by Mark Silva
"Because of what we did,'' President Barack Obama says today, things will get better. He says so, repeatedly.
So this is as good a time as any to ask if the president's good speechwriting is getting in the way of good policy.
In the weekly radio and Internet address which Obama delivers today - one month-plus into the new presidency, we have grown accustomed to a new brand of communication that involves not only a weekly radio communiqué, but also the president himself, appearing in person, via the video wonder of broadband service - the president states, no fewer than six times in today's radio and online address, that, "because of what we did,'' things will get better.
Yet in the past two weeks alone, there is an argument to be made that, because of what the administration has not done -- not adequately explainiing how all of its economic rescue efforts will really work -- financial markets have slid into even worse shape than they stood a month before for lack of confidence that what needs being done is actually getting done.
First there was the economic stimulus act, a $787-billion spending-spree and tax-cutting act promising 3.5 million jobs, and then there was the administration's new commitment to carrying out financial market reforms and then there was a plan to offer relief for up to 9 million homeowners who are either at risk of mortgage foreclosure or are sinking beneath "underwater'' loans, and then, this week, the stock market plunged to a new, six-year low.
So this is as good a day as any to wonder about the rhetoric of the speechwriters, while marveling at the well-turned words and new-media appeal of the new president, also questioning the longer-term impact of the power of words to make anything better, and where all this is heading now - because or not "because of what we did.''
See the president's weekly address below:
"Earlier this week, I signed into law the American Recovery and Reinvestment Act - the most sweeping economic recovery plan in history. Because of this plan, three and a half million Americans will now go to work doing the work that America needs done.
I am grateful to the Congress, governors and mayors across the country and to all of you, whose support made this critical step possible.
Because of what we did together, there will now be shovels in the ground, cranes in the air, and workers rebuilding our crumbling roads and bridges, and repairing our faulty levees and dams.
Because of what we did, companies - large and small - that produce renewable energy can now apply for loan guarantees and tax credits and find ways to grow, instead of laying people off; and families can lower their energy bills by weatherizing their homes.
Because of what we did, our children can now graduate from 21st century schools and millions more can do what was unaffordable just last week - and get their college degree.
Because of what we did, lives will be saved and health costs will be cut with new computerized medical records.
Because of what we did, there will now be police on the beat, firefighters on the job, and teachers preparing lesson plans who thought they would not be able to continue pursuing their critical missions. And ensure that all of this is done with an unprecedented level of transparency and accountability, I have assigned a team of managers to make sure that precious tax dollars are invested wisely and well.
Because of what we did, 95% of all working families will get a tax cut - in keeping with a promise I made on the campaign. And I'm pleased to announce that this morning, the Treasury Department began directing employers to reduce the amount of taxes withheld from paychecks - meaning that by April 1st, a typical family will begin taking home at least $65 more every month. Never before in our history has a tax cut taken effect faster or gone to so many hardworking Americans.
But as important as it was that I was able to sign this plan into law, it is only a first step on the road to economic recovery. And we cannot fail to complete the journey. That will require stemming the spread of foreclosures and falling home values, and doing all we can to help responsible homeowners stay in their homes, which is exactly what the housing plan I announced last week will help us do.
It will require stabilizing and repairing our banking system, and getting credit flowing again to families and businesses. It will require reforming the broken regulatory system that made this crisis possible and recognizing that it's only by setting and enforcing 21st century rules of the road that we can build a thriving economy.
And it will require doing all we can to get exploding deficits under control as our economy begins to recover. That work begins on Monday, when I will convene a fiscal summit of independent experts and unions, advocacy groups and members of Congress to discuss how we can cut the trillion-dollar deficit that we've inherited. On Tuesday, I will speak to the nation about our urgent national priorities, and on Thursday, I'll release a budget that's sober in its assessments, honest in its accounting, and lays out in detail my strategy for investing in what we need, cutting what we don't, and restoring fiscal discipline.
No single piece of this broad economic recovery can, by itself, meet the demands that have been placed on us. We can't help people find work or pay their bills unless we unlock credit for families and businesses. We can't solve our housing crisis unless we help people find work so they can make payments on their homes. We can't produce shared prosperity without firm rules of the road and we can't generate sustained growth without getting our deficits under control. In short, we cannot successfully address any of our problems without addressing them all. And that is exactly what the strategy we are pursuing is designed to do.
