I try my best not to comment too much on politics, but with American economic issues and political activity diverging so closely, it is hard not to. My last post attempted to cut back on the cynicism, but here I go again.
Obama’s uneasy rhetoric, scare tactics, and overall vagueness during his news conference on Monday left me feeling utterly unconvinced. I will paraphrase the statement that bothered me most: “We know the stimulus bill isn’t perfect—some things will work and others won’t—but it is important that we get the bill on my desk as soon as possible to prevent future and possibly irreversible damage to the American economy.”
Elected officials are being scared into voting yes on the stimulus package.
In an impossible situation lets’ ask a few impossible questions:
1. Why is it better to get a less than perfect package passed through quickly rather than wait to get it right? Didn’t the TARP fiasco teach us anything?
2. If the House fails to pass the bill this week, what exactly will happen? Would the benefits of taking a bit more time outweigh the further costs of the job loss, bankruptcies, and citizen confidence?
3. Theoretically, American civil servants in the upper echelon of our government should be the brightest minds in the world. If anyone can figure out a PERFECT plan in a short amount of time, shouldn’t it be them?
Treasury Secretary Geithner’s vague bank bailout plan yesterday left Wall Street hungry for answers. He did, however, assure us that mistakes will be made and that things will continue to get worse.
4. Obama promised that Geithner would enlighten us on specific plans to save our banking system. Why did Tim leave us in the dark with few detailed answers? Easy answer: He is just as confused as we are.
Maybe this is reassuring; I think at this point a saviour praising answers would be either crazy or an idiot. Or both.