234/allow-five-days-of-public-comment-before-signing-b/
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First there is:

"Reform the Political Appointee Process: FEMA Director Michael Brown was not qualified to head the agency, and the result was a disaster for the people of the Gulf Coast. But in an Obama-Biden administration, every official will have to rise to the standard of proven excellence in the agency's mission." undated
http://www.barackobama.com/issues/ethics/

Then there is:
Tax time is right around the corner and I vote we follow the lead of President Barack Obama's Cabinet picks and avoid paying our taxes. I'm truly disgusted at how Timothy Geitner and Tom Daschle avoided paying taxes and Obama stood behind these men with "absolute support," even though Daschle removed himself from consideration for the job of health-care czar on Tuesday. 2-9-09 http://mycentraljersey.com/article/20090209/OPINION02/902090301/1061
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So...
These days, politics are more a market driver than stock fundamentals; well... that's not completely rite... current politics ARE the stock fundamentals. This condition opens up a significant level of fear into the market. The result naturally is: eliminate risk... sell!

Compound that with the increasing losses observed daily (its mostly a confirmed bear market) many many people just want to get out. Even Warren Buffet, a huge liberal supporter, whose corporate value is now at an all-time low, (ticker: BRK/A) has sold out a lot of stocks and moved to fixed investments.

In comparing the new guy's words with his results (only a few of the ouchies listed above), one is now in a position to judge for themselves whether the administration is a flaming failure or not, whether America has been deceived or not. From there, one might consider the implications on the next three years and eleven months. Will business be in an environment suitable for the creation of earnings?

Party on!

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