None of this will be easy. The road ahead will be long and full of hazards. But I'm confident that we, as a people, have the strength and wisdom to carry out this strategy and overcome this crisis. And if we do, our economy - and our country - will be better and stronger for it.
Thank you.''
Comments
I just can't understand why after a whole month Obama has not been able to turn the republicans mess into the garden of Eden. Wise old Wall street, who was quick to see the disaster of the housing crisis coming and divert disaster just can't see how this plan will help. We should have elected McCain because his fundamentals of the economy were strong. So let it be said....so let it be written.
Posted by: bill r. | February 21, 2009 8:13 AM
Yea well, socialism and capitalism don't mix well you know. I think it would be good to put up a response to the weekly address from the American people.
Anybody know what Beavis and Butthead are doing these days?
Are they looking for work?
Posted by: Rob | February 21, 2009 8:38 AM
Wait a minute...hold on here...is that two bottles of water on the table? Does he really need two bottle of water in these tough economic times?
hehe
Posted by: Rob | February 21, 2009 8:43 AM
Mark, I am impressed with the objectiveness of your words. Well done! Americans have serious reservations about Obama's economic policies. There seems to be a new plan every other day or a bailout per week, always short on specifics, as we continue to slide downward and Obama speaks of doom and gloom in his daily appearances. There is a lack of clarity and confidence in this willy-nilly tossing of borrowed dollars in this haphazard stimulus legislation (example: who has confidence in legislation not read and debated in a few hours). Obama's job numbers created or so-called saved do not add up to reality. The housing bailout was tried to the tune of 300B last summer and failed, so here we are again. Same MO with Detroit. The banks are broke, needing at least 2 trillion more, and turbo tax Tim waffles. For Obama to talk of a grand future; what about the massive debt that has to be repaid or the new entitlement obligations in the stimulus? Where is the money? Any rational and responsible individual cannot conceive of a personal budget that succeeds based on one our government portrays. This is a house of cards and most (excepting the nanny obamamanics) know they always fall down. Enough said, except Bush is gone and that lane excuse is fading fast (of course lefties never hold Congress responsible).
Posted by: Bubba Porter | February 21, 2009 8:48 AM
Hey billy r, have you seen the small print dimulus disclaimer about the project stimulus goals on the Obama transparency site. Reads like an insurance policy listing what is not covered...almost everything.
Posted by: Bubba Porter | February 21, 2009 8:59 AM
Obama himself is the one scaring the markets with all the apocolyptic rhetoric-
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For a guy who was basking in the triumph of "Hope Over Fear" just 3 weeks ago, his recent calculated and specious fear-mongering is irresponsible, unhelpful, and appalling.-
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One of the drivers of our economic mood is what the president is saying- so if he badmouths the economy, it tanks.
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But, if he is bullish and confident, the markets listen... and are more willing to invest in the future.
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While Obama is riding a high-tide of support, a little optimism might have done us all a great service... especially in an economic crisis that's rooted in lack of confidence and stability.-
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Instead, Obama's remarks accentuated the negative, and for political purposes.This alarmist propaganda may have been useful to Obama politically, but it's inaccurate historically... and betrays very poor leadership qualities.
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http://reaganiterepublicanresistance.blogspot.com/
Posted by: Reaganite Republican | February 21, 2009 9:08 AM
It's about that time when results from the administration will be demanded. The plans are nice, but getting them to positively impact the economy right away is near impossible.
http://www.political-buzz.com/
Posted by: matt | February 21, 2009 9:28 AM
Did Obama mention the tax burden that will be placed on the backs of those who PAY taxes?
Did Obama mention that only "certain" groups will benefit with mortgage help and that the rest of the people have to pay for it?
Did Obama mention that statistics will be presented as to who gets the mortgage help? What races, what ethnicities, what gender? Give the public statistics. It is easily done and statistics have been jammed down the throats of the public for years. Let's see if there is preference for one group over another.
Did Obama mention that the mortgage help will terminate in 5 years (just before election...so if you want the continued mortgage help and other help...keep me in office)?
Did Obama mention that his Secretary of Transportation is looking into VMT, a Vehicle MILEAGE Tax. (Obama can say he's not going to do it, but we all know this is the first step). Do you want to be taxed on every mile you drive?
Did Obama mention that the electronic medical records will bring about committee medical decisions that can supercede your own personal physicians advice?
Did Obama mention that entitlments, MEDICARE and SOCIAL SECURITY will be next? Expect reductions and delays, elderly. And this is ontop of the tax mess Obama has created.
Did Obama mention that he will ensure illegal immigration is stopped so that this country is not flooded with more people seeking the benefits of his programs? Can one imagine all the people wanting to partake of this stimulus, further stretching the economy and services?
Did Obama mention that "agitators" will begin rail against gun ownership, reparations for blacks.
Did Obama mention that this is not the end of stimulus? That more is needed.
Did Obama mention that there have been no cuts in aid given to foreign countries that we, the taxpayers, still contribute towards? (Plus the new taxes we will be paying).
Did Obama mention anything that the elite elected leaders have cutback on in Washington? Have they stopped going on "fact finding" trips, foreign travel, excessive fuel expenditures? What are THEY giving up?
Did Obama mention that those "teams of managers" are getting paid to manage the money? That's one way to divert money from where it's going.
Did Obama mention that he wants a mandatory draft under the guise of service to your country? Ofcourse, Obama never served, nor did the originator of THE PLAN.
Bush focused on one matter, however, Obama has a one-sided position that will break the back of this country. Tax, Tax, Tax, Tax, Tax, Tax, Tax, Tax, Tax, Tax, Tax, Tax.
Change leadership in the next election. Start at the local level (watch those who will increase your local taxes), then the State level, (watch those who want to increase your state taxes), and finally, at the Federal level, (watch those who want to increase your taxes).
Get rid of the democrats who are robbing you of your freedoms and the money YOU earn. They are giving it to those who don't contribute.
Posted by: Larry | February 21, 2009 9:46 AM
"Yea well, socialism and capitalism don't mix well you know." Posted by: Rob
What a stupid thing to say.
You might want to study a little bit and maybe take a trip to Europe,
Posted by: rupert | February 21, 2009 9:50 AM
BP......I checked with several republican governors and mayors, and they said they didn't mind the small print.....they still want the money. I asked them if we couldn't just take tax cuts and if they could just wait....they said no....they need the money now. Give em a call....they'll tell ya!
Posted by: bill r. | February 21, 2009 10:53 AM
I find this kind of handwringing fascinating. It should be clear to anyone with a brain that the market will be volatile for quite awhile no matter what the president says or does. This is a fact. It would be true if John McCain were president too. Look at what is happening in the world. Americans no longer live in a vacuum--although we try to pretend that we do. We are going through a global recession that is impacting everything that it touches. Heck--I just heard a story about Dubai, I believe, and how they were panicking because of their real estate market and how they might have to do a bailout. Everyone is going through a hard time. And that hard time in each country is playing out in the same way as it is playing out here. People are trying different things to address the issue--without complete certainty of what to do.
Stop treating us like children. Criticize the president's policies when you think they need improvement, but don't sit here and pretend that there will be perfect strategies, or policies, because I don't think there is. No one is exactly sure how to dig us out of the hole that we have been digging ourselves into for the past 10 years. So for journalists, pundits, and average citizens to act like Pres. Obama will have the magic words to cure the markets volatility and solve this economic mess overnight is deeply insulting.
Grow up.
Posted by: TW | February 21, 2009 11:05 AM
Since nobody in their right mind trusts Swamp writers or other media Democrats to give the Republican response to Obama's weekly address, I'll do it. Here's the link to Michigan Congressman Dave Camp's response: http://www.youtube.com/watch?v=FVZY_mAxs_Q
Posted by: Bruce | February 21, 2009 11:28 AM
for eight years we had a president who lied to the american people and the world
Bush signed off on budgets that did not include the war - that was a separate appropriation
Bush told Americans after 9/11 to go shopping
Bush had the largest tax cuts in history which benefitted the top 1% of income earners
Who cuts taxes at a time of war?
So when the bubble burst - people are surprised?
and as someone so wisely posted above - gee it's been a whole month and you mean Obama hasn't straightened out the world?
Next week- I predict -
Monday: economic discussions will start to outline the bank/credit market plans
Tuesday; Obama speech will return to some hope in the face of reality
Thursday: this country will see the first budget in 8 years that will include all expenditures- no tricks
It won't be pretty but it will be accurate
You cannot build the second floor of the house until the foundation is solid
The government is in the very difficult position of trying to rebuilt while the prior house is still falling
Have faith people
We have a smart man in the WH and he is not afraid to talk to others, get other ideas and be surrounded by other smart people
After so many years of deceit by the government - this is tough medicine
But necessary
I agree through - we need to know on a scale of 1-10 in the recovery -- where the President thinks we are
Posted by: alison | February 21, 2009 11:38 AM
"Yea well, socialism and capitalism don't mix well you know."
Maybe you want to tell that to Germany who, despite its generous vacations, pensions and universal health care, remains the world's leading exporter. Tune into news outside your usual right-wing drivel and you might actually learn something. Incidentally, while those of your ilk remain mired in petty negativity, the rest of the country is forging ahead to make the best of an abysmal mess left behind by your party.
Posted by: Diane | February 21, 2009 12:24 PM
Rob,
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I believe we know Beavis and Butthead and Pelosi and Reid. Or could it be Biden and Daschel?
.
Why can't he drink tap water?
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Rupert,
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Which European economic example would you like to model - England, France, Germany, ...? They have such great historical economic growth.
.
Posted by: Terry | February 21, 2009 12:32 PM
Kudos to Paul Krugman for finally acknowledging that FDR's New Deal did NOT end the Great Depression:
"Well, the Great Depression did eventually come to an end, but that was thanks to an enormous war, something we'd rather not emulate."
This is important because alot of the New Deal legislation actually prolonged and worsened the Great Depression. We cant' afford to repeat those mistakes. FDR wouldn't. Although he was open to trying new ideas in a big way, he was non-ideological and eager to learn from his mistakes and to correct them.
Giving big business carte blanche to create monopolistic price-fixing codes was a bad (and unconstitutional) idea. Giving Organized Labor power to fix wages to counter-balance the price-fixing was an equally bad idea. It was fixed in the 1947 Taft-Hartley Act, which retained the protection of employee choice about unionization through secret-ballot elections.
Let's keep our eye on the ball and make sure political debts are not paid at the expense of workers' voting rights. They are in the best position to judge whether they should have a union or not. And their choice, freely exercised, will protect against the worst abuses of the Organized Labor special interest lobby. And that will get us out of this Depression sooner rather than later.
Posted by: Thanks, Paul. | February 21, 2009 12:32 PM
Is his real hope a race war?
Folks, it’s getting very ugly out there!
If our new president’s intent was to divide the American people and to cheapen the discourse between them, he is succeeding at a simply mahvelous rate considering the fact he has been in office barely a month. If his aim was to incite a full-scale, second American civil war between those who strive to achieve and those who don’t, veritable class warfare, or between the races, Obama is right on target.
It began in October, if not before, when Obama offhandedly remarked to Joe the Plumber that Americans should “spread the wealth around,” http://www.usnews.com/blogs/capital-commerce/2008/10/16/did-barack-spread-the-wealth-obama-just-blow-the-election.html. That US News website thought that socialistic slip of the lip could have lost him the election which, of course, it didn’t. (Incidentally, the video of that slip has been pulled by YouTube for some mysterious reason.)
The roaring uglies continued later that month when Barbara West of WFTV pursued Obama’s wealth-spreading and other topics in an interview with then-VP candidate Joe Biden who was so befuddled by her probing questions that he asked if she were joking. One of her queries cited Karl Marx’ comparable ideas on sharing the wealth. See that video here: http://www.wftv.com/video/17790025/index.html. Joe didn’t come off too well in that exchange but that didn’t cost Obama/Biden the election, either.
Americans were obviously not listening very well with all that Obamamania sweeping the land and the Obamassiah was encouraged, heartened, and filled with a sense of unrequited mission. He had laid the groundwork for a social and socialist revolution, and few seemed to care.
Three months later, Obama, properly ensconced on his throne, appointed Black terrorist sympathizer Eric Holder to become the nation’s Attorney General. Evidently, the Senate wasn’t paying much attention to his record, anymore than they accorded attention to other Obamanees, since he was confirmed, 75-21.
Earlier this week, a bare fortnight after his confirmation, the new AG let loose a tirade about how cowardly Americans were on the subject of race, suggesting that if Whites didn’t invite an African American next time they stoked up the backyard barbie then, ipso facto, they were racists.
The fear of God, okay a demigod, apparently precluded sufficient uproar against Holder’s cowardly remark since he still holds office. Had Bush’s attorneys general, ...
(Read the rest at http://genelalor.com/.)
Posted by: Gene Lalor | February 21, 2009 12:42 PM
Remember when Obama used Gov. Deval Patrick's "Just words" speech and the press gave him a plagiarism pass?
"I have a dream" meant something when coming from Martin Luther King since King had worked hard towards the goal of desegregation; he was beaten and jailed -the point is they weren't "just words" they were backed up with actions.
Barack Obama? Not so much. The press led the voters to believe that his flowery rhetoric was enough without any proof of accomplishment- What made us think that a part-time state senator who gave a speech in 2002 to an anti-war crowd that was so unimportant it didn't even make the local news, was ready in a few short years to become leader of the free world?
"Just words" Yikes!
Posted by: veritas | February 21, 2009 1:51 PM
Rupert-It's seems you're correct, sir and I thank you for your comment. I'll admit to being a bit US-centric in what I wrote. They're kind of quiet over there and I don't dwell on them that much. My bad.
I actually incorporate many aspects of the European lifestyle into my own. Like a more balanced approach to work and leisure. I even moved to the country in an attempt to slow down a bit.
If I had it to do over again, Rupert, I'd be an Italian, and I really mean that. I'd have black hair,blue eyes and I'd still be really, really handsome, like I am now. And I'd be uncircumcised too. Can you say uncircumcised, Rupert? Sure, Sure you can.
I'm just thankful that even though we are having a tough time over here lately, that things are going so well over there on the economic front. Things are still going well, right? Been awhile since I checked.
Ciao baby,
Rob
Posted by: RobM | February 21, 2009 2:00 PM
veritas....You want "words"? here try these on for size.......1 month...as in that is the time he has been in office. However, your words make you seem like a partisan hack who demands Rome be built in a day.
Posted by: bill r. | February 21, 2009 3:33 PM
Is he trying to convince Americans or himself?? With the whole stimulus business behind him, it's time to tackle other stuff. What's next though? Who is advising him? Who is he listening to? Hopefully he's got his ears tuned to the American people, who are sounding off loud and clear on this website. Check it out. I'm talking to you, Barack. http://www.friendsoftheuschamber.com/email/email4.cfm?id=200
Posted by: actionashley | February 21, 2009 6:30 PM
Sure Terry. Denmark will do fine. It's the best place in the world right now, economically, socially. Yes, there are global economic problems, no exceptions, but the USA version of capitalism isn't doing so well, and to say that you can't have a mix is stupid.
hasta luego, Rob
Posted by: rupert | February 21, 2009 7:26 PM
While the new mortgage plan sounds nice and agree confidence is needed, but what I need though is mortgage help now as can't wait until March the site http://www.needhelppayingbills.com
mentioned gov't programs and Hope Now, but it was basic and I need info on the government programs and how to get help. Do you have any info on other gov't mortgage help? Thanks
Posted by: John | February 22, 2009 6:20 AM
The economy is in the skids for ONE reason:
The greedy oil companies in collusion with the car companies took us into a war on false pretenses.
One which someone's threatened Obama about something or other into continuing.
And it will be our ruination if it continues.
I don't think he alone can stop this.
Posted by: CALL AND WRITE CONGRESS--OUT OF IRAQ AND AFGHAN NOW!! | February 22, 2009 9:14 AM
CAWC-OOIAAN-Is there a possibility that you're being greedy in hording whatever it is that your smoking?
John-I'm sorry, man. I've got no answers for you.
Rupert-Ola!
Diane-FYI in both paraphrasing and customizing Groucho Marx:
I would never be a member of any "ilk" that would have me as a member.
Terry-Your next tap water is on me pal.
Posted by: RobM | February 22, 2009 11:04 AM
Rob,
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Thanks for the H2O in a glass!
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Rupert,
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Let me know how much a one-way ticket is. You want to measure Denmark's economy to the US over a long-run period. I am providing a link so you can study up on this economic juggernaut.
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https://www.cia.gov/library/publications/the-world-factbook/print/da.html
Posted by: Terry | February 22, 2009 7:53 PM